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.
The procedure for applying for a residence permit by investing in intangible assets is now more flexible than ever before.
By this amendment the following are in force:
- Applicants of the golden visa residence permit are allowed to transfer foreign funds into Greece via the accounts of their spouses or blood relatives up to the second degree such as parents in law.
- Golden visa residence permit holders are allowed to liquidate their initial investment to avail another financial product or property, without losing their residency, provided the new investment is completed within two months after this liquidation.
- Moreover, the law enables golden visa applicants to diversify their portfolio by investing in more than one category of financial products, applicable to up to 3 investments as a total. Therefore, this would allow one to proceed with three different term deposits in three different banks as long as the total meets the golden visa minimum investment threshold of €400,000.
Do not hesitate to contact us for more information regarding the new legislation.