The Hellenic Republic has enacted Law 5079/2023, amending existing immigration legislation to streamline obtaining legal residency and change the work authorisation procedure. Significant updates aim to attract foreign investment and talent.
What's new: Key policy changes
- Primarily, the current Immigration Code extends until 31 March 2024, postponing the revised Code's enactment.
- Additionally, investors fulfilling minimum property purchase requirements under the Golden Visa programme by 31 July 2023 can complete transactions by 30 April 2024.
- Moreover, new multi-year permit categories apply to shareholders injecting €500,000 into Greek companies or directors legally representing domestic firms/branches with €4 million annual turnover/assets.
- Furthermore, electronic permit processing and renewal submissions also commence.
- The Senior-Level Employee Article abolishes 31 December 2023 without replacement.
- Holders requiring 2024 renewals must amend immigration status to alternatives like UK Blue Card or Special Purpose Residence Permit.
- EU Blue Cardholders with 18 months prior issuance in another Member State may enter and apply in Greece under relaxed rules:
- min. contract duration must be six months
- adjusted salary requirements
- no entry visa prerequisites
- Valid intra-company transferee licensees may also enter, reside and operate in the country.
In totality, expanded deadlines and eligibility ease residency for qualifying individuals. Those seeking Greek residency should consult experts regarding updated regulations and procedures taking effect 31 March 2024.
Specialist assistance navigating new requirements is available from YB Case. Please contact us directly for comprehensive guidance on obtaining Greek residence permits under the 2024 immigration legislation.