Types of residence permits for foreign direct investments
According to Number 53969/2014 Ministerial Decision (G.G. 2928/30-10-2014), the entrance and residence in Greece is allowed for investors following an investment of minimum height estimated at 250.000 euro for each. The entrance and residence is allowed to a maximum number of ten third-country citizens (executives), which is determined according to the height of the investment.
More specifically, the correlation between investment height and executives is as follows;
Above 40.000.000 10
In order to characterize and define the investment, an application to the consular authority is necessary, which shall include: a) brief study relevant to the presentation of the investment plan, b) details of the third country citizens (investors, executives) for whom the entrance and residence permit is requested and c) validation regarding the capacity of the investment carrier for the coverage of the investment’s capitals.
It is noted that the applicant majors may include employees and technical staff, executives or other individuals, the capacity of whom as well as the scope which they shall undertake in relation to the investment shall be mentioned within the application.
RESIDENCE PERMIT FOR STRATEGIC INVESTMENTS
Another investment category which has attracted a lot of interest is “Strategic Investments” which are defined and described in Article 1 L. 3894/2010. Strategic Investments are considered to be the productive investments which deliver qualitative and quantitative results of important degree to the total national economy, promote the exit from the financial crisis and concern especially the construction, reconstruction, extension, restructuring, modernization or the preservation of existing buildings, facilities and networks; a. industry, b. energy, c. tourism d. transport and communication e. provision of health services f. waste management g. high technology projects and innovation h. field of education i. field of civilization j. primary sector and processing of agrifood products and k. provision of services regarding the tertiary sector in general provided that they fill at least one of the following conditions:
i) the total investment cost is over one hundred million euro (100.000.000) regardless from the investment sector or
ii) the total cost of the investment is over fifteen million euro (15.000.000) for investments in the industry field within already organized receptors according to the current provisions or three million euro (3.000.000) for investments which consist projects within the framework of the portfolio fund (capital) JESSICA which has been established pursuant to No. 35996/EΥΣ 5362/2010 (Β’ 1388) joint ministerial decision ,as it is in force each time, based on the procedure which is defined in articles 1 paragraph 1 and 5 paragraph 1 of the aforementioned decision or
iii) the total investment cost is over forty million euro (40.000.000) while concurrently from the investment at least one hundred and twenty (120) new working positions are created.
iv) at least one hundred and fifty (150) new working positions, in a sustainable manner, are created from the investment or at least six hundred (600) working positions are maintained in a sustainable manner or
v) the total investment cost is over five million euro (5.000.00) for investments regarding the development of Business Parks in Part B’ of L. 3982/2011 (A’ 143)
vi) the total investment cost regarding high research projects, technological development and innovation independently or for investments which are referred in paragraph 1 of the present and are estimated over 1.000.000 euro