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The following constitutes brief yet thorough analysis of the current legislative framework:

According to Art. 20 of the Law on Immigration and Social Integration (4251/2014) (former Article 24 of Law 3386/2005) citizens of third countries as well as members of their families that wish to reside or otherwise live in Greece without working, are eligible to apply for a Greek residence permit on condition of independent income, or any funds from abroad be it retirement benefits or pension, job/ business savings, or grants.

This type of residence permit is issued for a period of 2 years’ time which may later on be extended, on condition that the holder of the residence permit maintains his/her income.

Non- EU citizens of adequate resources adhering to a level of steady annual income enough so in order to cover their living expenses may apply for a 2- year residence permit. Such individuals may as well be accompanied by members of their families to whom a personal residence permit is granted too

The conditionality of sufficient income applies separately for each member of the family. The minimum income is that of 2000 euros / month and in case the person is accompanied by members of his family, this amount is increased by 20% for the spouse and 15% for each child. The amount of the income may be proved by pension abroad, bank account statements or other means of evidence that prove that the person has its own sufficient income, which is of legal origin, and which is sufficient enough so as to cover his/ her expenses without being employed or involved in the exercise of an independent economic activity in Greece.

The residence permit for financially independent people is issued for a period of 2 years and has to be renewed every 3 years. With regards to access to labor market: this type of residence permit does not allow any access to the labor market.

The applicant of the said residence permit is also obliged to rent a house in Greece. The lease cost is approximately 200 – 400 euros per month.

Should the applicant of the said residence permit is a citizen of a third non-EU country, he/she is already in possession of a Residence Permit in Greece as provided for people involved in independent financial activities and wishes to visit or travel to another country within the European Union, he/she will need to have a passport:

valid for at least 3 months after the date on which he/she intends on leaving the country of the EU he/she has been visiting, and

that must have been issued within the last 10 years.

It should be noted that a valid Residence Permit for people involved in independent financial activities issued by a Schengen country (as is this case with Greece) is equivalent to a visa. Once a visa has been issued by a country in the Schengen area (as for instance in Greece), the beneficiary automatically acquires the right to travel to the rest of the Schengen countries.

Border guards of European Union countries may request additional supporting documents, eg. letter of invitation, proof that your mother has accommodation or a return ticket. For specific requirements one should always refer to the competent local consular authorities of the country of the European Union.

Step 1 – Obtain a Visa

The applicant obtains a special visa from the competent Greek embassy/consulate in his/ her country of origin. The applicant should appear in person and go through a brief interview with regards to the purpose of his/ her application.

Necessary Documents

  • Passport valid for at least three months after the expiration date of the visa
  • Criminal record Certificate of the applicant issued by the competent authorities of his/ her country of origin
  • Medical certificate issued by an officially established public or private institution, confirming that the applicant does not suffer from any disease that could be proven dangerous to public health international standards as set by the World Health Organization
  • Evidence, such as bank and/ or social security and/or pension statements proving that you have the necessary annual income of 2.000 Euros/month (additional funds, 20% for a spouse, 15% for each child)
  • Certificate that the applicant has applied to medical insurance agent for full coverage of his/ her medical care expenses during his/her stay in Greece
  • The applicant should not be part of the list of undesired people (in other words listed as a persona non-grata) and by no means should he/ she be considered a threaten to public health, public order, national security and international relations.

Step 2 – Application for the Residence Permit

Upon their arrival in Greece and until the expiration of their special visa, the applicants apply for their residence permit.

Required Documents

  • Application form in two (2) copies – to be drafted by our Firm.
  • Three (3) recent colored passport photographs.
  • True copy of valid passport or of such equivalent travel documents recognized by Greece, along with a valid visa.
  • Health Certificate issued by a Greek state hospital, certifying that the third-country national does not suffer from any disease which according to international standards and the World Health Organization (WHO) could pose a risk to public health.
  • Stamp Fee to be issued by the Greek Tax Authority.
  • Certificate proving that the applicant has applied to a medical insurance agent to obtain full coverage of his medical care expenses (In case the applicant lacks one, we can undertake the task and arrange for such an insurance policy plan to materialize in Greece).
  • Evidence that the third-country national has sufficient funds, at the level of consistent annual income.

Renewal of the Residence Permit

  • Application form in two (2) copies – to be drafted by our office.
  • Three (3) recent colored passport photographs.
  • True copy of valid passport or of such equivalent travel documents recognized by Greece, along with a valid visa.
  • Stamp Fee to be issued by the Greek Tax Authority.
  • Certificate proving that the applicant has applied to a medical insurance agent to obtain full coverage of his medical care expenses
  • Evidence that the third-country national has sufficient funds, at the level of consistent annual income.

Do you wish to obtain a valid Residence Permit in Greece for people involved in independent financial activities?

Contact us: office@oikonomakislaw.com

 

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OIKONOMAKIS CHRISTOS GLOBAL LAW FIRM is involved in more than 50 Legal Fields and currently operates eight (8) offices in five (5) countries: