The Greek Parliament finally approves and votes the long-awaited new immigration law that improves the benefits for investors of real estate in Greece that buy properties over 250.000 euro. According to the new law:
- The RP is renamed to “Permanent residence permit for investors“. This means that investment in Greek real estate leads to a permanent RP, which is renewed every five years as long as the investor keeps the ownership of the property.
- Investors now have the chance and legal right to apply for both the long-term RP as well as the Greek citizenship, with the same conditions with other foreigners that have different types of RPs. Investors and their spouses may apply for citizenship after a 7-year stay in Greece. Their children may apply if a) they attend for 9 years any Greek school, or b) they attend for 6 years a Greek secondary school, or c) they attend a Greek University. Children that are born in
- Investors are now able to bring with them not only their spouse and children, but also their parents. This right will be also given to the parents of the wife or husband, who is not included in the purchase contract.
- Investor will be able to sell his/her property before the expiration of 5 years to another foreign citizen, who can also apply for the RP. However, in order for the new investor to acquire the RP, the first one will have to abolish it.
- All the above right are also given to old investors, that have already bought a property according to the previous immigration law.
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