Golden Visa (Residence Permit) for Investment Activity

The Residence Permit for Investment Activity under Article 16 of the Greek Immigration and Social Integration Code is designed to attract non-EU citizens who make substantial investments in Greece that contribute positively to the country’s national development and economy. Below are the detailed eligibility criteria:

Eligibility Criteria

1. Investment Type and Impact:

- The investment must have a positive impact on Greece's national development and economy. This can include creating jobs, stimulating economic growth, or enhancing the country’s infrastructure.

- The types of eligible investments typically involve sectors like tourism, energy, manufacturing, technology, agriculture and real estate development, though other sectors may also qualify if they meet the criteria for positive economic impact.

2. Minimum Investment Amount:

- There is no specific minimum investment amount universally required under this permit. However, the investment must be substantial enough to be deemed significant by the Greek authorities, specifically the Foreign Funds Directorate of the Ministry of Development and Investment.

- Investments that are particularly large or critical to strategic sectors might allow for more flexibility in terms of the number of permits issued (up to 10 permits for key personnel).

3. Application Process:

The application begins with a submission of the investment plan to the Greek Consular Authority in the investor's country of residence.

- The application, along with all required documentation, is forwarded to the Foreign Funds Directorate of the Ministry of Development and Investment within one month for evaluation.

- If the investment is approved, the Consular Authority issues the necessary national visa (Type D) for entry into Greece.

4. Documentation Requirements:

- A detailed investment plan outlining the nature, scope, and expected benefits of the investment.

- Proof of sufficient financial resources to undertake the proposed investment.

- Legal documentation proving the investor's right to operate in Greece, such as business registration certificates, partnership agreements, or contracts.

- Evidence of the source of funds, demonstrating that the capital for the investment is legally obtained.

5. Realization and Operation of the Investment:

- The residence permit is granted for the purpose of implementing the approved investment.

- The investment must be executed and maintained according to the approved plan to qualify for the initial 5-year residence permit.

- After the investment is operational, the residence permit can be renewed as long as the investment continues and meets the required conditions.

6. Involvement of Multiple Investors:

- If the investment is substantial, up to 10 third-country nationals (including the primary investor) who are essential for the implementation and operation of the investment can be granted residence permits.

- Each of these individuals must play a significant role in the investment, such as being a senior executive, legal representative, or key technical personnel.

7. Strategic Investments:

- Investments classified as “Strategic Investments” by the Greek government may benefit from expedited processing and other incentives.

- For investments designated as strategic, the investors and up to 10 related personnel can receive a 10-year residence permit, which is renewable for another 10 years.

8. Family Members:

- Family members of the investor, including spouses, children under 21, and dependent parents, can obtain residence permits that expire simultaneously with the primary investor's permit.

- Family permits are granted under the family reunification provisions, allowing them to live in Greece as long as the primary investor's permit is valid.

Key Points to Note

- The investment should be **continuous** and align with the original plan approved by the Greek authorities to ensure eligibility for permit renewal.

- The investment does not grant the right to **employment** in Greece, though managing the investment is permissible.

- The Greek government periodically reviews and updates the criteria for what constitutes a significant investment, so staying informed of any changes is crucial.

This residence permit option offers non-EU investors a viable pathway to live in Greece while contributing to the country's economic development through significant and impactful investments.