European (EU) Residence Permits

For buildings that have a different use and are converted into residences, the minimum investment amount is set at 250,000 euros.

The conversion of the use must be completed before submitting the application for the residence permit. The limit is also set at 250,000 euros if it is an investment in a listed building that is to be restored.

Residence permits can be renewed for the same duration (five years) as long as the real estate remains in the ownership of the investor. If it is an investment in a listed building, an additional condition for the renewal of the residence permit is that the restoration of the building must be completed. If the investor sells the property, then their residence permit is revoked, and the buyer acquires the right to obtain a residence permit. Investors can lease the buildings they acquire, but they are not allowed to offer them for short-term rentals, and in cases of conversion to a residence, their use as a business headquarters or branch is also prohibited.

In case of violation, the residence permit is revoked, and a fine of 50,000 euros is imposed. In addition to purchasing real estate, third-country nationals can obtain a residence permit by entering into a long-term lease agreement for a complex tourist accommodation or a timeshare agreement for tourist accommodation, with a corresponding value per area (800,000 euros in Attica, etc., 400,000 euros in the rest of the country, and so on).