Turkish citizens can establish a legal presence in Greece by opening a branch of their existing company in the country and apply for a residence permit through this method. This approach is especially strategic for entrepreneurs aiming to expand their business activities into the European Union market.
Company Establishment Requirements
The minimum capital required to establish a company varies depending on the sector. In theory, a company can be established with as little as €1 capital. However, when the goal is to obtain a residence permit, additional requirements come into effect depending on the sector of investment.
Example 1 – Under Law No. 89/1967
Within 12 months after the company branch establishment decision takes effect:
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At least 4 employees must be hired in Greece (one of whom can be part-time).
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A minimum of €100,000 operating expenses must be incurred in Greece each fiscal year.
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If the fiscal year is shorter than 12 months, the expense obligation is calculated proportionally.
The law encourages the establishment of “Shared Service Centers” or “Service Offices” in Greece. Foreign or local companies opening a branch in Greece can provide the following support services:
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Consulting, accounting support, quality control
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Project, proposal, or contract preparation
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Advertising and marketing
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Data processing and information gathering
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R&D, software development, supply chain management, HR training, and call center services
Example 2 – Under Article 97 of Law No. 5038/2023
Third-country nationals who want to establish and operate a company in Greece may be granted a residence permit if they invest at least €500,000.
The permit is granted based on the decision of the Greek Ministry of Migration and Asylum and the recommendation of the Foreign Direct Investments Directorate of the Ministry of Development and Investments, upon determining that the investment contributes to national development and the economy.
Article 97 – “B.2” Residence Permit (Business Establishment Through Investment)
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Investment Requirement: Establish and operate a company in Greece with a minimum investment of €500,000
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Purpose: Contribution of the investment to national development and the economy
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Scope: Residence permits may also be granted to company managers, board members, or shareholders in addition to the applicant
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Validity: The initial residence permit is valid for 5 years and is renewable
Process and Benefits
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Branch establishment: Register your Turkey-based company in Greece or directly establish a new company in Greece
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Residence Permit: Application for company managers, partners, and key personnel
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Family Inclusion: Spouse/partner and children under 21 can be included with the investor
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Access to EU Market: As an EU member, Greece offers customs union and free trade advantages
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Path to Citizenship: Persons who reside at least 183 days a year, have a clean criminal record, and pass Greek language and culture exams can apply for citizenship after 7 years
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Note: Residence permit holders cannot stay outside Greece for more than 6 months. However, uninterrupted absences of up to 12 months may be accepted for special reasons such as compulsory military service, pregnancy/childbirth, serious illness, or education.