The Greek Government has tabled in parliament several new amendments, expanding the scope of Golden visa scheme. Currently Greece offers golden visas for 250,000 euros in property investment in Greece.
The amendments will allow non-EU foreign investors receive five year permanent residency in Greece by making the following investments.
- Business: Investment of at least 400,000 euros in a company based or headquartered in Greece (excluding portfolio investment companies and real estate investment companies).
- Real estate investment company: Investment of a minimum of 400,000 euros in a real estate investment company aimed at investing exclusively in Greece, by acquiring shares in a share capital increase.
- Shares: Investment of at least 400,000 euros in a business holdings company for acquiring shares exclusively in companies based or headquartered in Greece.
- Government bonds: Acquisition of Greek government bonds from a local credit institution, spending a minimum of 400,000 euros with a maturity date at least three years ahead.
- Bank deposit: Placing a minimum of 400,000 euros in a time deposit at a Greek credit institution for a fixed term of at least 12 months with a fixed order for renewal.
- Share and Bonds: Investing a minimum total of 800,000 euros in shares, corporate bonds or Greek government bonds that trade in regulated markets.
- Shares in alternative investment company: Investment in shares costing at least 400,000 euros in an alternative investments corporation set up in Greece or in another EU country aimed at investing exclusively in real estate in Greece, under certain conditions.
According to latest report, Greece is receiving atleast 50 golden visa applications daily and has received over 1.5 billion euros investment.
According to Enterprise Greece, Foreign Direct Investment inflows during 2017 reached € 3,5 billion compared to. € 2,8 billion during 2016, an increase of 27.6%, marking a record for the last decade. private real estate purchases and sales, which, according to the Bank of Greece reached 1,684 million Euros during the period 2007-2017.
Piraeus and Athens are the most popular cities in Greece for property investment, according to statistics.
Enterprise Greece statistics shows, since the inception of the scheme Greece issued 5246 residence permits to property owners. During the first year in 2013, Greece issued only 16 residence permits for property owners, since then it jumped to 2305 permits in 2017 alone.
Source: Ekathimerini
