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Greece expands range of investments for Golden Visa Program

A new draft bill prepared by the Economy and Development ministry will add intangible investments into Greece’s Golden Visa program for third country, that is non-EU, citizens.

The draft law on harmonising Greek legislation with an EU directive on commercial secrecy includes a regulation aiming to improve and to add to existing regulations offering residence visas to third-country citizens investing in Greece (golden visa programme).

Under the new regulation, there will be a restriction on the number of investors participating as individuals in an investment project and each one will be offered a residence permit, provided that each invests the minimum required capital.

The regulation also envisages residence permits to third country nationals participating as shareholders or executives in a corporate entity investing in Greece (maximum three persons).

Residence permits will also offered to up to 10 persons from third countries participating in an investment project who are needed to work for the implementation and operation of the project.

The new regulation expands the range of investment activities providing eligibility for a golden visa to include intangible investments (stock and shares, bonds, capital injection in real estate investment companies, mutual funds, state bonds, time deposits in Greek banks). [amna]

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