The Greek government has announced recently the extension of the golden visa program, implementing new legal amendments for the interested third country individuals.
The Greek visa program has attracted many investors the last few years. Investors and entrepreneurs who want to operate or relocate in the EU consider Greek golden visa plan, since is one of the most attractive and valuable visa schemes around. The plan until now was offering a five year residence permit to people who invested in real estate in the country.
The Greek government has announced recently the extension of the golden visa program, implementing new legal amendments for the interested third country individuals. The purpose is to allow third country nationals (non-EU) to be able to acquire the visa not only when purchasing real estate worth €250.000 but also in case the investor wishes to invest in shares, bonds or perform deposits to Greek credit institutions.
The ministry of Economic and Development has the legal amendments ready for approval that will allow the acquisition of residency visa via eight additional categories of investment on intangible assets.
The new legal amendments on the Greek golden visa scheme.
Properties in the center of Athens have become a great bargain for Asian investors in the last few years.
Besides the acquisition of real estate valued at €250.000, Greece will allow the entry and residence to third country nationals that have invested in one of the below categories.
- Injection of capital of minimum €400.000 in a company that is Greek resident or has premises in Greece for the acquisition of shares or bonds.
- Injection of capital of minimum €400.000 for acquisition of shares, in an SA Property Investment company (Public Limited company) with purpose of investing exclusively in Greece.
- Injection of capital of minimum €400.000 in a Venture Capital Company for share acquisition only if the venture is planning to invest in local businesses.
- Investment in Greek government bonds with minimum value of €400.000.
- Future deposit of minimum €400.000 to a National Banking Institution, of at least one year duration with a fixed renewal order.
- Purchase of shares, company bonds or government bonds which are imported for negotiations into regulated markets or multilateral trading negotiations that are applied locally, with the acquisition minimum at the price of €800.000
The above new amendments are expected to further enhance the investment wave from international business people that are willing to invest in the country which is full of opportunities. Greece golden visa has become very popular to Asian entrepreneurs realizing the opportunities in the real estate sectors. With the above updates the government aims to enhance the development on other business sectors.
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