Residence permits in Greece for Foreign (Non-EU) Investors

Author: N. Pirilides & Associates LLC
Date:2013-07-03

Law 4146/2013 gives the opportunity to  foreigners who intend to invest in Greece.  Such residence permits are available to foreign (non-EU) natural persons (the Applicants) and the members of their family or legal persons in which such natural person(s) is the sole shareholder.

 

Residence Permit-Owners of Property in Greece

 

By virtue of Article 6 of the above Law, an Applicant who secures a visa permit to enter Greece and who invests therein, either personally or through a legal entity established by him and in which he is the sole shareholder, by purchasing immovable properties of a minimum value of €250,000 or by concluding time sharing agreements or lease agreements of a minimum duration of 10 years in hotels or tourist projects or furnished tourist villas in multi-purpose touristic resorts are entitled to reside in Greece for a minimum of five years renewable for a further period(s) of five years. This kind of permit is also available to the spouse and children of the Applicant under the age of 18 under certain circumstances. Family members may individually apply for a permit and they can be granted individual residence permits, renewable at the same time with the residence permit of the Applicant.

 

As stated above, such residence permits are valid for 5 years and may be renewed for another 5 years, provided that the property remains in the ownership, tenancy and possession of the Applicant.  Holders of such permits are not entitled to work in Greece or engage in any kind of business thereat, whereas the period during which an Applicant resides in Greece is not taken into account for any application for the granting of Greek citizenship.

 

Residence Permit- Strategic Investments

 

By virtue of Article 6 of the Law, para. 8, Applicants who invest in “strategic investments” may be granted with a residence permit of up to ten years duration including up to 10 persons the presence of which is considered to be necessary for the proper implementation of the investment project in question.  This permit is not only granted to executives of strategic investments in Greece but also to their family members.

 

It should be emphasized that the Applicant is entitled to enjoy all the benefits that apply to holders of residence permits, upon the filing of his application and the issue of a confirmation by the competent authority that is to say the Migration Department that such Applicant has properly applied for such residence permit after submitting all necessary accompanying documentation.

 

It should be hereby noted that the submission of the application (and relevant documentation) and the receipt of a residence permit can be made through our firm.  In case you are interested, kindly contact us at info@pirilides.com.  

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