Ask A Question  | Learn more about Greece

Is the process of investing in the new Golden Visa investment routes for Greece different than the real estate option?

I understand that the new investment types for Greece will be in effect soon. But how do I begin to find those investments? Can you offer any general advice of where to start?


Answers
  • Energopiisi SA Investment Consulting Services
    June 29, 2019

    The Greek government voted recently for 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 eight alternative categories of intangible investments which contribute to the development and stimulation of the national economy. About the evaluation and choice of the above options you have to address a consultancy company to guide you in a safe and effective way. The 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 28, 2019

    Once the amendment is ratified, non-EU citizens seeking Greek residency rights in the Schengen Area can select one of the following eight alternative options: One, with the purchase of shares 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. Two, with a set contribution to a real estate investment company aiming to invest exclusively in Greece, to acquire shares in share capital increase. Three, with a set contribution 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. Four, with the purchase of Greek government bonds, with a minimum acquisition cost of 400,000 euros and a residual maturity of at least three years from the time of purchase through a credit institution based in Greece. Five, with a minimum time deposit of 400,000 euros in a national credit institution for at least one year with a standing order for its renewal. Six, with the purchase of shares, corporate bonds and/or of Greek government bonds traded or up for trade on regulated markets, or in multilateral trading facilities operating in Greece, valued at a minimum of 800,000 euros. Seven, with the purchase of stakes in a mutual fund established in Greece, or elsewhere, which intends to invest exclusively in shares, corporate bonds and/or in Greek government bonds. Eight, with the purchase of stakes or shares in an alternative investment fund established in Greece, or in another EU country, and aims to invest exclusively in real estate in Greece. The above alternatives are more complex than the real estate option of obtaining the Greek Golden Visa. In every step several experts will be needed.