There are no restrictions regarding the sector of activity or the location of the investment project. The requirement that must be met by the investment is to have a positive impact on national development and the economy. Investment activity may be implemented through the construction of new facilities (green field investments) or business acquisitions, restructuring or expansion of current activities (brown field investments). Factors taken into account for assessing the impact on national development and the economy are job creation, promotion of domestic resources and vertical integration of domestic production, export orientation, innovation and adoption of new technology. The legal framework does not set specific limits regarding the total cost of the investment project. However, an investor applying for a resident permit under this program should contribute to the investment with an amount of at least 250,000 euros, available through own funds. In addition, the number of permits for executives allowed for each investment project depends on the amount of the total investor contribution. Finally, the total number of resident permits allowed for an investment project cannot exceed 10 (for investors and executives). The holders of a resident permit have access to the exercise of investment activity (as a legal representative, president, board member or chief executive officer), while the executives of the investment have access to dependent employment for the needs of the investment. The family members of the investor are not granted access to the labor market, while the family members of the executives have the same access to the labor market as the sponsor.
What kinds of investments are recognized as strategic investments in Greece?
I want to get a Greek resident permit but also want to be able to work in Greece. I am considering the strategic investment route. What kinds of investments are considered strategic investments for the purpose of resident permits?
It is like a serious investment in Greece, like making an innovative idea or building something new. At least making something that can offer enough to local economy. You need to submit a business/financial plan to the competent ministry about how many persons you will hire, how much you will invest, the potential incomes etc. It is detailed. They need to approve this plan, so that you can continue the investment.
Beneficiaries of the right to enter and obtain a permanent resident permit under Article 16 of the Law 4251/2014 are non-EU/EEA citizens who intend to invest in Greece (investors), either personally or through a legal entity, provided that their investment project meets the conditions set by the legal framework, as outlined below. Resident permits for investment activity are granted to non-EU/EEA citizens (investors or executives) in the context of the implementation of an investment project following a positive assessment of the investment by the directorate for foreign capital at the ministry of economy and development. The legal framework does not set specific limits regarding the total cost of the investment project. However, an investor applying for a resident permit under this program should contribute to the investment with an amount of at least 250,000 euros, available through one's own funds. The holders of a resident permit for investment activity as above have access to the exercise of investment activity (as legal representative, president, board member or chief executive officer), while the executives of the investment have access to dependent employment for the needs of the investment. Furthermore 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. The related needed amounts are much higher than the needed according to the above article regarding the general investment activity.