Greece and the Residency By Investment

Greece is one of the ancient European civilizations whose scientists made great progress in philosophy, medicine, mathematics, and astronomy. Their cities were central to the development of democratic forms of government. The historical and cultural heritage of Greece remains resonated throughout the modern world – in literature, art, philosophy, and politics.

Greece is Located near the crossroads of Europe and Asia, while it forms the southernmost part of the Balkan Peninsula in southeastern Europe. It has more than 2,000 islands in the Aegean Sea and the Ionian Sea of which 165 are inhabited in addition Mount Olympus is the highest point in the country.

Greece’s Mediterranean climate is tempting; its cosmopolitan main cities are balanced by hundreds of islands that charm visitors with their beaches as well as authentic local traditions and hospitality. All this is a strategic geographical location with excellent connections by air to major centers in the East and West. 

Investment criteria:

1. Investment in immovable property. 
2. A financially independent person.
3. special purpose residence permit for members of boards of directors, shareholders, managers, legal representatives, and senior managing officers of Greek companies as well as subsidiaries and branches of foreign companies
4. investments having a positive impact on the national growth and economy
5. Strategic investments.

Application criteria

1. Two copies of the application form. 
2. Valid passport.
3. Valid Greece entry visa.
4. Two recent color photos.
5. Health insurance certificate covering hospitalization and medical care in Greece. 
6. Documents supporting the source Proof that the applicant has no criminal record.

Benefits of Greece residency program: 

1. Easy access to Schengen countries.
2. Easy to renew every five years.
3. The investor is entitled to permanent residency and citizenship.
4. Ensure permanent residence for all members of the family.
5. The investor can create his own business.
6. Save and gain assets with a Greek Residency. As a part of the EU, you will have the right to pursue investment opportunities such as the purchase of properties, businesses, and others.
7. The lowest investment amount for PR in Europe in Europe.
8. Better Educational opportunities and gain the advantage of paying lower tuition costs in any European country.

Benefits of the program:

1. Fast processing within 30-60 days.
2. Minimal processing fees.
3. Not required to reside in Greece to maintain the residency.
4. Permission to start and manage a business.
5. A chance to rent the property.

THE MAIN STEPS OF GETTING GREECE RESIDENCY BY INVESTING:

The process may be simplified into the following steps:

Step 1: 

Entering Greece by valid visa then prepares the necessary documents, submits the application, and pays the fees.

Step 2: 

Obtain a property valued at 250,000 Euro. This investment can be for a single property or more (residential, commercial, or both).

 Step 3: 

After completing preparing the necessary documents and paying the fees, the application must be submitted either personally or via the legal representative.

Step 4: 

Once the application is approved, you will obtain the European ID card after giving your biometrics. 

ECONOMIC RESIDENCY:

1. INVESTMENT IN IMMOVABLE PROPERTY: 

THE “INVESTOR’S PERMANENT RESIDENCE PERMIT” 

“Permanent Resident’s Residence Permit”

The law provides a renewable five-year Greek residency visa for foreign nationalities that invest at least € 250,000 in residential properties located in Greece.

A person enters into a timeshare agreement or rents accommodation in hotels or tourist residences furnished in a tourist facility Joint in Greece for a minimum of 10 years the same amount not less than 250,000 euros.

Once the application is approved, the applicant will receive permanent residence for the investor valid for five years (from the first day) and can be renewed by providing the property. This option does not give you a work permit for the work position.

The following persons are considered to be family members for the purposes of the foregoing:

1. • The spouse
   • The direct descendants of the spouses or of either one of them, who are aged under 21 years old
   • The direct ascendants of the spouses.

1. A financially independent person

Foreign investors (non-EU nationals) who have a fixed annual income level to cover their living expenses may apply for a two-year residence permit. These individuals may be joined by family members who obtain the content of the residence permit 

Sufficient income: 

1. • Earning sufficient income for each member of the family must be a minimum income is € 2000 / month. 
   • With the spouse: the amount will increase by 20% 
   • For each child: the amount will increase by15 %.

The amount of income may be determined through an external pension, bank account, or other evidence that the person has a sufficient income of legal origin to cover his expenses without employment or independent economic activity in Greece.

The residence permit for independent persons is issued for two years and may be renewed. However, this type of residence permit does not allow access to the labor market.

1. special purpose residence permit for members of boards of directors, shareholders, managers, legal representatives, and senior managing officers of Greek companies as well as subsidiaries and branches of foreign companies

The members of boards of directors- shareholders- managers-legal representatives and senior executives of Greek corporate entities as well as subsidiaries and branches of foreign companies may apply for the permit. The above-mentioned persons may also be accompanied by their family members, a family reunification permit may be granted.

• The terms of this residence permit are the company/ branch/ subsidiary is legally exercising a business activity in Greece. and/or,
• The Greek company/ business employ at least 25 persons.

It is worth mentioning that the requirement to employ at least 25 persons does not apply in the case of members of boards of directors, shareholders, managers, legal representatives, and senior executives of subsidiaries and branches of foreign companies legally exercising a business activity in Greece.

This type of residence permit is issued for 2 years or for a period equal to the expected duration of the applicant’s stay in Greece and is renewed every three years while the exercise of a specific profession is allowed.

1. Investments have a positive impact on national growth and economy

1. 1. Non-EU citizens who are interested to invest in Greece and having a positive impact on national growth and the economy may apply for visas and thus obtain residence permits. The amount of the investment is determined by the ministerial decision.
   2. To achieve the investment, up to ten citizens of a third country, including the investor, are also allowed to enter and stay depending on the amount and characteristics of the investment.
   3. Foreigners (non-EU citizens) in the case of new investments by current Greek or European companies and/or persons already legally resident in Greece who benefit from the residence permit for independent economic or investment activity.

A person having been granted a residence permit may be joined by his/her family members (spouse and unmarried children under 18 years old), who may be granted residence permits on the ground of family reunification.

The residence permit is granted for a period of 5 years with the possibility of renewing it for equal periods of time provided that the investment activity continues. In addition, it allows for business activity.

1. STRATEGIC INVESTMENTS

Through this type of investment, the investor can obtain a Visa type “D” (if required), and up to 10 citizens from third countries can be allowed to enter the country and apply for a residence permit

While the person who has obtained a residence permit, together with family members (spouse or unmarried children under the age of 18) may obtain residence permits on the basis of family reunification. Also, the law provides for the possibility of accompanying assistants in the case of persons with disabilities.

The residence permit for Strategic Investments is issued for 10 years with a possibility of renewal for an equal period of time provided the relevant requirements are met.

The investment characterized as “strategic” according to the decision of the Ministerial Committee on Strategic Investments. This relates to public and private projects on a large scale. the Investments are eligible to be “strategic investments” if they are productive investments, generating quantitative and qualitative results of great importance to the national economy as a whole, and which promote the country’s exit from the economic crisis.