BUY A PROPERTY IN GREECE – MORE ATTRACTIVE LEGISLATION FOR BUYERS OF PROPERTIES FROM NON EU-COUNTRIES
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The Greek Government is increasing the motives for investors originating from non EU-countries to buy a property in Greece.

The current legislation regarding buyers of properties over 250,000 euros from other countries outside the European Community is about to become more attractive by the end of 2014, according to the state organization “Invest in Greece”.

The changes of the current legislation can be resumed to the following:

1. Non Eu-investors of properties over 250,000 euro can apply for the Greek citizenship after a long residency in Greece.
2. The residence permit which is currently granted to the owners of the properties, to their wives and children can be extended to other relatives such as the parents of the owners and the parents of their wives.
3. Unlimited residence permit with the obligation of a 5 year renewal. If the property has been transferred to a new non EU owner in the time limit of the 5 year residence permit, then the new owner obtains the residence permit and the old owner loses it.

Analysts of the Greek property market believe that these changes in the legislation will promote even more “the residency permit project” and urge people to buy a property in Greece.

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