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How involved can I be in a business as a board member while I’m a Golden Visa holder?

I obtained my resident permit two years ago through the Golden Visa program. Recently, I was approached by a trading company for the position of a Greece-China relationship advisor. The company also promised to make me a board member. I heard that to exercise any activity as a shareholder or a board member in an existing Greek company does not fall under the employment limitation of the Golden Visa program. Does this mean I could work for them? Do I have to apply for any kind of work permit or certificate? Are there any risks in doing this?

Answers
  • Mary Tsiganou
    Synergia Technical and Consulting SA
    November 13, 2018

    In no case does the resident permit for property owners provide access to any type of employment. Employment, according to paragraph 6, article 20, of Law 4251/2014, does not include the exercise of economic activity in the capacity of a shareholder or BOD member, or a chief executive officer for an already existing company. So, following the proposal for cooperating with an already existing company under the above mentioned roles is no problem for you. You could accept the position without any specific work permit.

  • Vasiliki Papaloi
    Papalois & Associates Legal
    November 13, 2018

    You can do this without applying for any work permit. But you cannot issue invoices and get paid through the bank or any other way. So you will not have an obligation to be insured.

  • Elissavet (Isabelle) Razi
    Right Target Estate
    November 13, 2018

    This all depends on what kind of company this is. To be a shareholder or a board member doesn't automatically mean that you must obtain the work permit.

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