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How can we participate in the Greek Golden Visa program as a company?

I was told that with the recent changes to the Greek Golden Visa program, it is now possible for a company to invest in the bond and stock market of Greece and its shareholders are able to obtain Golden Visas. What are the requirements for this option? How many shareholders can join one investment?


Answers
  • Energopiisi SA Investment Consulting Services
    December 21, 2019

    The acceptable options for Golden Visa acquisition from an individual, through financial products investment, are among others, according to the recent law the following ones. One can participate with a set contribution of at least $400,000 euros to a private equity fund towards 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. One can participate with the purchase of stakes of at least $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. One can participate with the purchase of stakes or shares of at least $400,000 euros in an alternative investment fund established in Greece or in another EU country that aims to invest exclusively in real estate in Greece. One can participate with a set contribution of at least $400,000 euros to a real estate investment company aiming to invest exclusively in Greece to acquire shares in share capital increase. In your case, you have to examine the possibility to establish a company or a mutual fund as above, and follow the related prerequisites set by Greek law to be approved by the Foreign Capital Division of the Ministry of Development and Investment and Capital Market Commission.

  • Stilianos Ch. Proestakis
    December 20, 2019

    An important branch of the Golden Visa law grants European residency by general investment. Even though real estate is the most popular route towards permanent residency and for a steady return on investment, there is no reason not to consider investing in energy, tourism or other sectors, especially if you have a relevant background. This means you can set up in Greece a branch of your existing business or establish an entirely new one.  As long as the total investment exceeds 250,000 euros, you are eligible for a Golden Visa. The main factor of the acceptance of the application of a residence permit via a business investment is whether or not the business is widely considered to have a positive impact on the national economy. For instance, setting up a health clinic will have more chances of being approved by the Ministry than opening a cafe. Any field of business can be taken advantage of including manufacturing, information technologies, agriculture and infrastructure. Furthermore, the law allows investors to work as shareholders and CEOs in their own company but they cannot enter the job market and be employed by someone else.