{"id":8129,"date":"2022-09-07T12:17:19","date_gmt":"2022-09-07T10:17:19","guid":{"rendered":"https:\/\/www.goldenvisa-greece.com\/?p=8129"},"modified":"2022-09-07T12:18:04","modified_gmt":"2022-09-07T10:18:04","slug":"greek-golden-visa-eu-residence-permits-by-a-time-deposit-investment","status":"publish","type":"post","link":"https:\/\/www.goldenvisa-greece.com\/ar\/greek-golden-visa-eu-residence-permits-by-a-time-deposit-investment\/","title":{"rendered":"Greek Golden Visa: EU Residence Permits by a Time Deposit Investment"},"content":{"rendered":"

34,517* Greek residence permits were approved by the Greek Ministry of Immigration and Asylum, on grounds of property ownership under the Golden Visa scheme, between 2014 to 2021.<\/p>\n

The Best Golden Visa Strategy – Time Deposit <\/strong><\/h3>\n

In the foreseeable future, real estate will remain the most popular route for individuals and families in acquiring their Greek residencies.\u00a0 For some people, owning a property on a Greek island or mainland is a lifetime dream.\u00a0 A house or an apartment in the Mediterranean region, in which one can embrace\u00a0the azure sky and the turquoise waters of the Aegean or Ionian Sea, sounds like a no brainer.<\/p>\n

Be that as it may, a tiny percentage of investors opt for an alternative\u2014a time deposit, which means parking \u20ac400K in a EU bank.\u00a0 Do they lose their mind?\u00a0 At least the two with whom we spoke to recently do have their logic.\u00a0 Read on, you might click with them.<\/p>\n

The Greek Residency by Investment Program: A flexible option<\/strong><\/h3>\n

Frances considers herself one of Greece’s frequent visitors.\u00a0 She has spent several summer vacations in different parts of the country over the last 7-8 years.\u00a0 Her desire of retiring in Greece has grown solid ever since.\u00a0 But when it comes to the right spot where she would like\u00a0to settle down all year round, the soon-to-be retiree from California is hesitate.\u00a0 “You know?\u00a0 Being a traveller is different from being a resident,” she says, “there are things I need to think about…”\u00a0 Her 40-year career as an accountant naturally drives Frances to be cautious in spending money on a residency.\u00a0 “A property that is worthy \u20ac250K is a hefty investment to me.” she remarks.\u00a0 Unsurprisingly, four months ago when she heard that a term deposit is a viable option for getting her Golden Visa, she started to weight on the pros and cons.\u00a0 A week later, she flied to San Francisco and signed a Power of Attorney at the Greek Consulate there.\u00a0\u00a0“I\u00a0have my resident certificate in about two months…Now that I am officially a resident (Greek), I can stay as long as I want.”\u00a0 Frances has a plan in place, “…I will do some in-depth travels all over the country,” and when she finds a place she feels comfortable in all seasons, she will then withdraw her term deposit and pay for a home.\u00a0 “Let’s see…may be a city in the\u00a0Peloponnese…may be a village on Crete…haha!” she laughs at her daydreams while busily packing the stuffs in her house.\u00a0 A fresh start is on the horizon.\u00a0 Frances aims to\u00a0jump on a plane to Greece in July, as a local resident, this time with a family member, her pet dog Morris, plus two huge luggage.<\/p>\n

A Risk-free & Capital Safe Option\u00a0<\/strong><\/h3>\n

The other side of the planet, Mehmet took the same action of acquiring his Golden Visa by making a deposit in a Greek bank.\u00a0 He is a deviant, when his friends and relatives all secured their Golden Visas from purchasing either holiday homes or Airbnb apartments.\u00a0 “They simply think I am way too conservative,” says Mehmet, smilingly, “if not entirely stupid.”\u00a0 At age 42, Mehmet is a director of a manufacturing enterprise in Turkey.\u00a0 His job makes him aware and understand the nightmarish consequences of the devaluing of the lira.\u00a0 The prices of importing raw materials for his assembly lines have been skyrocketing since.\u00a0 Inflation in Turkey seems to be no end.\u00a0 Food and everyday goods have become luxuries.\u00a0\u00a0The purpose of a Golden Visa, Mehmet reckons, is the best way for him to convert his assets to euro, a relatively stable currency.\u00a0 Just sending an email to the bank, he can withdraw his money without hassle.\u00a0 Unlike liquidating a property, in which he needs to go through the trouble of finding a buyer and the subsequent formalities.\u00a0 Indeed, Mehmet’s choice of investments might have been a wise move, in light of the ongoing war in Ukraine. “In times of uncertainty,” he says, “cash is king.”<\/p>\n

Updates on Permanent Residence Permits for Investors<\/strong><\/h3>\n

There are several developments regarding the Financial Products option which make the Greek Golden Visa even more popular. A recent amendment to the Law governing Residency by Investment in Financial Products (Art. 16, Law 4251\/2014) has been made with the enactment of Law 4825\/2021, with effect from September 4th, 2021.<\/p>\n

The procedure for applying for a residence permit by investing in intangible assets is now more flexible than ever before.<\/p>\n

By this amendment the following are in force:<\/p>\n