Greece’s Tourist Market Shows Record Growth
In 2023, Greece’s tourism market showed record growth since 2019, increasing by 18% with over 32 million tourists visiting the country. Often, foreigners who come for vacation fall in love with the country and decide to relocate to Greece permanently, obtaining residence permits for themselves and their families: expats make up about 10% of the local population. Greece offers its residents a warm climate, rich culture and history, a friendly atmosphere, and a high standard of living at a relatively low cost.
How to move to Greece? On what grounds can one legalize their stay in the country? In the Astons blog, we answer these questions, as well as discuss the advantages of living in Greece and how Russians can obtain Greek citizenship.
How to Get a Residence Permit in Greece? All Methods
To live comfortably in a new jurisdiction, it’s necessary to obtain a residence permit – a document that gives a foreigner the right to long-term stay in the country. In Greece, the rules for issuing residence permits are regulated by the “Immigration and Social Integration” Code No. 4251. Let’s examine how to obtain a residence permit in Greece and what conditions need to be met.
Based on Employment
You can obtain a residence permit by getting a job with a Greek company. For this, the company inviting the foreigner must obtain a special permit from the municipal administration, pay a fee for hiring an employee, and conclude an official employment contract for at least 1 year. The resident status is issued for 1 year or for the duration of the employment contract, with the possibility of extension.
The second option is obtaining an EU Blue Card. The applicant must provide documents confirming relevant education or at least 3 years of experience in the specialty, and the employer must confirm the salary level: by law, it should be 1.5 times higher than the average annual income in the country. The Blue Card is valid for 1 to 4 years, depending on the duration of the employment contract.
Based on Education
Foreign students admitted to a Greek university can obtain a residence permit for one year with the possibility of extension. For this, it’s necessary to provide documents confirming enrollment in the course, as well as the ability to support oneself financially – €400 per month is sufficient. With a student residence permit, one can work part-time.
Family Reunification
A Greek citizen or a resident who has lived in the country for at least 2 years can apply for a residence permit for family members – spouse and children. For this, the sponsor must show an income higher than the country’s minimum wage (as of 2024 – €910 per month) by 20% for an adult family member and by 15% for a child. Residence permits for family members of a country resident are issued for a period not exceeding the validity of the sponsor’s residence permit. For family members of a Greek citizen, a 5-year residence permit is available, which can be extended for another 5 years – for extension, one cannot leave the country for more than 2 years in 5 years.
Through Business Establishment
Foreigners can obtain a residence permit by opening their business in Greece. For this, it’s necessary to provide a detailed business plan, justification of the business’s significance for the local economy, and company charter documents. To open a company in Greece, you need to have at least €60,000 in your account. The residence permit is issued for 2 years with the possibility of extension.
Greece Residence Permit for Financially Independent Persons
A financially independent person in Greece is considered a foreigner with a confirmed passive income of at least €2000 per month and a permanent registration address in the country. It’s also necessary to open an account and provide a statement confirming the availability of financial funds of at least €48,000. The minimum amount will increase for a spouse by 20%, for each child by 15%. Thus, for a family of three, you need to show €64,800 in the account. The residence permit is issued for 2 years, can be extended for another 3 years. Official work in the country with this type of residence permit is not allowed.
Greek Digital Nomad Visa
A digital nomad is a non-EU citizen who works remotely for a foreign company with a minimum income of €3500 per month. With this type of residence permit, it’s forbidden to receive income from activities in Greece, and it’s also required to rent or buy housing in the country. You can include your spouse and children in the application: the income amount will increase by 20% for a spouse, by 15% for each child. The residence permit is issued for a year, with the possibility of extension for 3 years.
Greece Golden Visa – Residence Permit for Real Estate Investment
Greece’s Golden Visa program became the most sought-after and successful immigration program in the world in 2023: 4,444 residence permits were approved during the year, attracting over €1.1 billion to the Greek economy. Interest in the program continues unabated: in the first two months of 2024, the migration service received 1,299 applications for residence permits. This is due to the upcoming increase in the minimum entry threshold to €400,000 per property: participation at the old prices is possible until August 31, 2024.
Currently, to obtain a residence permit, an investor must purchase real estate (one or more properties) in Greece for a minimum of €250,000 (in 36 municipalities, including Athens, Thessaloniki, Mykonos, and Santorini, the threshold is set at €500,000 per property).
From September 1, 2024, the minimum threshold in most major regions will increase to €800,000 per property (all of Attica, Thessaloniki, Santorini, Mykonos, and islands with a population of over 3,100 people). In other municipalities, the minimum threshold will be €400,000, and the property must have an area of at least 120 sq.m.
The property must be purchased in the sole ownership of the investor. The minimum investment period is 5 years, and from the first day of obtaining the property ownership certificate, the property can be rented out. Among the main requirements for the investor are being at least 18 years old, ability to confirm the legality of invested funds, absence of a criminal record, and having medical insurance.
Along with the main applicant, you can include a spouse, children under 21, and parents of both spouses. The residence permit is issued for 5 years with the possibility of extension. There are no mandatory residence requirements either before or after obtaining the status.
How Can a Russian Citizen Obtain Greek Citizenship?
A current question is how to obtain Greek citizenship and how to move to Greece with a Russian passport? At present, Greece has suspended the “golden visa” program for citizens of Russia and Belarus. Nevertheless, there is a solution – obtaining a passport from a neutral country: for example, Vanuatu or Turkey. With alternative citizenship, it’s possible to participate in the Greek residence permit program for investments. Astons specialists will help you understand the combined program and offer the most suitable option.
How to Get a Residence Permit in Greece? Document List
The package of documents for obtaining a Greek residence permit generally looks as follows:
- Valid passport;
- Application for residence permit;
- Medical insurance with coverage from €30,000;
- Certificate of no criminal record;
- Health certificate;
- Income statement;
- Documents confirming ownership or rental of property in Greece;
- Family composition certificate, marriage certificate, children’s birth certificates;
- Documents confirming the basis for staying in the country: for the “golden visa” – a real estate purchase agreement with the developer; for employment-based residence permit – an employment contract; for marriage-based residence permit – a marriage certificate; for students – an enrollment order;
- 2 color photos 3.5×4.5cm;
- Receipt of state fee payment.
Documents need to be translated into Greek, notarized, and apostilled.
When applying for a Greek residence permit for investment through Astons, the company’s experts will prepare an individual list of documents and handle all program issues. After the application is approved, the client will only need to come to Greece to submit biometric data: a Schengen visa won’t be needed to enter the country – only a temporary Blue Paper permit.
What Does a Greek Residence Permit Provide?
A Greek residence permit allows legal stay in the country for the duration of the status, as well as unlimited entry and exit from the country. Additionally, a country resident can:
- Travel visa-free to Schengen agreement countries;
- Open accounts in local banks and use services of international banks;
- Unfreeze assets;
- Expand business to the European market;
- Optimize taxes;
- Study at local and international universities;
- Use free healthcare;
- Obtain residence permits for family members;
- Apply for permanent residence and Greek citizenship.
And, of course, it’s an opportunity to live in a European country with a high standard of living and developed infrastructure, as well as a reliable Plan B in case of political and economic turmoil.
How to Get Permanent Residence and Become a Greek Citizen?
Foreigners who have legally lived in Greece for more than 5 years can obtain permanent residence. For permanent residence, you need to meet the minimum stay requirements in the country: you cannot leave the country for more than 183 days a year and more than 10 months in total over 5 years.
How to obtain Greek citizenship? One way is naturalization: you need to live in the country for 7 years. When applying for a Greek passport, you’ll need to pass a Greek language exam, as well as a test on understanding the country’s laws and customs. A Greek passport endows its holder with citizen rights and allows living, working, and studying in any European Union country.
Greece is an excellent country for both vacation and immigration. The “Golden Visa,” as the most effective way to move to Greece, has become the choice of many investors from around the world, including Russia. Astons experts are ready to tell you about all the nuances of the residence permit program and help select real estate in any re