The Greek government plans to amend its residency by investment program to increase the level of transparency, according to the daily Naftemporiki. Moreover, the government intends to expand the program to provide additional investment options. It means that there will be eight more investment structures for those High Net Worth Individuals, who want to become permanent residents in Greece but are not interested in purchasing properties. The Parliament will discuss the plan of the Economy Ministry during the coming period. Under the current Greek Golden Visa program, investors from third countries can become permanent residents of the EU Member State, if they purchase a residential real estate for at least 250,000 euros. When the parliament ratifies the amendment, the applicants will be able to choose the following options as well to become Greek residents:

• A contribution of minimum €400,000 capital to a company based or registered in Greece.
• A contribution of minimum €400,000 to a property investment firm which aims to invest only in Greece, to acquire shares in share capital increase.
• A capital contribution of at least €400,000 in a private equity fund by the acquisition of shares, or to a venture fund to acquire dividends provided these be invested only in companies with headquarters and or registered in Greece.
• The purchase of government bonds, with a minimum value of €400,000 and a residual maturity minimum three years through a financial institution based in Greece.
• A minimum time deposit of €400,000 in a Greek financial institution for at least a year with a standing order for its renewal.
• The purchase of shares, corporate bonds or of government bonds traded or up for trade on regulated markets or in multilateral trading facilities operating in the country, valued at a minimum of €800,000.
• The purchase of stakes at least for €400,000 in a mutual fund established in the country, or elsewhere, which intends to invest exclusively in shares, corporate bonds and in local government bonds.
• The acquisition of stakes or shares with a value of at least €400,000 in an alternative investment fund established in Greece, or another Member State of the European Union, to invest exclusively in Greek real estate.

Click here for all the detailed information on the Greek Golden Visa Program!

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