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Has Greece established other forms of investment besides real estate that grant Golden Visas?

I heard about other investment routes but I am not sure what they are. Have Greek authorities established new guidelines?


Answers
  • Energopiisi SA Investment Consulting Services
    June 22, 2019

    The Greek government voted recently the following amendment to the article 16 of 4251/2014 law , coming in force at the beginning of July 2019. The above regulation aims to improve and supplement the current resident permit scheme for third-country nationals investing in Greece (the Golden Visa), taking into account the needs of the Greek economy, the interest shown by foreign investors and the relevant international practice. According to the above amendment, the Greek government extends the scope of the existing scheme by adding intangible investments to investment activities for which a permanent resident permit may be issued to third-country nationals. In particular, this provision adds the following eight alternative categories of intangible investments which contribute to the development and stimulation of the national economy: purchase of shares with a minimum 400,000 euros in a share capital increase or bonds issued on a bond loan for companies based or located in Greece, and listed on the Greek stock market; contribution with a minimum 400,000 euros to a share capital increase of a real estate investment company aiming to invest exclusively in Greece; contribution with a minimum 400,000 euros to a private equity fund toward the acquisition of shares, or to a venture fund to acquire shares provided these are invested exclusively in companies with headquarters and or established in Greece; with a minimum 400,000 euros purchase of Greek government bonds, with a minimum acquisition cost and a residual maturity of at least three years from the time of purchase through a credit institution based in Greece; with a minimum time deposit with a minimum 400,000 euros in a national credit institution for at least one year with a standing order for its renewal; with the purchase with minimum 800,000 euros of shares, corporate bonds traded or up for trade on regulated markets, or in multilateral trading facilities operating in Greece; the purchase of stakes with a minimum 400,000 euros in a mutual fund established in Greece, or elsewhere, which intends to invest exclusively in shares, corporate bonds and/or in Greek government bonds; with the purchase of stakes or shares with a minimum 400,000 euros in an alternative investment fund established in Greece, or in another EU country, and aims to invest exclusively in real estate in Greece. Joint ministerial decisions of ministers of migration policy, economy and development and, where appropriate, foreign affairs, deal in particular with issues of application of these provisions. The above options have nothing to do with property acquisition with 250,000 euros minimum or investment activity of 250,000 euros and are coming as additional and alternative ways for foreign investors to participate to Greek Golden Visa program.

  • Stilianos Ch. Proestakis
    June 19, 2019

    The Greek government is eyeing changes in the Golden Visa scheme that grants non-EU third-country nationals long-term resident permits in the country for property purchases exceeding 250,000 euros, with a coming draft law expanding the forms of investments required for eligibility. In confirming a recent report, the finance ministry draft bill will allow the purchase of shares or bonds, via participation in a share capital increase or bond issue loan, to count toward the visa requirement. The provision mandates an investment in companies based in Greece and listed on the Athens Stock Exchange. A further expansion of the regime allow the investment of capital in a real estate holdings company exclusively active in Greece. Finally, would-be visa holders will also become eligible with the purchase of shares or stakes in Greece-based investment funds. As now in Greece elections for a new government are about to take place, we have to wait a bit longer for the new guidelines.

  • Papalois & Associates Legal
    June 20, 2019

    This is correct. It is about the investing to the greek banking system or to the Greek government or to share market 400,000 euros.

  • Kessari-Papadopoulos Law Office
    June 20, 2019

    Yes. They have established investment in the capital of investment companies.