In recent years, it has become increasingly popular for Turkish citizens to obtain residency by purchasing property abroad. For those seeking access to the Schengen Area, residency permits in countries offering visa-free travel opportunities have become particularly attractive. The economic downturns and crises in Europe have led many countries to make residency through property acquisition or investment more accessible to foreign investors.

Requirements for Obtaining Residency in Greece through Property Purchase

Since 2009, Greece has been working to overcome the economic crisis, introducing measures to attract foreign investors. One of the most prominent programs is granting residency to individuals who purchase property in the country for a specified amount. Foreign nationals looking to invest in Greece must purchase real estate valued at a minimum of €250,000 in the area they apply for residency. This property can be an apartment, villa, building, or commercial property. The €250,000 threshold set by the Greek government represents the minimum required investment for residency applications.

After purchasing real estate worth €250,000 or more, the investor is granted a five-year residency permit. This permit is renewable every five years, meaning the residency is maintained as long as the property ownership continues. However, purchasing property alone is not sufficient to obtain residency. Investors must also provide various required documents to complete their application. These documents include a criminal record certificate, medical report, income declaration, and other legal paperwork. These documents must be prepared by the investor before beginning their residency application process in Greece.

Greece Residence Permit and the Schengen Area

As a member of the European Union, Greece offers a residence permit that is also recognized as a Schengen visa. The Schengen visa allows free movement across EU member countries. With a five-year residence permit obtained from Greece, investors can freely travel within all Schengen Area countries. This makes Greece’s residence permit particularly attractive, as it not only grants residency in Greece but also provides visa-free access to other Schengen countries.

Advantages of Obtaining a Residence Permit through Property Purchase in Greece

There are numerous advantages to obtaining a residence permit in Greece by purchasing property. First and foremost, Greece’s rich history, cultural heritage, Mediterranean climate, beautiful coastlines, and relaxed lifestyle offer a highly attractive living environment for many investors. This makes Greece an ideal place for those seeking a high quality of life.

Another key advantage is the easy access that property owners in Greece have to the European Union and Schengen Area. This is particularly beneficial for those who frequently travel for business within Europe or wish to explore various European destinations. Additionally, Greece’s healthcare system, educational opportunities, and overall living standards are major attractions for foreign investors.

Obtaining a residence permit in Greece not only provides an opportunity for property ownership but also offers the chance for investors to bring their families along. The Greek government allows residence permits to be extended to the spouse and children of property owners, enabling families to live together in Europe.

In conclusion, purchasing property in Greece and obtaining a residence permit offers not only long-term residency but also the significant advantages of free movement within the EU and Schengen Area. This presents a compelling opportunity for investors looking to secure residency in Greece. With both economic and social benefits, owning property in Greece is a highly advantageous option for those seeking to enhance their quality of life.