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In an effort to improve the regime of residence permits granted to citizens third countries (i.e. natural persons which do not have the Greek nationality or the nationality of any other member- state of the European Union) who invest in Greece, and taking into consideration the needs of the Greek economy as well as the increasing interest of foreign investors, the Greek Parliament recently voted an amendment of law 4251 of 2014– the Immigration Code – (the “Law”) and more particularly of section 16 of the Law regarding granting and renewal of residence permits for investors.
Pursuant to the foregoing, the Law provides for the following investor residence permits:
The EU’s General Data Protection Regulation (GDPR), which applies as of May 25th 2018, supersedes all EU member state’s national data protection laws.
The Regulation brings a 21st century approach to data protection. It expands the rights of individuals to control how their personal information is collected and processed, and places a range of obligation on organizations to be more accountable.
The Greek Cadastre was established by the Greek Government as a result of the Ministry of Finance and the Ministry of Environment jointly cooperating to create a complete and consistent real estate property database. The Greek Government aims towards fully organizing and operating the Greek Cadastre by the year 2020 on account to European Union memorandum policies.
Law 4251 of 2014, also referred to as the Immigration and Social Integration Code, (as amended and hereinafter referred to as the “Law”), provides the opportunity to non- European Union nationals to obtain a permanent residence permit by investing in real estate in Greece. This is also known as the Golden Visa Program.
Law 4256/2014 on “Touristic Yachts and other provisions” abolished the requirement for commercial pleasure yachts wishing to start and end the same charter in Greece to be in possession of a valid Greek charter license, and instead replaced it with the obligation to register with a special online “Registry of Touristic Yachts and Small Vessels”.
Law 4419/2016 (the Law) as amended, which came into effect on 20.09.2016 adapted the Greek legislation to the European Directive 2014/40/EU, i.e. the Tobacco Products Directive, also known as TPD, aiming to set out unified quality and safety requirements throughout the EU in relation to the electronic cigarette (e-cigarette) and e-liquids.
The application of the Regulation (EU) No 650/2012 of the European Parliament and of the Council dated 4 July 2012, on jurisdiction, applicable law, recognition and enforcement of decisions and acceptance and enforcement of authentic instruments in matters of succession and on the creation of a European Certificate of Succession (hereinafter the Regulation) entered into force in Greece on 17th August 2015 and brought significant changes in the field of international succession law.
Law 4072 of 2012 (the “Law”) introduced in Greece a new type of company, the Private Company (“PC”) (“Idiotiki Kefalaiouchiki Etaireia” or “IKE” in Greek) in order to meet the growing need for a modern and flexible middle- sized company.
After three years since its creation, the Private Company may be characterised as a success with the establishment up to this day of over 9700 Private Companies since 2012 and a clear preference of businesses to choose this type of company over the pre- existing structures, according to an announcement of the Ministry of Development in April 2014.