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How is the chief executive of a company able to work in Greece on a Golden Visa?

I want to buy a property in Athens and serve as my company’s chief executive from there. I know Golden Visa holders can’t work in Greece, but how does this CEO exception work? What do I need to know before proceeding?


Answers
  • Dimitra Mella & Partners
    February 08, 2019

    Normally, as you already know, the Greek Golden Visa does not give right to access to any type of employment, according to pertinent provisions of the Greek law. However, employment in this case does not include the exercise of economic activity in the capacity of a shareholder or CEO of companies established before your application for the Golden Visa. Accordingly, as long as this company has been already established before the filing of your application for Golden Visa, you can perform your CEO duties without any restriction.

  • Papalois & Associates Legal
    February 07, 2019

    The CEO of a company in Greece can work as the manager or the legal representative of the Greek company. It's an exception, as you will be the manager of the company.

  • Right Target Estate
    February 07, 2019

    The process of Golden Visa and property acquisition is irrelevant with the working permit. Two different processes, different formalities and other authorities. No exception for the CEO. You need to hire a lawyer for both cases.

  • Energopiisi SA Investment Consulting Services
    February 07, 2019

    According to art.20 of Law 4251/2014, beneficiaries entitled for the permanent resident permit, which shall be renewed every five years, are third-country citizens who own real estate property in Greece, either personally or through a legal entity of which they own the total of the company shares, provided the minimum value of the property is 250,000 euros. In no case does this kind of resident permit 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. So according to the above, you have two options. Either you could set up your own company, in which you have to own the 100 percent of the shares, based in Greece or in an EU country, and consequently this company will acquire the property. In your already established company you could run your scheduled economic activity. Or you could buy the property as an individual, buy the shares of an already existing company, or take the chief executive position in an existing company and run your business activity independently.

  • Aggeliki G. Androutsou
    February 08, 2019

    The Golden Visa gives only the right to reside in a country of Europe. You cannot work. As a management adviser in order to have a working treaty, you should create a subsidiary of the non-resident company in Greece and be granted a resident permit by the Ministry of the Interior.