How to obtain a residence permit in Greece for financially independent retirees?

The appeal of Greece for retirees

Greece has long been one of the most attractive countries for retirees dreaming of a peaceful and comfortable life after retirement. Every year, more and more people from Northern Europe choose the sunny shores of this Mediterranean country to start a new chapter in their lives. The reasons for this are easy to explain: the mild climate, numerous sunny days, and relaxed pace of life create the perfect atmosphere for those who want to escape the chaos of large metropolises.

Culture and lifestyle of the Greeks

The culture of this country and the lifestyle of its residents hold a special place in the eyes of foreigners. Greeks are known for their friendliness, openness, and ability to enjoy the little things. Additionally, the local cuisine, rich in fresh ingredients, makes everyday life here quite comfortable. Social programs aimed at maintaining activity among the elderly help strengthen community ties and provide opportunities for communication and mutual assistance.

The process of obtaining a residence permit

As for the procedure for obtaining a residence permit (RP) for retirees with sufficient financial means, it involves several stages and requires the preparation of various documents. One of the key aspects is having the funds that allow retirees to maintain a stable lifestyle. In order to legally reside in the country, each retiree needs an amount of about2000 euros per monththat should subsequently be confirmed by the relevant documents.

Real estate investments

For retirees considering real estate investments, there is a special program that opens the door to obtaining a residence permit when purchasing a residential property. This not only grants the right to reside but also the opportunity to become a property owner in the picturesque corners of Greece, ensuring a high level of comfort. The "golden visa" option involves meeting certain conditions, among which the minimum investment amount in real estate is significant. The process of obtaining such a visa is quite simple and accessible to many interested parties.

Choosing real estate in Greece

The Greek real estate market offers a wide range of options. You can find both:

• modern apartments with a yield of up to6.5%in the center of Athens,
• cozy houses by the sea.

For example, in the coming years, new rental properties are expected to emerge in areas such as Glyfada and Piraeus. These offerings not only provide comfortable living but also open up opportunities for generating stable rental income.

Conclusion

As a result, Greece can offer retirees not only climate and cultural advantages but also a real prospect of financial security and independence. In such conditions, one can only enjoy every moment of life on the warm coast, surrounded by friendly people and magnificent natural landscapes. This is truly a unique opportunity to start a new chapter filled with vibrant emotions and new discoveries.

Obtaining a residence permit in Greece

An application for a residence permit (RP) in Greece allows you to include family members, such as spouses and children under 18. It is important to remember that the minimum required monthly income must be increased by 20% for a spouse and by 15% for each child.

The key point is that the sources of income must be located outside of Greece. Both active and passive forms of income generation are allowed. These can include:

• Profit from one's own business;
• Dividends from stocks and other securities;
• Payments from foreign pension funds;
• Income from real estate rentals;
• The amount deposited in a Greek bank account.

The minimum amount required for one applicant is24 thousand eurosIf all conditions are met, the residence permit is issued for a period of two years with the possibility of extension upon confirmation of a stable income. After five years of living in Greece, one can apply for permanent residency, and after seven years, one can apply for Greek citizenship.

Thus, with sufficient finances, one can create the conditions for a new life on the picturesque Mediterranean coast, utilizing their financial independence. Please note that since 2022, Russian citizens applying for residency based on financial independence must have a second passport.

Stages of obtaining a residence permit

The process of obtaining a residence permit consists of several significant stages.

1. Obtaining a type D visaThis stage involves analyzing potential risks, gathering the necessary documents, and, if needed, consulting with lawyers and visa specialists. The completion of this stage is the submission of documents to the Greek consulate in Russia and obtaining a long-term national visa.
2. Obtaining a tax number and opening an account in GreeceThis can be done either in person or remotely through a lawyer in Greece. In the case of opening an account remotely, it will be necessary to arrange a power of attorney with a Greek notary with an apostille.
3. Financial confirmationAt this stage, if you wish, you can deposit 24,000 euros into your account to demonstrate your financial capability when applying for a residence permit.

Application for a residence permit

The next step is to apply for a residence permit. To do this, you need to visit Greece and provide your biometric data. The migration service will issue a document confirming the receipt of your documents.

The processing time for the application usually takes 2-3 months. In case of a positive response from the migration service, you will need to collect your residence permit from the department for foreign affairs. The process of obtaining a residence permit requires attention to detail and strict adherence to all formalities, but if the conditions are met, it opens the doors to a new life on the sunny coast of Greece.

Documents for obtaining a residence permit in Greece

To apply for a residence permit (RP) in Greece, you need to gather certain documents. This includes a foreign passport, which must remain valid for the entire duration of the visa and residence permit. You will also need to provide a copy of all pages of the passport.

It can't be done without the following:

• Certificate of no criminal record, confirming the absence of criminal prosecution;
• Completed application form for obtaining a residence permit;
• Four color photographs measuring 35x45 mm;
• Receipt confirming the payment of the state duty;
• A copy of the health insurance policy with coverage of at least 30,000 euros, issued by a company operating in the European insurance market;
• A certificate from a medical institution in Greece confirming the absence of dangerous diseases;
• Documents confirming the presence of legal income;
• Bank statement from a Greek bank;
• Greek Tax Identification Number (TIN);
• Rental agreement for housing;
• Documents confirming the family relationships between family members.

Procedures for registration

Documents collected in Russia need to be apostilled and translated into Greek with notarization. Ensuring one's future is not just a precaution, but the result of long-term effort that requires a thoughtful approach.

It's worth thinking about creating financial independence while still young, by building assets through deposits or purchasing real estate to rent out.

Advantages of living in Greece

Moving to Greece can be a great decision. Here, you can enjoy the comfort of living in a warm climate and feel secure about the future while being in a country that is a member of the European Union.

Investments in real estate and "golden visa"

It's interesting that retirees can obtain a residence permit through real estate investments under a special program known as“golden visa”This mechanism allows one to become a resident of Greece after purchasing real estate.

The program conditions include:

• Acquisition of a single real estate property worth at least 500,000 euros in major cities such as Athens, Thessaloniki, Santorini, or Mykonos;
• Acquisition of a property for an amount starting from 250 thousand euros in other municipalities of Greece;
• During the entire period of the residence permit, the property cannot be sold or divided.

Special conditions for Russians

In 2023, Russians can only obtain a "golden visa" with a second passport. The optimal method would be to acquire a passport from one of the CIS countries. If the main applicant holds a passport from a third country, their family members can apply based on the Russian passport.

Acquiring a "golden visa" in Greece allows you to stay in the country for up to five years with the possibility of extension or transitioning to permanent residency (PR). After seven years of living in Greece, there is a chance to obtain citizenship.

General information about real estate in Greece

Currently, there are 2,088 properties available for purchase in Greece, offering numerous opportunities for those looking to invest in this picturesque region. Among the most attractive options is a luxurious villa in Voula with a designer pool and a cozy patio.

Characteristics of villas

• Villa in Vula:The total area is 230 square meters on a plot of 210 square meters, and the price is 325,000 euros.
• Two-story villa in Xiliada:Located just 150 meters from the sea, it has an area of 110 square meters and includes four bedrooms. Its price is 8,000,000 euros.
• Elite villa in Portoheli.It is located on a plot of 4,000 square meters, has its own pool and beach, includes eight bedrooms, and is priced at 1,500,000 euros.

Real estate in Pelion and Crete

On Pelion, you can find a villa with a fairly large area and several guest houses. The total area of this property is 495 square meters, and the land plot reaches 7000 square meters, with a price of 245,000 euros.

In the picturesque Agios Nikolaos, located on Crete, a stone cottage with a terrace, garden, and kitchen is for sale. It has a total area of 150 square meters on a plot of 80 square meters, priced at 4,100,000 euros.

• Villas in Sithonia:Villas with areas of 370 and 600 square meters priced at 3,800,000 euros and 390,000 euros respectively.

The process of buying real estate

When buying real estate in Greece, clients can be assured that our team will take full responsibility for handling all the necessary paperwork, making the purchasing process as simple and convenient as possible.

Obtaining a "golden visa" in Greece

Obtaining a "golden visa" in Greece is a multi-step process that allows international investors to become residents of this wonderful country. The first step involves selecting and purchasing real estate, which plays a crucial role in obtaining this type of residence permit.

At this stage, potential investors are looking for suitable housing options in Greece. Professional consultants can assist with the selection and also handle all the legal aspects of the transaction. Notably, all processes can be carried out remotely by granting power of attorney to a representative in Greece, although the buyer's presence during the documentation process is also acceptable.

The visa application process

After the property is selected and purchased, the next step is to apply for a visa to Greece. This process requires the physical presence of the investor to collect biometric data. First and foremost, it is necessary to obtain a tourist visa at the Greek consulate in Russia, which serves as the starting point for further actions.

Obtaining a residence permit

After obtaining the visa, the investor will be able to submit the documents for residency. The person can either complete this step independently or seek assistance from a qualified lawyer who has a power of attorney with an apostille. During the document submission process, a Greek identification number (TIN) is also issued, and a bank account is opened.

All necessary documents should be submitted to the immigration office, where biometric fingerprints are also collected. If a lawyer is overseeing the submission process, it will be convenient for the investor to visit the immigration service to provide their biometrics at the agreed time.

Waiting and the final stage

The next stage involves waiting for the application to be processed by the immigration services, which usually takes between two to three months. In the final stage of the "golden visa" application process, the investor can act either independently or through a lawyer by providing a power of attorney.

An important point is the presence of all documents confirming the purchase of real estate, which must be submitted along with the main package of documents. Thus, by investing in Greek real estate with the aim of obtaining a residence permit, you not only protect your financial assets but also create better living conditions, as well as take steps towards possible naturalization and integration into Greek society.

Tax benefits for retirees

It is worth separately considering the tax privileges granted to retirees planning to move to Greece. The existing agreement between Russia and Greece helps avoid double taxation.

This means that income taxes are paid in the country where the taxpayer resides for more than 183 days a year. Moreover, Greece has offered special conditions for retirees coming from other countries, including:

• A reduced income tax rate of 7%
• This preferential rate will be in effect forten yearssince the moment of obtaining residency

Thus, this option makes moving especially appealing for retirees looking to start a new life in Europe.

Advantages of obtaining a Greek residence permit for elderly citizens

For many Russians, the idea of moving to Greece in their later years seems quite appealing. The main factor behind this choice is family ties and the similarity of cultural traditions. Greek and Russian cultures share common roots in Orthodox faith and the use of Cyrillic. The friendliness of the Greeks makes the integration process easier, which is especially relevant for elderly people. In both cultures, the values of family and home comfort are paramount, which helps elderly migrants adapt more easily to new living conditions.

General information about the Russian diaspora in Greece

As of today, Greece boasts one of the largest Russian-speaking communities outside of Russia, numbering around 400,000 people. The main centers of Russian cultural presence are cities like Athens, Thessaloniki, and the island of Crete.

Real estate in Athens

Real estate in Athens offers a wide selection. Currently, there are 952 listings for sale, with prices starting from81,000 €Here you can find both new apartments and studios that can be rented out with a yield of up to6.5%The placement of residential properties in calm and well-maintained areas of the capital adds comfort and tranquility. The completion of the construction of new apartments, offered as investment properties, is scheduled for2024 year.

Popular real estate options

• Apartments from €121,000In the center of Athens, construction is expected to be completed in 2024, with the possibility of obtaining a residence permit.
• New apartments in Atticawith a price starting at €143,000, the completion of construction is expected in 2023.
• Residential complexes in PiraeusNext to the coast, prices start from €170,000, with completion planned for 2024.
• Investment packagessuch as three micro studios for98,000 €with a yield of 5% on Egaleo.
• Modern apartments in GlyfadaStarting prices from €290,000, with underground parking and sea views.

Advantages of the Greek residence permit

When it comes to the advantages of obtaining a Greek residence permit, an important aspect is the high quality of medical services in the country. Greece has both public and private medical institutions, and the public healthcare system partially reimburses treatment costs, which is extremely important for elderly people.

Culinary traditions of Greece

Greek cuisine is also very appealing to many, known for its diversity. It includes a variety of dishes based on fresh vegetables, meat, olive oil, and cheeses, providing not only great taste but also health benefits. In many cities in Greece, it's easy to find stores with products familiar to Russians.

Cultural opportunities for retirees

In addition, retirees in Greece can expect various benefits in museums and cultural centers across European Union countries. Holders of residence permits in this country can move freely within the EU, discovering new horizons for travel and cultural enrichment. Museums, theaters, and sporting events often offer special conditions for seniors, making cultural leisure accessible and enjoyable.

Conclusion

Thus, Greece is an excellent choice for retirees, offering comfortable living conditions, a rich culture, quality healthcare, and ample opportunities for active leisure. Moving to this sunny country can mark the beginning of a new, fulfilling life, full of exciting experiences after retirement.

Conclusion

In conclusion to the article about obtaining a residence permit in Greece for financially independent retirees, I want to emphasize that this country offers unique opportunities for a comfortable life after retirement. For those who are already on the brink of this new stage, horizons of joy from living in a warm and friendly environment, full of light and flavor, begin to open up.

I deeply believe that Greece remains an attractive place not only because of its mild climate and vibrant culture but also due to its excellent infrastructure that supports an active lifestyle for older adults. The social programs available for elderly residents contribute not only to physical but also to emotional well-being, providing opportunities to socialize and enjoy every moment.

The process of obtaining a residence permit

The process of obtaining a residence permit may seem complicated, but with the necessary knowledge and a clear action plan, it becomes achievable for many. Taxes and investments in real estate are not only a step towards a stable life but also an opportunity to adapt and integrate into a new society. Free consultations with lawyers and the open doors of Greek banks make this path even more accessible.

New horizons

Thinking about the possibility of starting a new life in Greece, one should not overlook the bright prospects that open up before each of us. Since the moment I first considered this opportunity, I have become more open to new ideas and ready for change. Moving to the sunny coast is not just a desire; it is an opportunity for new discoveries and adventures.

Creating a cozy space

It is important to remember that every ending is also a new beginning, and perhaps Greece will be the very place where a new chapter of your life opens, filled with happiness and harmony. In conclusion, I can say that Greece is not only a beautiful place but also a country that will open new horizons for you. By embracing its culture, way of life, and warm attitude towards people, you will not only be able to enjoy each day but also create a cozy and warm space for yourself and your loved ones.