Greece Golden Visa, Ready to Change
Changes to Greece Golden Visa
The most recent reports show that the Greek government is planning to restructure the country’s Golden Visa program. There are several features of the program, which are going to experience changes, including: doubling the current EUR 250,000 minimum investment requirement, the physical presence obligations, and minimum annual spending.
The planned amendments to the Golden Visa Program follow:
- The minimum investment in real estate will be doubled to EUR 500,000. This would put the Greece Residence by Investment Program in line with similar programs in Portugal and Spain.
- The minimum stay in Greece will be mandatory.
- The minimum expenditure threshold of 30,000 – 50,000 euros will be set as the annual expenses.
Recently, some Greek newspapers have announced that the government plans to establish a Citizenship by Investment Program representing that of the Cypriot neighbour, although no official authorities have confirmed the news.
Apparently, the program overhaul is likely to happen very soon. Greece CIP would introduce alternative asset classes as qualifying investments for the Golden Visa Program, in particular those of equities (public and private), bonds, and deposits.
These options were first announced in 2017, although have not materialized by previous government due to the general election.
The strategic location in the Mediterranean Sea, and being the economic hub of Southeast Europe, has made Greece an attractive destination for investors. This country is focusing on a long term sustainable growth strategy.
Meanwhile, the Greece’s new government seems to be leading the country towards more investment-friendly direction, based on their recent decisions about lowering taxes and, in a few instances, removing them completely.
Greece can be an attractive place to invest. It is a leading global tourism destination, an emerging regional energy hub, and possesses highly educated and multilingual human capital.
If you need to know more about Greece investment options, please contact one of our advisors in UAE, Iran, Denmark or Canada, and we will do our outmost to guide you through your Investment and Greek Golden Visa process.
Please do not hesitate to comment if you have any questions or experiences relating to Greek Golden Visa.
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