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When will the new investment routes of the Greek Golden Visa be implemented?

I have heard news about the proposed revision of policies for the Greek Golden Visa, which could increase the investment choices under this program. When could we see the reform be implemented and what would the reform include?


Answers
  • Papalois & Associates Legal
    January 15, 2019

    It will be about depositing 400,000 euros to a bank account or buying the Greek government's financial products. It is still under consideration and not a law yet.

  • Energopiisi SA Investment Consulting Services
    January 15, 2019

    The Golden Visa program was launched in Greece in 2014 and since then has seen rapid growth, with international investors embracing the option to invest in Europe. Since then, it has been optimized to include more flexible, inclusive and friendly terms. In an effort to attract a broader variety and an even larger number of investments, the Greek government is discussing some upcoming amendments for the Golden Visa program, which are under public discussion and vote in the near future. Even though the amendments have not been voted upon yet, the proposed changes may include the following: Investors will now be able to apply for a Golden Visa (permanent resident permit) by depositing funds of 400,000 euros or more in a Greek bank, without the option for withdrawals for several years. They will also be able to invest in an already established Greek company by becoming a shareholder and participating in the capital increase of the company by investing, once again, 400,000 euros. Previously, they were only able to start a their own business rather than invest in an already established one. Moreover, assets like government bonds or listed shares will also be considered an eligible investment, further broadening the options for investors.

  • Aggeliki G. Androutsou
    January 15, 2019

    The law in Greece for issuing the Golden Visa has not changed. The investment must be 250,0000 euros and no new law has been passed.