Ask A Question  | Learn more about Greece

If I make a strategic investment that helps the Greek economy, who can I employ?

I am interested in relocating my family business to Greece. If this investment qualifies, I heard I can bring up to 10 people with me. Who can those people be? Are there any restrictions? What if some of them are family?


Answers
  • Dimitra Mella & Partners
    June 21, 2019

    It is true that as per a recent amendment of the Greek law, you can bring up to 10 persons with you for the realization of the investment project. The law does not provide for any restrictions as to who these persons might be. However, please note that the number of the persons you can bring is analogous with the amount of the investment. Thus, for an investment up to 300,000, you cannot bring any person for the realization of the investment project. For an investment up to 1 million, you can bring up one person for the realization of the investment project and so on. For an investment over 400,000, you can bring 10 persons for the realization of the investment project.

  • Stilianos Ch. Proestakis
    April 02, 2019

    You could employ whoever is legitimate to work in Greece. The number of people as partners is up to the investment you are about to make. As far as the number of your family members (nuclear family means a couple as parents and children), there is no restriction limit.

  • Papalois & Associates Legal
    April 03, 2019

    We need to check your folder to reply. Generally, you need to apply for a specific visa and permit before you invest.

  • Energopiisi SA Investment Consulting Services
    April 03, 2019

    Greece has set up a flexible and fast procedure for non-EU/EEA foreign investors who wish to obtain an entry visa and a resident permit for the purpose of investment activity in Greece. Resident permits can also be granted to company executives involved in the implementation and/or the operation of the investment project. Up to 10 permits may be issued for an investment project (investors and executives), depending on the investment scale. The investment activity may be implemented through the construction of new facilities (greenfield investments) or business acquisitions, restructuring as well as expansion of current activities (brownfield investments), provided that they have a positive impact on the national economy. Resident permits offered to investors and executives can be renewed every five years, as long as they maintain their position in relation to the investment and the investment continues to be active. In addition, they may be accompanied by their family members: spouse, unmarried children up to the age of 21, and the first-degree ascendants of the spouses who are also beneficiaries of the right to enter and obtain a resident permit. The above provisions of Greek immigration law were recently amended and the related circulars of the competent authorities will be under process since the related provisions will be published in Governmental Gazette.

  • KARAKITIS TAX & LAW
    April 03, 2019

    Depending on the nature of the investment, i.e., whether it is considered to boost the Greek economy through innovation and technological advancement or is more traditional, the minimum number of employees required, in order for the investment to be characterized as strategic, can be from zero to 150. Namely, there is zero-minimum employee requirement for an investment of more than 1 million euros, when it relates to advanced research projects or leads to technological advancement and innovation or pertains to the fields of waste management, healthcare services, energy, tourism, culture, education, or, regardless of the nature of the investment, if its total cost is projected to amount to more than 100 million euros or relates to investments realized in industrial parks and the investment expenditure is more than 15 million euros. If none of these types of investments is the case, there is the requirement for the creation between 120 (120, when there is also an investment cost of 40 million euros) to 150 new employment positions. The investment needs to qualify, first as strategic (for which qualification there is required an application to the Invest in Greece organization supported by detailed business plan and an investment impact assessment and has to be eventually approved by an inter-ministerial committee). Following the approval of the strategic investment by the inter-ministerial committee, up to 10 non-EU citizens and, in addition, their families (spouse, unmarried children below 21, the parents of the couple) can receive a 10-year resident permit, which is renewable for another 10 years provided the same requirements continue to apply. For the determination of the exact number of residence permits (up to 10 and the family members), it is required the opinion of the general secretary of strategic and private investments about the relationship of the non- EU citizens , who have been identified as indispensable for the implementation of the investment, with the entity carrying out the strategic investment.

  • Key To Success Limited
    April 07, 2019

    As an investor in Greece obtaining a visa through the Golden Visa program, you can extend your visa rights to your family and of course relocate them to Greece. I am not certain I understand the comment below about "bringing up to 10 people with you." If you mean to employ 10 persons outside of Greece I do not think this is the purpose of the investment program. Family members who are entitled to receive the Golden Visa benefits are a spouse, children up to age of 21 and parents.

  • Penny Konitsioti
    April 06, 2019

    Please be aware that in relation to the Golden Visa process, you may either make an investment or obtain a property valued at least 250,000 euros. In that case, your first-degree relatives (descendants) up to age 18, as well as your wife/husband are benefit from that and can also obtain golden visa. In relation to hiring people for working at a new business there is no limit for hiring people from abroad.