Golden Visas for bond buy­ers

Kathimerini English - - Focus - DIMITRA MANIFAVA

The Greek state is set to ex­pand its Golden Visa pro­gram for the con­ces­sion of res­i­dence per­mits to third-coun­try in­vestors in stocks, bonds and bank ac­counts, and not just real es­tate, Kathimerini un­der­stands.

In the pro­gram’s first five years, up un­til Au­gust 30, 2018, 3,154 per­mits were is­sued to non-Euro­pean Union cit­i­zens for prop­erty in­vest­ments of at least 250,000 eu­ros apiece, while the amount of money in­vested in prop­er­ties un­der the scheme has come to al­most 1 bil­lion eu­ros, Mi­gra­tion Pol­icy Min­istry data show.

Now peo­ple who in­vest a min­i­mum of 400,000 eu­ros in Greek se­cu­ri­ties will also earn the right to a five-year res­i­dence per­mit for both them­selves and their fam­i­lies. The new cri­te­ria in­clude the in­vest­ment of at least the above amount in stocks or cor­po­rate bonds in the Greek cap­i­tal mar­kets (or 800,000 eu­ros in un­listed Greek com­pa­nies or trea­sury bills), or the in­vest­ment of a min­i­mum of 400,000 eu­ros in state bonds of at least three years’ du­ra­tion through a Greece-based bank, or the in­vest­ment of a min­i­mum of 400,000 eu­ros in a mu­tual fund set up in Greece or abroad to in­vest ex­clu­sively in shares and bonds trad­ing in Greece and with to­tal as­sets of least 3 mil­lion eu­ros.

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