The Golden Visa Programme 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, the Golden Visa llaw in Greece has been optimised 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 a few upcoming amendments for the Golden Visa Programme.
Even though the amendments have not been voted upon yet, the alleged changes will include the following:
- Investors will now be able to apply for a Golden Visa (permanent residence permit) by depositing funds, 400.000€ 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 by participating in the capital increase of the company by investing once again 400.000 €. 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.
It is important to note that this is a positive change, increasing the options offered to foreign investors that wish to apply for a permanent residence permit in the Schengen Zone and as far as we know these changes will not affect the existing terms of the Programme.
To put this into context, so far one could apply for a Golden Visa either by purchasing any type and any number of real estate in Greece, or setting up a company in Greece, both at a minimum of 250.000€ . These options will continue to exist. The changes stated about are merely add-ons, at a higher minimum amount of investment, for investors who are interested in alternative business endeavours.
From our perspective as investment consultants, the first and most popular branch of the Golden visa law, real estate investment seems to be the prevailing and most valuable choice. With thousands of investors buying property in Greece, the terms are flexible, including every type and number or properties, it allows an immediate and steady return on investment while offering a significant remaining value for re-sell opportunities as a tangible asset.
Being a part of the Golden Visa Programme in Greece from the beginning and helping investors as consultants and partners, we have vast experience customising investment propositions. We are confident we can assist you with your journey and facilitate your research when it comes to the best ways of investing in Greece. Please do not hesitate to get in touch to share your thoughts on the new amendments or sign up to our newsletter to be notified when they will be in effect.
Sources: Photo of Athens by Night by Jimmy Teoh on Pexels
Graph Illustrating the ways to get a Golden Visa created by our team. Please, if you wish to use our material, make sure it is for non-commercial use and kindly include a link to our website. Thank you.