Types of residence permits for investment purposes

Residence Permits for Investment Purposes

Investment-based residence permits are granted by decision of the Minister of Migration and Asylum, following recommendations from the relevant services of the Ministry of Development and Investments, and are valid for five years.Third-country nationals who have legally entered Greece with any type of visa or who are legally residing in the country can apply for a residence permit for investment purposes, provided they:

1. Submit an application for a residence permit to the Directorate of Residence Permits at the Ministry of Migration and Asylum.
2. Submit a request for the classification or certification of the investment, as well as the necessity of granting the residence permit. The application content
depends on the type of residence permit they seek. The application is forwarded to the competent service of the Ministry of Development and Investments for evaluation, which will then advise the Directorate of Residence Permits.

Specific Conditions for Granting Residence Permits for Investment Purposes

In addition to the general requirements mentioned above, specific conditions must be met for each type of residence permit for investment purposes.

1. Residence Permit for Strategic Investors (article 96 L.5038/2023): This can be granted to a maximum of five third-country nationals who are board members or shareholders of a foreign legal entity involved in a strategic investment. In Greece, a residence permit for strategic investment is granted to third-country nationals involved in large-scale investments that meet specific criteria according to L.4864/2021.

2. Residence Permit for Investment Through Business Establishment (article 97 L.5038/2023): This is granted to third-country nationals who
establish a business in Greece with a minimum investment of €500,000. The business should aim to contribute positively to the national economy and development, often through job creation, innovation, or modernization of existing industries.

3. Residence Permit for Executives of Companies (article 98 L.5038/2023): This can be granted to third-country nationals who either:

• Hold at least 33% of the capital in a Greek company with a minimum investment of €500,000, or
• Are board members, legal representatives, or managers of Greek companies, or legal representatives of branches of foreign companies, which are legally conducting business in Greece and have assets of at least €4,000,000.