Article 99 of Law 5038/2023 specifies the categories of investments (excluding real estate investments) under which, and subject to certain conditions, third-country citizens may obtain a five-year residence permit in Greece (residence permit for investment activity type “B.4”). These residence permits do not grant the right to access any form of employment. A third-country national may invest in more than one of the following categories and up to three (3) separate investments in total. The specific categories are as follows:

1. A. Capital contribution of at least five hundred thousand (500,000) euros to a company based or operating in Greece, for the acquisition of shares in a capital increase or bonds during the issuance of a bond loan, which are admitted for trading in regulated markets or multilateral trading facilities operating in Greece,
2. B. Capital contribution of at least five hundred thousand (500,000) euros to a Real Estate Investment Company (REIC), whose purpose is to invest exclusively in Greece, for the acquisition of shares in a capital increase,
3. C. Capital contribution of at least five hundred thousand (500,000) euros to a Private Equity Company for acquiring shares or to a Private Equity Mutual Fund for acquiring units, provided that the above Alternative Investment Organizations aim to invest exclusively in businesses based or operating in Greece,
4. D. Purchase of Greek government bonds with a minimum acquisition value of five hundred thousand (500,000) euros and a remaining maturity, at the time of purchase, of at least three (3) years, through a credit institution established in Greece, which also acts as their custodian,
5. E. Fix- Term deposit of at least five hundred thousand (500,000) euros in a domestic credit institution, with a duration of at least one year and a standing renewal order. The term deposit may be jointly held by the investor’s spouse, partner, or blood relatives up to the second degree,
6. F. Purchase of shares, corporate bonds, or Greek government bonds, which are admitted for trading or are subject to trading in regulated markets or multilateral trading facilities operating in Greece, with an acquisition value of at least eight hundred thousand (800,000) euros,
7. G. Purchase of units with an acquisition value of at least three hundred fifty thousand (350,000) euros in a mutual fund established in Greece or another country that exclusively invests in shares, corporate bonds, or Greek government bonds, which are admitted for trading or are subject to trading in regulated markets or multilateral trading facilities operating in Greece, provided that: (i) the fund’s assets total at least ten million (10,000,000) euros, and (ii) the mutual fund and its manager are licensed by the authority supervising the capital market in the country where they are based,
8. H. Purchase of units or shares with an acquisition value of at least three hundred fifty thousand (350,000) euros in an Alternative Investment Organization, established in Greece or another EU member state, with the exclusive aim of investing in Greece, provided that: (i) the AIO’s assets total at least three million (3,000,000) euros, and (ii) the AIO and its manager are licensed or registered by the authority supervising the capital market in the country where they are based.

If the investor is a legal entity, a residence permit in Greece may be granted to third-country nationals as follows:

1. a) In the case of a Greek legal entity, a residence permit may be granted to a third-country national if they hold 100% of the company’s shares.
2. b) In the case of a foreign legal entity, a residence permit may be granted to up to three (3) third-country nationals, depending on the amount of the investment, who hold at least thirty-three percent (33%) of the capital of the foreign legal entity.

Maria Aikaterini Papadopoulou

Lawyer

LLM in History and Theory of Law, Law School of Athens, National and Kapodistrian University of Athens

LLM in Civil Law, Law School of Athens, National and Kapodistrian University of Athens

LLM in Commercial Law, Law School of Democritian University of Thrace