Economic & Business Laws — Greece

Economic and Business Laws for Immigrants in Greece

*Note: Greek immigration and business law changes periodically, often influenced by EU regulations. Always verify current requirements with a Greek immigration lawyer, the Ministry of Migration and Asylum, or Enterprise Greece before making decisions.*

Right to Work by Visa/Permit Type

EU/EEA/Swiss Citizens

• Full right to work without permits under freedom of movement
• Must register for a Greek tax number (AFM) and social security number (AMKA)
• Registration certificate required after 3 months of residence

Non-EU Nationals: Visa Categories

Type D National Visas (long-stay)

• Type D visas do not automatically grant work rights; the residence permit obtained afterward determines work authorization

Employment Residence Permits

• Dependent employment permit: Tied to a specific employer initially; requires employer to secure prior approval through the "vacancy position" process
• Seasonal work permit: Valid up to 6 months, common in agriculture/tourism
• Blue Card (EU Blue Card): For highly-skilled workers; requires salary threshold (approximately 1.5x average Greek gross salary, verify current figure) and higher education degree or 5+ years relevant experience

Digital Nomad Visa

• For non-EU remote workers employed by foreign companies
• Minimum income requirement: approximately €3,500/month (verify current threshold)
• Does NOT permit working for Greek employers or Greek clients

Golden Visa Holders

• Residence permit does NOT automatically confer work rights
• Investors must apply separately for work authorization if they wish to be employed
• Can, however, establish and operate their own business

Family Reunification Permits

• Spouses/dependents generally gain work rights, though timing varies (often after permit issuance)

Student Visas

• Limited work rights: typically up to 20 hours/week during studies
• Post-graduation job-seeker permits may be available (verify current provisions)

Asylum Seekers

• Right to work typically granted after 6 months from application registration, subject to labor market conditions
• Access can be complex in practice; verify current implementation

Starting a Business as a Foreigner

Business Structures Available

• Sole proprietorship (Ατομική Επιχείρηση): Simplest form, personal liability
• IKE (Private Company): Minimum capital as low as €1, popular for small businesses
• EPE (Limited Liability Company): More formal structure
• AE (Société Anonyme): For larger enterprises, minimum capital requirements apply (~€25,000, verify current threshold)

Key Requirements for Non-EU Nationals

• Valid residence permit is typically prerequisite to business registration (though Golden Visa applicants can invest before full residency)
• Tax registration number (AFM) — mandatory first step
• Registration with GEMI (General Commercial Registry)
• Registration with relevant Chamber of Commerce
• Social security registration (EFKA) for self-employed status

Self-Employment Residence Permit

• Requires business plan demonstrating economic viability
• Minimum investment thresholds apply (historically around €60,000, though this varies by activity type—verify current figures)
• Must show the business will benefit the Greek economy or create local employment

Licensing and Sector-Specific Rules

• Certain professions require additional licensing (legal, medical, engineering) with recognition of foreign qualifications
• Some sectors have restrictions on foreign ownership percentages (media, security services)

Foreign Investment Restrictions

Generally Open Economy

• Greece maintains a relatively liberal foreign investment regime, particularly for EU investors
• Non-EU investment subject to some screening mechanisms

Restricted/Sensitive Sectors

• Defense and security: Requires special government approval
• Media: Ownership caps and approval requirements for non-EU entities
• Energy infrastructure: Subject to national security screening under EU FDI Screening Regulation framework
• Real estate near borders/military zones: Requires special permits (relevant for islands near Turkey, northern border areas)
• Telecommunications: Some regulatory oversight for strategic infrastructure

EU Foreign Direct Investment Screening

• Greece implements EU-wide FDI screening for investments in critical infrastructure, technology, and sensitive sectors
• Non-EU investors in these areas may face additional review timelines

Property Ownership Rights for Non-Citizens

Non-EU Nationals

• No general restriction on residential or commercial property purchase
• Border area restrictions: Special permit required for property in designated "sensitive" border regions (many Aegean islands, Thrace, parts of the mainland near international borders)
• Permit obtained through regional Decentralized Administration office
• Process can take several months

Golden Visa Program (Key for Property Investors)

• Minimum investment thresholds (subject to recent increases):
• €800,000 in high-demand areas (Athens, Thessaloniki, Mykonos, Santorini, and other popular islands) — verify current figure, as thresholds increased in 2023-2024
• €400,000 in other regions
• Lower thresholds may apply for specific property types (e.g., converting commercial to residential)
• Grants 5-year renewable residence permit (not citizenship)
• Does not require actual residence in Greece to maintain status
• Property must generally be held to maintain the permit

EU Citizens

• No restrictions; same rights as Greek nationals

Permanent Residents

• Once permanent residency (after 5 years typically) is obtained, property rights mirror those of citizens with no special restrictions

Banking Access for New Immigrants

Opening a Bank Account

Required documents typically include:

• Passport/ID
• Greek Tax Number (AFM) — mandatory
• Proof of address (rental contract, utility bill)
• Residence permit or visa (for non-EU nationals)
• Proof of income source (increasingly required due to AML rules)

Practical Considerations

• AFM is the critical first step—obtainable at local tax office (ΔΟΥ) even before residence permit finalization in some cases
• Major banks: Piraeus Bank, Eurobank, National Bank of Greece, Alpha Bank
• Some banks have specific "newcomer" or expat account services
• Non-residents may face additional scrutiny under anti-money laundering (AML) regulations, especially for larger transfers
• Golden Visa applicants must transfer investment funds through a Greek bank account, subject to source-of-funds documentation

SEPA and EU Integration

• As Eurozone member, standard SEPA transfers apply for easy EU banking integration
• IBAN required for most transactions, salary deposits

Labor Law Protections for Immigrant Workers

Core Protections (Apply Regardless of Nationality)

• Minimum wage: Set nationally (approximately €830/month gross as of 2024, verify current figure—subject to periodic increases)
• Working hours: Standard 40-hour week, overtime regulations apply
• Paid leave: Minimum 20-23 days annual leave depending on tenure (increases with years of service)
• Social security contributions: Mandatory EFKA enrollment for employees and self-employed

Anti-Discrimination Framework

• Greek law prohibits discrimination based on nationality, race, religion in employment (per EU directives and national implementing legislation)
• Equal pay principles apply regardless of immigration status once legally employed

Specific Vulnerabilities and Protections

• Work permit tied to employer: Many permits restrict workers to a specific employer, creating dependency risk; changing employers often requires new permit application
• Undocumented workers: Greek law technically extends some labor protections (minimum wage, safety standards) even to undocumented workers, though enforcement is inconsistent
• Seasonal agricultural workers: Historically vulnerable to exploitation; some specific protections have been introduced but enforcement gaps remain documented by NGOs and EU bodies

Termination and Dismissal

• Notice periods and severance pay apply based on tenure, generally without discrimination by nationality
• Unfair dismissal claims can be pursued through Greek labor courts

Trade Union Rights

• Immigrant workers generally have the right to join Greek trade unions
• Some unions have specific outreach programs for migrant worker populations

Enforcement Bodies

• Labour Inspectorate (SEPE): Handles complaints regarding wage theft, unsafe conditions
• Ombudsman's Office: Can handle discrimination complaints

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Key Recommendations

• Consult a Greek immigration/business lawyer before finalizing any visa, business, or property decision—rules on thresholds and permitted sectors change frequently
• Verify Golden Visa thresholds directly with the Ministry of Migration, as these have increased significantly in recent policy updates
• Check current minimum wage and Blue Card salary thresholds, which are typically adjusted annually
• Confirm border-zone property restrictions with the local Decentralized Administration before purchasing in island or border regions
• Enterprise Greece (the national investment promotion agency) offers official guidance for foreign investors and can clarify current sector restrictions

More about immigrating to Greece