According to a recent official announcement by the Greek government, the Greek Ministry of Migration Policy is further extending expiring residence permits due to the impact of the COVID-19 pandemic. Blue papers and Greek permanent residence permits expiring between July 20 and December 31, 2020, will be automatically extended for 8 months without the need for additional documentation.
Third-country nationals holding valid residence permits that expire within this 8-month automatic extension period are entitled to reside legally within Greece and maintain the rights granted by their residence permits. Applications for the renewal of residence permits may be submitted the day after the original expiration date, and can be filed during the automatic extension period. Based on operational and administrative capacity, relevant Greek authorities may prioritize the processing of residence permit renewal applications submitted by these third-country nationals.
This decree was signed by Notis Mitarakis, Minister of Migration and Asylum of Greece. The purpose of this extension is to prevent overcrowding at relevant government offices caused by the pandemic. Furthermore, the Greek immigration authorities are developing an electronic platform during this period to transition application processes online and increase efficiency.
In the meantime, Greece has received significant good news. Following four days and nights of intense debate, EU leaders finally reached an agreement on the largest economic stimulus package in history in the early hours of July 21, paving the way for Europe's post-pandemic economic recovery. Greece will receive 72 billion euros in funding to address the economic impact of the pandemic. Greek Prime Minister Kyriakos Mitsotakis described it as a "national victory."
EU leaders congratulate each other on reaching the agreement
These funds will be invested in national development, benefiting all citizens of Greece. It is believed that the Greek economy will recover steadily. Previously, Bank of Greece Governor Yannis Stournaras submitted the "2019-2020 Monetary Policy Report" to the Greek Parliament, predicting a comprehensive economic recovery for Greece in 2021. According to the Bank of Greece's economic trend analysis, the Greek economy is projected to grow by 5.6% in 2021 and 3.7% in 2022.
For investors, now is an excellent time to invest in Greece! Currently, by investing in Greek real estate starting at 250,000 euros, a single investor can secure residency for three generations, enjoy visa-free travel across 26 Schengen countries, and benefit from tourism, holiday rentals, or property sales. July is the promotional period for Greece property-based immigration, offering a rare opportunity to receive a bonus gift package upon purchase.
2020 is the Year of Health Planning. For health and lifestyle planning, secure your status first by choosing real estate investment in Greece. For more details, please contact: Mainland China: 400-138-2929; Hong Kong SAR, China: (852) 2802 8798.
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