5 year residence permits
The Immigration and Social Integration Code (Law 4251/2014, Government Gazette 1, no 80)
- The entrance and residence of third country nationals is permitted in Greece, for the purpose of making investments that will have a positive impact on national development and economy.
Depending on the amount and the characteristics of the investment, up to ten third country nationals may enter and reside in the country, including the investors, for the implementation and operation of the investment.
- On the motion of the Directorate of Foreign Investments of theMinistry of Economy and Development, concerning the characterization of the investment and the feasibility of granting residence permit, the entry and residence of third-country nationals may be permitted in Greece for the implementation and operation of the investment.
- The application and the required documents, as specified by the Joint Ministerial Decision, referred in paragraph 12 of the Article 136, are submitted to the Greek Consular Authority of the area of residence of the interested persons, which, within one month, forwards them to the Directorate of Foreign Investments of theMinistry of Economy and Development.
The above Directorate, within a month, examines the application and forwards the relevant motion to the competent Consular Authority in order for the required national visas to be issued.
The competent Consular Authority, in case of delay of forwarding the relevant motion of the Directorate of Foreign Investments of the Ministry of Economy and Development.
- To the third-country national, to whom has been granted a visa for the realization of an investment, a residence permit shall be granted for the same reason, on procurement of the required documents.
The duration of validity of the residence permit is for five years and is subject to renewal for an equal period each time, since the implementation of the investment or its operation is continued after its completion.
- The above third-country nationals, by way of derogation from the provisions of the Article 70, par. 1, may be accompanied by the members of their families who are granted a residence permit for family reunification, expiring simultaneously with the residence permit of the sponsors.
- The Directorate for Migration Policy of the Ministry of Interior and Administrative Reconstruction is competent for the examination of the application and the decision on the issue or the renewal of the residence permit for the realization of investment activity.
- The provisions of this Article shall apply accordingly for the entry and residence of third-country nationals in the context of new investments realized by Greek undertakings, already operating or third country nationals who already reside legally in Greece and hold residence permits for purposes of independent economic or investment activity.
- In the residence permit of third-country nationals referred to in paragraph 1 of this Article, it shall be stated “Residence permit for investment activity “and in the” Remarks” the professional atus of the holder shall be referred.