The legal provisions for the acceptable ways of payment for the acquisition contract are very clear and strict. The min. amount is still set at two hundred and fifty thousand (250,000) euros and must have been paid in full before submitting the request for the granting of the permanent investor residence permit. As per the increase to 500.000 euros, new legislation is in progress. The agreed price shall be paid in full by a two-line bank check to the beneficiary's payment account held at a credit institution operating in Greece or by credit transfer, or through a POS installed by a payment service provider, which operates in Greece. The above methods of payment can also be made by the buyer's spouse and/or blood or blood relatives up to the second degree. The purchased property has to be free of mortgages and encumbrances. So you cannot take a loan with a mortgage on the said property.
