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IMPACT – MEDIUM
What is the change? Greece’s new immigration law introduces major changes aimed at simplifying and streamlining procedures and fast-tracking investment-related residence permits.
What does the change mean? The main changes include mandatory online payment, longer durations for residence permits, fast-track service for investors and elimination of short-term permanent residence permits.
Background: On June 1, the new law, No. 4251 of 2014, took effect. The main changes are:
BAL Analysis: The immigration changes, in particular the longer residence permit validity and fast five-day processing of residence permits for investors, are aimed at easing red tape and attracting investors to improve Greece’s economy.
This alert has been provided by the BAL Global Practice group and our network provider located in Greece. For additional information, please contact your BAL attorney.
Copyright © 2016 Berry Appleman & Leiden LLP. All rights reserved. Reprinting or digital redistribution to the public is permitted only with the express written permission of Berry Appleman & Leiden LLP. For inquiries please contact copyright@bal.com.
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