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If I withdraw my Greece Golden Visa, are there any restrictions on money transfers from my Greek bank account to my account in a non-EU country?

I'm applying for the Golden Visa with a 400k euro term deposit investment, and I know to keep the Golden Visa valid, the fixed term deposit must be renewed every 12 months. If, in the future, I decide not to renew the permanent residence, can I transfer my 400k euro to my account in another country freely? How do the restrictions work?

  • Foutsis & Partners Law Firm
    May 26, 2023

    No restrictions. You can transfer the funds.

  • Synergia Technical and Consulting SA
    May 25, 2023

    The holder of a valid residence permit for investment in one of the categories of intangible assets (Art. 16 Law 4251/2014), including term deposit of 400.000 euros, may liquidate the investment at any time in order to invest within an exclusive period of two months, in another category of this or in immovable property, according to paragraph B of article 20. In this case, the citizen of a third country keeps the already granted residence permit until the completion of the procedures for certifying the new overall investment and granting the residence permit pursuant to it. Alternatively, if the investor does not want to continue with Greek Golden Visa Program, he can liquidate the said term deposit and transfer his funds to any bank account he wishes to. There are no restrictions on this.