Greece launched a new set of criteria on Thursday for offering a Golden Visa to foreign citizens, setting out procedures for the granting of a five-year entrance and residence permit in Greece to non-EU nationals.
More specifically, in order to qualify, a third-country citizen must either invest at least 400,000 euros in a company based in Greece (excluding portfolio-investment companies and real estate investment companies), buy shares through a share-capital increase scheme or bonds through a bond issue.
In a nutshell, prospective Golden Visa applicants must do the following:
- invest at least 400,000 euros in a real estate investment company investing exclusively in Greece or buy shares through a share-capital increase scheme;
- invest at least 400,000 euros in a capital equity company or an equity mutual fund investing exclusively in companies based in Greece;
- invest at least 400,000 to buy Greek state bonds with a maturity of at least three years through a credit institution based in Greece;
- have a time deposit of at least 400,000 euros at a domestic credit institution with a duration of at least 12 months;
- buy shares, corporate bonds or state bonds worth at least 800,000 euros;
- invest at least 400,000 euros in a mutual fund investing exclusively in shares, corporate bonds or state bonds;
- invest at least 400,000 euros in buying shares in an Alternative Investment Organisation set-up in Greece or in another EU member-state that invests exclusively in real estate assets in Greece.
- (It is noted that The minimum price for investing in a real estate asset in Greece is set at 250,000 euros).
In the case of corporate investments, the entry and stay of third-country nationals is allowed when a foreign citizen invests at least 400,000 in a domestic company.
Up to three citizens will receive a Golden Visa for investments made by a foreign company (these people are shareholders or executives in the company).
The government envisages that the maximum amount of investments in Greece, depending on the value of investments made by a foreign company, will be least 800,000 euros for one permit, 1.6 million for two permits and 2.4 million euros for three permits.
This sum is raised to 1.6 million, 3.2 million and 4.8 million euros for one, two or three permits for investing in shares, corporate bonds or state bonds.