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A recent amendment to the Law governing Residency by Investment in Real Estate (Art. 20 paragraph B, Law 4251/2014) has been made with the enactment of Law 4546/2018.
According to Article 38 paragraph 8 of Law 4546/2018, with effect from September 12th 2018, in regards to applications for residence permit for owners of real estate property, the State Fee will be increased from 500 EUR per adult to 2000 EUR for the investor and 150 EUR for adult family members. This government fee will be borne by both new applicants or applicants who renew for another 5 years. Please be reminded that the residence permit must be renewed every 5 years.
Persons under the age of 18 will not be required to pay the above State Fee as there is no State Fee for minors.
Applications for residence permit made prior to the 12th of September will bear the lower fee of 500 EUR per adult applicant.
The investment threshold of 250.000 EUR still remains unaffected making Greece the lowest cost country for Residency by Investment in Real Estate in Europe.
Ioannis Valmas is a Greek Lawyer, trial Attorney and Managing Partner at Valmas Associates.