The residence permit may be renewed for the same duration (five years), if the property remains unchanged in its legal ownership status as described above and the contracts of ownership remain in effect, and other statutory conditions detailed above are met.
The minimum value of the property and the contract price of the time-share leases and the leases for hotel accommodations or tourist furnished accommodations (houses) in tourist accommodation complexes, according to this Article, shall be two hundred fifty thousand (250,000) Euros.
The aforementioned third-country citizen (property owner) may be accompanied by the members of his/her family. Family members may be granted a personal residence permit that is renewed and/or expires concurrently with the residence permit of the sponsor (property owner).
The residence permits do not allow a right to employment of any type.
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