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How does one get the 10-year visa instead of a five-year one?

I read about “strategic investments” being good enough to grant a decade-long visa, as opposed to the normal five-year Golden Visa. How does this 10-year option work? What are the requirements?

  • Energopiisi SA Investment Consulting Services
    October 25, 2018

    As strategic investments, in accordance with Article 1 of Law 3894/2010, are considered any productive investments that bring quantitative and qualitative results of significant tension to the overall national economy and promote the exit of the country from the economic crisis. Strategic investments mainly concern the construction, rebuilding, extension, restructuring, modernization or maintenance of existing infrastructure, facilities and networks: in the industry; in energy; in tourism; in transport and communications; in the provision of health services; waste management; high technology and innovation projects; in the field of education; in the field of culture; in the primary sector and in the processing of food products; and in the provision of services, in general, of the tertiary sector, provided that they meet at least one of the following conditions set out in this article and are linked to the size of the investment plan, business activity and the number of jobs created or maintained. In Article 6 of Law 4146/2013 regarding the resident permits is mentioned: For investment cases classified as "strategic investments" following a decision of the inter-ministerial Committee for Strategic Investments under Law 3894/2010 (A'204), resident permits may be issued to the legal representative of the strategic investment entity, and up to 10 persons whose resident permit is considered to be a prerequisite for the proper implementation of the investment plan and which persons may also be accompanied by the persons referred to in paragraph 1 of Article 54 of Law no. 3386 / 2005, members of their families. The minister of the interior decides on the approval of the resident permit, which may last up to 10 years.