‘Golden visa’ for in­vest­ment prod­uct buy­ers

Kathimerini English - - Focus - ANESTIS DOKAS

Se­nior of­fi­cials at the Cap­i­tal Mar­ket Com­mis­sion and Athens Ex­change are plan­ning to travel to China in the last week of Au­gust to present Chi­nese in­vestors with the op­por­tu­nity to ob­tain a “golden visa” through the ac­qui­si­tion of Greek in­vest­ment prod­ucts.

To date non-Euro­pean Union cit­i­zens can se­cure a five-year res­i­dence per­mit, al­low­ing them ac­cess to all 28 EU mem­ber-states, only by way of buy­ing real es­tate as­sets worth at least 250,000 eu­ros.

Now ne­go­ti­a­tions are tak­ing place – and are on a good course – for Chi­nese in­vestors to get the chance of ob­tain­ing the visa by ac­quir­ing Greek in­vest­ment com­modi­ties, with a min­i­mum in­vest­ment amount of 300,000 eu­ros.

To that end the Cap­i­tal Mar­ket Com­mis­sion is dis­cussing with the Shen­zhen stock mar­ket ways for the Chi­nese wish­ing to get the visa to do so via Ex­change-Traded Funds (ETFs) from their coun­try or via other in­sti­tu­tional in­vest­ment in­stru­ments such as mu­tual funds.

Such a move would re­quire a co­op­er­a­tion agree­ment be­tween the mar­ket watch­dogs of the two coun­tries, which is why Cap­i­tal Mar­ket Com­mis­sion of­fi­cials are plan­ning to travel to China next month.

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