Greek investment residence permits
Greek investment residence permits through Investment in Securities or Bank Deposits.
The Greek legal framework offers Greek investment residence permits to third-country nationals (non-EU and EEA citizens) who invest at least €400,000 in financial instruments such as securities, bonds, or term deposits. The law provides flexible options for individual investors or investments through legal entities, such as corporate share purchases, government bonds, or long-term bank deposits. Investors are entitled to bring their families (spouses, cohabitants, children under 21, and parents).
Investment Options:
1. Capital Contributions to Greek Companies: Investments in Greek-based companies (except portfolio and real estate investment companies), through share purchases or bond subscriptions, must total at least €400,000. The investments must be registered through an intermediary or a credit institution in Greece, and the investor must create a personal account in the Central Securities Depository of Greece.
2. Real Estate Investment Trusts (REITs): A capital contribution of at least €400,000 in Greek REITs, which exclusively invest in Greece, is another eligible investment route. Before the REIT is listed on a regulated market, the company must issue a certificate confirming the investment. Once listed, the REIT must adhere to specific procedural requirements, including the investor opening an account at the Greek Central Securities Depository.
3. Venture Capital and Private Equity: Investment in venture capital companies or mutual funds of at least €400,000 is eligible, provided these entities focus on businesses located in Greece. Investors can invest directly in shares or units of such funds. For partial payments, the remaining sum must be deposited in a secure escrow account with a Greek credit institution.
4. Greek Government Bonds: Investors may purchase Greek government bonds worth at least €400,000, with a remaining maturity of at least three years at the time of purchase. These bonds must be held through a Greek credit institution, which acts as the custodian.
5. Time Deposits: A term deposit of at least €400,000 in a Greek bank for a minimum period of one year, with automatic renewal, qualifies the investor for a residence permit.
6. Equity and Corporate Bonds: Investments of at least €800,000 in shares, corporate bonds, or Greek government bonds listed on regulated markets in Greece also qualify. The securities need not be new issues but must be acquired through licensed intermediaries.
7. Mutual Funds: An investment of at least €400,000 in mutual funds that invest exclusively in securities listed on Greek stock markets or government bonds is another option. The fund must have assets of at least €3,000,000 and be regulated by an authority recognized by the International Organization of Securities Commissions (IOSCO).
8. Alternative Investment Funds (AIFs): Another eligible option is the acquisition of shares in an AIF investing in Greek real estate, with a minimum investment of €400,000. The AIF and its manager must meet specific regulatory requirements.
Legal Framework:
The applicable laws for this investment-based residency program include Article 16 of Law 4251/2014, amended by subsequent legislation (Law 4605/2019 and Law 4686/2020). The process is further regulated by Joint Ministerial Decisions and must comply with European Union regulations governing residence permits.
Permit Duration and Renewal:
Residence permits for investors are granted for an initial period of five years and are renewable for an equivalent period, provided the investment is maintained. Family members’ permits are synchronized with the principal applicant’s permit and follow the same renewal process.
For unmarried children under 21, a residence permit for family reunification can be issued. Upon reaching 21, the child can receive an independent residence permit until the age of 24, at which point it can be further renewed under standard conditions outlined by Greek migration law.
Processing and Application:
Applications must be filed through an authorized lawyer and accompanied by appropriate documentation, including proof of investment, entry visas, and biometric data. Applicants can either enter Greece on a Visa D (national visa) or already reside legally in the country under another permit or visa. Following investment, the investor has 12 months to submit biometrics and finalize the residence permit application.
For more detailed legal guidance on immigration and investment opportunities, if you re interested in the Greek investment residence permits, contact Economou & Economou Law Office, the leading experts in Athens, Greece according to Lawzana. Email us at econlaw@live.com or call us at (+30) 2103603824. You can also fill out the contact form here https://www.econlaw.gr/contact/
