GREECE Law and Practice Contributed by: Fotodotis Malamas, Bernitsas Law
ment companies may hire companies operating in accordance with Law 3758/2009 to inform debtors of their outstanding debts, or companies with a similar objective operating in a member state of the EU or the EEA. 6.2 Fiduciary Liabilities As trusts and foundations are not institutions rec - ognised by Greek legislation (with the exception of charitable foundations), such mechanisms are not applicable. To the extent that the institution of corporate fiduciar - ies is not provided for in Greek legislation, there are no specific stipulations regulating their liability. 6.3 Fiduciary Regulation In cases where the appointment of a fiduciary is pro - vided for by law (ie, bond loans), and unless otherwise provided for in terms of a covered bonds issue, trus - tees are liable to bond holders for wilful misconduct and gross negligence. 6.4 Fiduciary Investment Trusts, foundations or similar entities are not author - ised to own or run an active business in Greece. 7. Citizenship and Residency 7.1 Requirements for Domicile, Residency and Citizenship Many foreign nationals of Greek descent or who iden - tify with the Greek culture wish to become Greek citi - zens. There are several fairly complex ways to achieve this, depending on certain characteristics of the appli - cant, including their status, place of birth, timing and origins. 7.2 Expeditious Citizenship A child born in Greece does not automatically obtain Greek citizenship, unless: • their mother was a Greek citizen during her preg - nancy and at the time of their birth; • their father was a Greek citizen at the time of their birth; or
• both their parents were non-Greek immigrants living in Greece with a valid resident’s permit for at least five consecutive years prior to their birth. If one of these requirements is met, the child may obtain Greek citizenship by birth, although parents can of course opt out and declare another country’s citizenship in accordance with the laws of that coun - try. Becoming a Greek Citizen by Going to School A child who does not fulfil any of the prerequisites mentioned above may still obtain Greek citizenship if: • they enrol in the first grade of a Greek primary school and are still attending when the application is filed; • at least one of their parents had been living in Greece legally with a valid permit for at least five years prior to the child’s birth; • at least one of the parents holds a legal resident’s card, as described in the new statute; and • they have not reached the age of 18 years. Alternatively, a non-Greek minor legally residing in Greece can still obtain Greek citizenship if they have attended at least nine years of primary/secondary Greek school, or six years of secondary Greek school. A non-Greek adult legally residing in Greece can obtain Greek citizenship if they have obtained a high school diploma in Greece and then graduated from a higher education institution (university or technical education institution). In this case, as soon as Greek citizenship is obtained, any underage and unmarried children automatically become Greek citizens as well. Claiming Greek Citizenship Through Ancestors Persons born outside Greece whose parent or parents are Greek, or who have one or more Greek grandpar - ents, are entitled to claim Greek citizenship through their ancestor(s) born in Greece. Greek Tax Residence Natural persons who have their permanent or princi - pal residence or their usual abode or centre of living interests (namely their personal or financial relations) in Greece are, in principle, considered Greek tax resi - dents.
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