For non-EU citizens who face specific barriers with the immigration restrictions of their access to EU countries, there is a very good solution that provides work and residence permits for the executives of a branch of a foreign company located in Greece
2022-01-12
Greece is a very famous destination, not only as a magnificent location for vacations but also for eminent investment and business opportunities, available and approachable both for European investors and entrepreneurs but also for investors and entrepreneurs who are third-country nationals.
Nowadays, constantly increasing numbers of other EU citizens, non-EU nationals, retirees, digital nomads, investors, entrepreneurs, and company groups choose to move permanently to Greece due to the many advantages and amenities that Greece provides.
Especially for non-EU citizens, who face specific problems and barriers with the immigration restrictions of their access to the European Union countries, there is a perfect solution that provides work and residence permits for the executives, administrators (directors), or board members of a branch of a foreign limited liability company located in Greece or of a Greek subsidiary company.
Below, we provide you with some brief information about that solution:
General information about the Greek Residence Permit
Executives, administrators, and board members employed at Greek branches of foreign companies have a relatively easy way of obtaining a permanent residence permit.
Who can apply for the residence permits?
- members of boards of directors,
- shareholders,
- managers,
- legal representatives and
- senior executives of Greek corporate entities (with more than 25 employees), as well as the Greek subsidiaries and branches of foreign companies.
Are family members included?
The aforementioned persons may be accompanied by their family members, to whom a permit for family reunification may be granted.
Conditions for the residence permit?
- The branch or the Greek subsidiary company must be legally exercising a business activity in Greece.
- A foreign entity that intends to set up the branch or the Greek subsidiary company must be established abroad as a Limited Liability Company (LLC or LTD or SA or Joint Stock Company).
- The Greek subsidiary company must be a limited company (either Private Limited Companies/ IKE, LTD/ EPE or SA/ AE) that is owned by the foreign entity with at least 70%.
- The foreign entity (mother company) must have sufficient funds to support the investment in Greece (50 – 100K is an adequate amount of money that the entrepreneur wishes to invest in Greece).
- The members of boards of directors, shareholders, managers, legal representatives, and senior executives of subsidiaries and branches of foreign companies will stay and work in Greece for at least 186 days annually in order to help the Greek branch or the Greek subsidiary company to operate the business activities in Greece.
Duration of the residence permit
This type of residence permit is issued for two years or for a period equal to the expected duration of the applicant’s stay in Greece and is renewed every three years.
Benefits of the Greek Residence Permit
1. Access to the labour market
The solution provides both work and residence permits to both EU citizens and third-country nationals.
2. A prominent European gateway
Greece stands at the crossroads of Europe, Asia, and Africa and offers excellent opportunities for internal-continental connection. Greece is highly developed in shipping and logistics infrastructure and provides a platform through which business people are able to venture and get access to nearby markets around the Balkans, the Black Sea, and the rest of Eastern Europe.
Through the Greek residence permit, foreign investors, entrepreneurs, and international groups of companies can enter the prosperous European market and the opportunities that lie within and also open a new market in the most efficient way.
3. Access to the Schengen Area for third-country nationals
Greece is a member of the Schengen Area, an area comprising 26 European states that have officially abolished passports and other types of border control.
The travel privileges that you get if you are a holder of the residence permit include:
- You can travel freely within the Schengen zone without the customs checks.
- You can travel from your own country of origin to any Schengen zone.
Through the residency program, the executives, administrators, or board members of the Greek branch or the Greek subsidiary will be able to have access to the Schengen area with their residence permits and travel without problems.
4. Prosperous business and investment opportunities
In Greece, a new, advanced and emerging economy is in the making. In parallel, investment opportunities are abundant and attractive in a wide variety of sectors. Greece’s massive reform efforts are opening new investment frontiers that reward both first movers and established players, giving investment (tax and subsidies) and immigration incentives.
The next decade is set to see sustained growth in tourism, ICT, energy, pharmaceutical and environmental sciences, food, real estate, beverage and agriculture, logistics, and life sciences.
5. Access to highly qualified and English-speaking personnel
The potential entrepreneur is able to recruit and hire highly educated, trained, and qualified personnel, and English is the second language that a majority of the Greeks speak.
6. Greece offers a modern and high-quality lifestyle
Greece is one of the sunniest countries in Europe and provides a modern and high-quality lifestyle. In Greece, the cost of living is lower compared to the rest of Europe, and every resident can enjoy a sunny life, combined with unparalleled beauty and diversity in landscape and nutrition, and also plenty of options for recreation.
Greeks are friendly and hospitable, and both EU and non-EU nationals living in Greece can enjoy a relaxed lifestyle, including outdoor activities, modern culture, and social activities.
Conclusion
In the post-Brexit era, through the residency program, many British citizens and other third-country nationals have successfully gained access to the European Union and its markets, along with Greece’s beautiful way of living and the vast business and investment opportunities that lie within it.
For more information on the Greece Residence Permit for executives, administrators, or board members and all types of work permits and visas, contact us to speak to an expert from our immigration team directly.
