Purchasing a European residence permit for financially independent persons has been a popular trend in the last 4 or 5 years among well-off non-Europeans. Today, Greece is one of the countries offering most favourable residence permit acquisition terms. The program was launched with the intent to encourage wealthy foreign individuals to come into the country.
The Greek residence permit for financially independent persons does not allow one to take a job within the country. Greece grants residence permits to high net worth individuals whose financial status allows them to live in the country without seeking ways to generate income within it. Those individuals also must not have necessity to apply for any pro bono public benefits available in Greece, such as free health insurance, or allowances of any kind, etc.
After the applicant’s candidacy is approved by the local authorities, the residence permit is issued and initially valid for 2 years with subsequent extensions for 3-year periods. The holders of a Greek residence permit may opt to either reside or not reside in Greece, as no restrictions have been set by the government in this regard so far.
The presence of at least € 48,000 in a bank account in Greece or abroad, and in addition to this amount: 20% of the above amount per spouse and 15% for each minor child (under 18 years of age)
Issuance of Residence permit (per applicant over the age of 18)
Medical insurance (per applicant)
Example of all expenses
Step by step procedure
Checklist of documents
Information about the country
Usually the process takes up to 2 months. Investors must meet following criterias:
Absence of sanctions, restrictions or prohibitions to entry the EU, USA, UK and Canada Ability to confirm the legality of the source of income and available capital
A background free of bankruptcies and previous convictions and a favorable credit history are welcomed
Who can obtain Greece Residency with the main applicant?
Children under the age of 18
Before you apply for Greece Residency we will perform the background check for free
Want to apply for a free background check?
Residency by investments is the official state program We provide the preliminary background check, analyze risks and submit a preliminary report We charge our services fee after you receive the residence permit. You only pay for the results!
The Greek residence permit for financially independent persons program does not require actual residence or even staying for the period of one’s application processing. The candidates, however, have to personally come to Greece to submit biometrics and receive their residence cards. The applicant must own or rent real estate in Greece to qualify for the financially independent persons program. Given that real estate market prices have nosedived by 40% in the last 10 years, one faces a variety of reasonably-priced object choices, often along the coastline or in tourist-famous location. An applicant must bear in mind that migration services can and will revoke the residence permit in case one sells the property or cancels the rental agreement. The Greek economy is experiencing growth spurts despite severe previous crises. International rating agencies are noting the positive trends. The Fitch Ratings agency, for instance, has revised Greece's credit rating, changing it from CCC to B-. Greece has earned a B- rating from Standard & Poor's, and Caa2 with positive outlook mark from Moody's — quite an achievement, considering that not so long ago, the country went into default. The Greek residence permit for financially independent persons is one of the best ways for high net worth individuals and entrepreneurs to obtain the legal right to live and/or grow their business in the stable economic environment of Europe. Madonna, Tom Hanks, Angelina Jolie, Brad Pitt, Jennifer Lopez, Sarah Jessica Parker, Beyoncé, Leonardo DiCaprio, Hugh Jackman and many other A-list celebrities and entrepreneurs own villas and houses on the various Greek islands. While Johnny Depp owns an entire Greek island.
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