18.04.2013 Α new law has entered into force (№ 4146) “For the creation of a favorable investment climate for strategic and private investments”, which has set a number of legal provisions aiming to attract foreign capital in the economy of Greece. To encourage investment in sectors traditionally popular for foreign investors, such as tourism, hospitality, renewable energy, the service sector, production of agricultural products etc, a number of innovations have been predicted, including: favorable working conditions of business, tax advantages, granting of residence permits for 10 years, not only to the investors but also to their staff (up to 10 employees) and their families, as well as “tax incentives”: low tax rates for a certain period of time, cuts in income taxes, refund already paid VAT, reduction or exemption from customs duties etc.
18.04.2013 Α new law has entered into force in accordance with the provisions of which a 5-year residence permit will be granted to foreign citizens who acquire a property in Greece with a value exceeding EUR 250,000. The residence permit will be issued to the buyer and all members of his family and will be updated after the passage of its validity period. Obtaining a residence permit as owner of real estate in Greece confers also the right to free movement within the European Union and the states – members of the Schengen Agreement.