The interest of Russians, Chinese, Americans and Arab countries for the real estate market relative with permanent or holiday residences and tourism investments in Greece is high, especially during the last years. In this direction it is welcome the decision of the Ministry to enable foreigners from third countries who make a purchase or a ten-year property rental amounting to 250.000 euros or more to take five-year residence permit, renewable for themselves and their family members .

Last year the Central Licensing Authority started operating in order to accelerate the implementation of major investment, while in advance is the process for privatization and Public- Private Partnerships, too.

The aim of the measure is to attract more people to invest in our country for long time, but it does not mean that they are given permission to live and work in Greece, nor are these years calculated in obtaining citizenship.

The reply for the for visa comes in 15 days, but because the visas are “Schengen” type the process is now revised so that the relevant Land Registry document will be filed at the same time, in order to provide the foreigners with a 90-days temporary visa until the procedure is done.