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As a Golden Visa holder, are there any limitations to opening a business in Greece?

I bought a property two years ago in Greece and have Golden Visas for my family. Now I am interested in setting up a business here. What considerations should I factor in? Are there any limitations?


Answers
  • Dimitra Mella & Partners
    February 26, 2019

    As it is explicitly provided for by the Greek law, the Greek Golden Visa does not give right to access to any type of employment, according to Article 20, paragraph 6, Law 4251/2014. Employment in this case does not include the exercise of economic activity in the capacity of a shareholder or chief executive officer of companies established before the application for the Greek Golden Visa. This exemption for economic activity includes also the shareholders or managers of all forms of capital companies (S.A., ltd., private limited companies). Subsequently, as a real estate property owner in Greece and holder of the Greek Golden Visa, you can only work under the above conditions.

  • Papalois & Associates Legal
    February 26, 2019

    You can establish your own company in Greece with no limitations. You will need to consult with a lawyer in Greece explaining your business plan, the type of your company and all the other details.

  • Energopiisi SA Investment Consulting Services
    February 27, 2019

    The permanent resident permit for property owners does not provide access to any type of employment. Employment, according to paragraph 6, article 20, of Law 4251/2014, does not include the exercise of economic activity in the capacity of a shareholder or a chief executive officer for an already existing company. Under the above conditions, you should proceed to exercise your business activity.

  • Aggeliki G. Androutsou
    February 28, 2019

    It depends on the type of business, the money that will be spent and the role of the investor in a business.