According to Art. 16(A) of the L. 4251/2014 it is allowed to investor/s to enter and reside in Greece, as long as each of them makes an investment of at least 250,000.00€, that will benefit the growth of national economy.
In terms of the same investment it is also allowed to maximum ten foreign nationals (executives) to enter and reside in Greece. The exact number of foreign nationals is determined respectively to the amount of the investment in accordance with article 4 of the present.
The competent authority for deciding upon the type of investment and the executives’, referred in paragraph 2, feasibility of entrance and residency, is the Directorate of Foreign Capitals of the Ministry of Economy, Development and Tourism.
A relevant application concerning the characterization of the investment is submitted to the aforementioned service, via the competent consular authority according to the investor’s/investors’ place of residency, including the following supporting documents:
A comprehensive summary presenting the investment plan, according to the Model of the competent service, also including:
− The information of the existing or under establishment financial investor (Name of the company, Legal Form, Shareholder/ Corporate Structure)
− The object of the investment and a short description of the provided product/service
− The location
− The amount of investment and the financial vehicle
− The timetable for implementing the investment
− The envisaged results for the first five (5) years of operation of the investment (viability forecasts and cash flows)
− The total number of jobs to be created due to the investment
Foreign nationals’ information (investors and executives), for whom entry visa or residence permit is requested, and specifically for each person:
− Identification elements (Name and Surname, Citizenship and Passport data) and a short curriculum vitae.
− The function of the person and their part related to the investment
− Expected time of entry and abode related to the implementation stages of the investment
. Documentation of the ability of the investment vehicle to cover the investment funds, based on quarterly statements of the bank deposits or transferable securities as far as the natural persons are concerned and balance sheets and accounts for legal entities.
The Directorate of Foreign Capitals of the Ministry of Economy, Development and Tourism examines the application dossier and forwards its proposal to the competent Consular Authority.
In cases of new investments by already operating national enterprises or EU citizens, as well as foreign nationals, residing legally in Greece and possessing a residence permit for independent financial or investment activity, that want executives to enter, then the application under the elements A, B and C along with the supporting documents of the paragraph 1 of the present article, is submitted directly to the competent authority of the Ministry of Economy, Development and Tourism, and the proposal of the said service is forwarded to the Directorate of Migration Policy of the Ministry of Interior and Administrative Reconstruction or to the Greek consular authorities of countries of residency of the interested parties, in order for the relevant entry visa to be granted to them.
The foreign national, during the period of the validity of the entry visa, submits the application along with the supporting documents, as defined to the joint decision of the article 136(1) of the L. 4251/2014, for the grant of residence permit to the Directorate of Migration Policy of the Ministry of Interior and Administrative Reconstruction. The residence permit is issued by the Minister of Interior and the decision is notified to the Ministry of Economy, Development and Tourism.
The residence permit has five-year duration and is renewed every time for the equal period of time, as long as the implementation of the investment or its operation, after the completion, continues.
It is allowed to enter the country up to ten (10) foreign nationals, deemed necessary, per investment, as long as they have received the entry visa (type D), whenever required, in order to realize investments characterized as “Strategic Investments”, based on the decision by the Inter-ministerial Committee of Strategic Investments to be included in the L. 3894/2010 (A’ 204). The aforementioned visa is granted free of charge, evidenced by the decision of the Inter-ministerial Committee of Strategic Investments that characterizes the investment as a “Strategic Investment” and by the proposal of the General Secretary of Strategic and Private Investments referring to the relation of the foreign nationals with strategic investment vehicle.
With the decision of the Minister of Interior a residence permit of ten-year duration is granted to the aforementioned persons, provided that all the condition are laid down.
For the granting of the residence permit the application along with the supporting documentations, as defined by the joint ministerial decision according with the provision of the article 136(1), is submitted to the Directorate of Migration Policy of the Ministry of Interior and Administrative Reconstruction. The residence permit is issued within a period of five (5) days form the date of submission of the application.
The aforementioned foreign nationals, notwithstanding the provision of the article 70(1), may be accompanied by family members, to whom is granted residence permit for family reunification that expires simultaneously with the sponsors’ residence permit, and by the auxiliary personnel regarding to persons with special needs.