Residence Permit - Golden Visa

Α. Residence permit for owners of immovable property (Article 20)

 

1. By decision of the Secretary-General of the Decentralized Administration, a residence permit shall be granted for five years, renewable, to a third-country national who:

(A) Has entered the country legally with any entry visa or is legally resident in the country even if the residence permit it holds does not permit a change of purpose.

(B) Shall personally dispose of real property, distribution and possession, real estate in Greece. In the case of property ownership of a value of EUR 250,000, a right of residence is granted only if the owners of the property are spouses holding the property by indivisibility. In all other cases of co-ownership, the right of residence shall be granted only if the co-ownership share of each co-owner is worth EUR 250,000.

(C) Owns, by means of a legal person whose shares or shares are wholly owned, distributed and held in Greece by means of a legal person.

(D) Ηas concluded at least 10 years the rental of hotel accommodation or tourist furnished dwellings in complex tourist accommodation, in accordance with Article 8 (2) of the Regulation. 4002 / 2011 (A 180).

(E) Has concluded a timeshare contract in accordance with the provisions of the law. 1652 / 1986 “Recruitment and adjustment Convention” (A 167), as applicable.

2. The minimum amount of immovable property and the contractual price of hotel accommodation or tourist accommodation in this Article shall be fixed at two hundred and fifty thousand (EUR 250,000) and must have been paid in full when the contract is signed.

“The price shall be paid by a two-bank cheque in a payment account of the payee that is held in a credit institution operating in Greece or by transfer of credit, as defined in Article 4 (4). 4537 / 2018 (A) 84), on behalf of a payee’s payment account held with a payment service provider, as defined in Article 4 of Article 4 of Regulation 4537 / 2018, which operates in Greece. ”

By a joint decision of the Ministers of the Interior and Finance, the amount of that immovable property may be adjusted and derived from the property or lease contracts listed on the contracts.

3. In the citizens of third countries, property owners are given the possibility of renting them.
4. The above-mentioned citizen of a third country may also be accompanied by the members of his family to whom, at the request of the sponsor, an individual residence permit ending at the same time as the sponsor’s residence permit.

Family members shall mean:

 

1. Husband/ wife
2. The number of spouses or partners with whom / a the third-country national has entered into a partnership in Greece
3. Single children of spouses or partners under 21 years of age.
4. Unmarried children of the sponsor or of the other spouse or partners, where custody has been legally assigned to the children of his / her dependent to him / her and to his / her children / of the spouses or partners in him / her under 21 years of age
5. Direct ascendants of both spouses or partners

 

5. That authorization may be renewed for a period of two years, provided that the immovable property remains in the ownership and distribution of the citizen of a third country or that the contracts referred to in paragraph 1 of this Agreement remain in force and the other conditions laid down by law are fulfilled. Absence from the country is not an obstacle to the renewal of the residence permit. “The resale of immovable property during the period of validity of the residence permit to another citizen of a third country shall entitle a residence permit to the new purchaser while revoking the residence permit of the seller.”
6. The residence permits referred to in paragraphs 1 and 4 of this Article shall not establish a right of access in any form of employment.

 

1. Residence permit for investment activity (Article 16)
2. Third-country nationals in Greece are allowed to enter and reside in order to make an investment that will have a positive impact on the national development and economy. Depending on the size and characteristics of the investment, they can enter and reside in the country to ten citizens of third countries, including investors, for its implementation and operation.
3. With the recommendation of the Directorate-General for Foreign Affairs and Development, which concerns the classification of the investment and the feasibility of a residence permit, the entry and residence of third-country nationals in Greece may be allowed for the implementation and operation of the investment.
4. The application and supporting documents, as defined in the joint ministerial decision referred to in Article 136 (12), shall be submitted to the Greek consular post of the place of residence of the persons concerned, who shall transmit them to the Directorate of the External Borders of the Ministry of the Economy and Development within one month. The above-mentioned service within one month shall examine the application and forward the relevant contribution to the competent consular post in order to obtain the necessary national entry visas. The competent consular post in the event of delay in transmitting the relevant account of the Directorate-General for Foreign Affairs of the Ministry of the Economy, and Development, may grant the required permits for entry visas.
5. A residence permit for the same reason shall be issued to the citizen of a third country who has received an entry visa for the same reason, provided that he provides the necessary supporting documents. The period of validity of the residence permit shall be five years and shall be renewed for a period of two years each time, if the investment continues or the operation of that permit is continued after its completion.
6. The above-mentioned citizens of third countries may, by way of derogation from the provisions of Article 70 (1), be accompanied by family members who are granted a residence permit for family reunification ending at the same time as the residence permit of the dependents.
7. The authority responsible for examining the application and issuing a decision to grant or renew a residence permit for an investment activity shall be the Directorate for Migration Policy of the Ministry of Migration Policy.
8. The provisions of this Article shall also apply to the entry and residence of third-country nationals in the framework of new investments made by domestic undertakings already in operation or by third-country nationals who are already legally resident in Greece and who hold a residence permit for independent economic or investment activity.
9. The residence permit of third-country nationals referred to in paragraph 1 of this Article shall be entered “Residence permit for investment activity” and in the “Remarks” field of the holder’s professional capacity. “
10. They may enter the country once they obtain, where necessary, Visa D, up to 10 (10) third-country nationals per investment deemed necessary in order to undertake investments classified as “Strategic Investments,” following a decision of the Ministerial Committee for Strategic Investments to join the island. 3894 / 2010 (A 204). This visa shall be issued free of charge, upon presentation of the decision of the Ministerial Committee for Strategic Investments, which characterizes the investment as “Strategic Investing” and a recommendation by the Secretary-General for Strategic and Private Investment referred to in the relationship between the citizens of third countries and the Investment Strategy entity.
11. It shall be granted, by decision of the Minister for the Interior, a residence permit of 10 years, renewable for 10 years, subject to the same conditions.
12. A request shall be made for the grant of the residence permit as required by the provisions of Article 136 (1) of the Joint Ministerial Order in the Directorate for Immigration Policy of the Ministry of the Interior. The residence permit shall be issued within five (5) days from the date of submission of the application.
13. The above-mentioned citizens of third countries may, by way of derogation from Article 70 (1), be accompanied by family members who are granted a residence permit for family reunification ending at the same time as the residence permit of the dependents and by auxiliary staff, in so far as they are disabled persons.

III. 1. Citizens of third countries falling within Chapters I and II of this Article and legally residing in the country shall not be obliged to leave Greek territory in order to apply for a residence permit.

2. The competent services of the Ministry of Economy and Development shall notify in writing or electronically to the Directorate-General of the Ministry of the Interior of any change in the development of the investment activity.
3. Residence permit for investment in securities or bank deposit (Law 4605 / 2019 Article 42 par. C. )

Nationals of a third country may enter and reside in Greece in order to carry out immaterial investment in Greece in specific forms of securities or a bank deposit that exceeds €400,000, either as natural persons or through legal entities. Right of entry and permanent residence permit under this program shall be granted:

– Third-country nationals who as natural persons invest in Greece in securities or bank deposits – citizens of third countries investing in Greece in securities or bank deposits through a national legal person holding all their shares.

– to shareholders or executives of a foreign legal person investing in Greece in securities or bank deposits (issued up to three residence permits depending on the amount of the investment)

– In family members of a third-country citizen

The residence permit issued to the above-mentioned citizens of third countries does not entitle them to work in Greece.

Categories of investment:

• Capital injection, of EUR 400 000 (400,000) at least, to a company established or established in Greece, with the exception of portfolio investment companies and Investment Property companies, for the acquisition of shares in equity or bond issue when issuing a bond loan, which are admitted to trading on regulated markets or multilateral trading mechanisms operating in Greece.
• Capital injection, of EUR 400 000 (EUR 400,000) at least, to an Anonymous Investment Fund in the Immobile Property (IMAP) referred to in Article 21 of the Staff Regulations. 2778 / 1999 (FEK A 295), designed to invest exclusively in Greece, to acquire shares in an increase in its share capital.
• Capital injection, of EUR 400 000 (400,000), at least, to a Business Equity Company (SCE) under Article 5 of the Staff Regulations. 2367 / 1995 (A) 261) for the acquisition of shares, or a capital injection in a capital subscription fee (CBA), Article 7 of the Staff Regulations. 2992 / 2002 (FEK A ’54) for the acquisition of shares, provided that the above-mentioned alternative investment funds (AIFs) are intended to invest exclusively in companies with a registered office or establishment in Greece.

 

• Purchase of Greek State bonds, with a value of at least four hundred thousand (400,000) euro and a residual maturity at the time of purchase, three (3) years, through a credit institution established in Greece, which is their depository.
• A forward deposit of at least EUR 400 000 (EUR 400,000) to a national credit institution of at least one year, with a fixed renewal mandate.
• Purchase of shares, corporate bonds or bonds of the Greek State which are admitted to trading or traded on regulated markets or multilateral trading mechanisms, operating in Greece, of the purchase value of eight hundred thousand (800,000) euro.
• Purchase of units worth at least four hundred thousand (400,000) euro in mutual funds set up in Greece or another country and intended to invest exclusively in shares, corporate bonds or and bonds of the Greek State admitted to trading or traded on regulated markets or multilateral trading mechanisms operating in Greece.
• Purchase of units or shares worth at least four hundred thousand (EUR 400,000) in an alternative investment fund (AIF) set up in Greece or in another Member State – Member of the European Union and intended to invest exclusively in real estate in Greece, provided that, at its request, a list drawn up by the Directorate-General for Foreign Affairs and Investment in cooperation with the Capital Markets Commission is included.