One of the eligible forms of financial investment provided for under Article 99 of Law 5038/2023, which grants eligibility for the issuance of a Golden Visa residence permit, is a fixed-term bank deposit in the amount of five hundred thousand euros (EUR 500,000) with a Greek banking institution.
Requirements:
The investor must hold an active bank account in a Greek bank.
The fixed-term deposit must have a minimum duration of one (1) year with a standing order for renewal.
Joint beneficiaries of the fixed-term deposit may include the investor’s spouse or partner as well as relatives by blood or marriage up to the second degree.
It is noted that the investment must be made with foreign capital, which is transferred into Greece by the interested third-country national for the purposes of the investment. For both the grant and renewal of the residence permit, prior certification of the execution and retention of the investment is required by the competent authority, which is the Foreign Direct Investment Directorate of the Ministry of Development and Investments.
Investment via a Legal Entity:
Where the investment is carried out by a legal entity, residence permits may be granted to third-country nationals as follows:
In the case of an investment carried out by a Greek legal entity, a residence permit may be granted to a third-country national provided that holds one hundred percent (100%) of its partnership interests or shares.
In the case of an investment carried out by a foreign legal entity, residence permits may be granted to up to three (3) third-country nationals, depending on the amount of the investment, provided that each holds at least thirty-three percent (33%) of the share capital of the foreign legal entity.
Duration and Renewal of the residence permit – Rights and Obligations:
The residence permit is initially granted for a period of five (5) years and may be renewed for an equal period each time, provided that the retention of the specific investment is duly certified and all other statutory requirements are met.
The investor’s family members are entitled to be granted residence permit that expires simultaneously with that of the investor. Family members include: a) the spouse or civil partner, b) common unmarried children under the age of twenty-one (21), c) unmarried children of the investor or his/her spouse or partner who are under the age of 21 and for whom they have custody and d) the parents of the spouses or partners.
No right of access to any form of employment is granted.
There is no obligation to reside in Greece. Therefore, absence from the country does not affect the renewal of the residence permit.
The investor holding a residence permit under Article 99 of Law No. 5038/2023 may liquidate the investment in order to reinvest, within a period of two (2) months, in the same or another category of investment or in real estate. In such cases of modification of the investment, the already granted residence permit remains valid until the certification procedures for the new investment are completed and the new residence permit is issued.
The investor may carry out more than one investment, up to a maximum of three (3) distinct investments in total. In such cases, the minimum required total investment amount is determined based on the category with the highest applicable investment threshold.
If you are interested in obtaining a Golden Visa residence permit by investing in a fixed – term bank deposit, you can contact our office by telephone at +30 210 3319753 or by email at info@georgallis-law.com. Our law office and associates, with their expertise and experience in Golden Visa residence permit matters, will guide you step by step and assist you in completing the relevant procedure promptly, securely and effectively.
One of the eligible forms of financial investment provided for under Article 99 of Law 5038/2023, which grants eligibility for the issuance of a Golden Visa residence permit, is a fixed-term bank deposit in the amount of five hundred thousand euros (EUR 500,000) with a Greek banking institution.
Requirements:
Joint beneficiaries of the fixed-term deposit may include the investor’s spouse or partner as well as relatives by blood or marriage up to the second degree.
It is noted that the investment must be made with foreign capital, which is transferred into Greece by the interested third-country national for the purposes of the investment.
For both the grant and renewal of the residence permit, prior certification of the execution and retention of the investment is required by the competent authority, which is the Foreign Direct Investment Directorate of the Ministry of Development and Investments.
Investment via a Legal Entity:
Where the investment is carried out by a legal entity, residence permits may be granted to third-country nationals as follows:
Duration and Renewal of the residence permit – Rights and Obligations:
If you are interested in obtaining a Golden Visa residence permit by investing in a fixed – term bank deposit, you can contact our office by telephone at +30 210 3319753 or by email at info@georgallis-law.com. Our law office and associates, with their expertise and experience in Golden Visa residence permit matters, will guide you step by step and assist you in completing the relevant procedure promptly, securely and effectively.