This is a residence privilege and not an obligation of residence since according to the current legislation the citizen of the third country has no obligation to reside in Greece for a minimum period of each year, but remains the holder even with a few days stay in Greece. The monetary threshold for the purchase of real estate in Greece is one of the lowest in Europe and places Greece in a privileged category compared to other Member States.

In particular, by decision of the Coordinator of the Decentralized Administration, a residence permit is granted for five (5) years, with the possibility of renewal, to a third country citizen, who:

a)  Has entered the country legally with any entry visa or resides legally in the country, even if the residence permit he holds does not allow a change of purpose.

b)  It has, by full ownership and prefecture, real estate in Greece. On an indivisible co-ownership property, with an acquisition value of at least two hundred and fifty thousand euros (250,000), a residence permit is granted only if the co-owners are spouses or partners who have entered into a cohabitation agreement. Otherwise, the right of residence is granted only if the percentage of each co-owner is worth at least two hundred and fifty thousand euros (250,000).

c)  Has full ownership and prefecture of real estate in Greece, through a legal entity established in Greece or another EU member state, whose shares or corporate shares are wholly owned.

d)  Has concluded a long-term contract for a complex tourist accommodation, in accordance with the provisions of article 8 par. 2 of Law 4002/2011 or a time-sharing contract for tourist accommodation, in accordance with the provisions of Law 1652/1986 as in force.

e)  Acquired by full ownership and prefecture as an unsecured or by will heir or as a result of parental benefit, real estate with an objective value of two hundred and fifty thousand (250,000) euros and is an adult.