The representatives of stockbrokers in Greece have asked Wednesday for their intervention in the Standing Committee on Production and Trade of the Parliament to reduce the investment threshold for shares to acquire the “Golden Visa” from 800,000 euros to 300,000 euros
The committee discussed the bill Ministry of Economy and Development, which incorporates into Greek law Directive (EU) 2016/943 expanding major changes in the Golden Visa regime for inclusion of bonds, shares and other investments.
The stockbrokers who represented in the Standing Committee on Production and Trade by the members of the Board of Directors believe that the limit of 800,000 euros set for the equity markets is extremely high and it is disheartening for prospective golden visa investors.
The Standing Committee on Production and Trade is designated as competent on matters of the Ministry of Economy, Infrastructure, Shipping and Tourism and of the Ministry of Reconstruction of Production, Environment and Energy
On this basis, a third-country national who has invested in one of the following categories will be allowed to enter and stay in Greece:
-Purchase of shares, corporate bonds and / or Greek government bonds, which are admitted to trading or traded on regulated markets or multilateral trading facilities operating in Greece with a minimum acquisition value of 800,000 euros.
– A minimum deposit of 400,000 euros in a domestic credit institution, with a minimum annual maturity, with a standing order for renewal.
– Acquisition of Greek government bonds with a value of at least EUR 400,000 and a remaining maturity at the time of purchase of at least three years through a credit institution established in Greece.
– Purchase of units with an acquisition value of at least EUR 400,000 in a mutual fund set up in Greece or another country and intended to invest exclusively in shares of corporate bonds or Greek government bonds.
– A capital injection of at least € 400,000 to a real estate investment company (REIC) that aims to invest exclusively in Greece to acquire shares in an increase in its share capital.
– Capital contribution of at least € 400,000 to a venture capital company (EPE).
– A capital injection of at least € 400,000 to a company domiciled or located in Greece to acquire shares in a share capital increase or bond issue on a bond issue that is admitted to trading on regulated markets or multilateral trading facilities operating in the Hellas.
Currently the real estate option is the most popular and cheapest route with 250,000 euros for Greek permanent residiency. Due to rising prices in the property sector, the Greek government introduced other investment options for golden visa investors last month.
Greece remains the best golden visa program in the world.
The scheme attracted large number of investors from China, Russia, Turkey, Lebanon and over 3600 golden visas issued to property investors from the start of the scheme to Nov 2018, according to Enterprise Greece report.
Amendments to Greek golden visa in 2018, provides golden visa investors a path to Greek citizenship after 7 years of living
