'N': Greek govt to expand 'golden visa' program by including business investment; shares, bond purchases

Thursday, 08 November 2018 23:51
UPD:23:53
INTIME NEWS/ΧΑΛΚΙΟΠΟΥΛΟΣ ΝΙΚΟΣ

The investment minimum of 250,000 euros for property transactions remains in tack, as well.

By S. Zisimos

zstam@naftemporiki.gr

The Greek government is ready table a draft amendment in the coming period expanding the “golden visa” program for non-EU citizens, beyond the current obligation to invest at least 250,000 euros for property purchases in the east Mediterranean country.   

According to a copy of the draft legislation seen by “N”, a series of other investment outlays will be specified for meeting the primary visa-issuing criteria.

Among others, a 400,000-euro or more capital investment in a company based in or with facilities in Greece will meet the “golden visa” criterion, while excluding investment funds and real estate management firms from this category.

Similarly, a guaranteed 400,000-euro outlay in a Greece-based holding company, purchase of Greek state bonds from a credit institution in Greece of at least 400,000 euros in value and for at least a three-year period, as well as a one-year time deposit in a Greek bank of at least 400,000 euros (with an automatic renewal clause) are listed in the draft legislation.

Finally, purchases of company shares, corporate bonds and Greek state bonds through public offerings or ones traded in markets and by brokers in Greece and regulated by Greek authorities, with a minimum of investment of 800,000 euros, is also included.

The investment minimum of 250,000 euros for property transactions remains in tack, as well.

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