Pursuant to Article 99 of Law 5038/2023, third-country nationals are granted the opportunity to obtain a Golden Visa residence permit by undertaking high-value financial investments.
One of the eligible forms of investment that offers the possibility of obtaining a Golden Visa residence permit is the acquisition of shares with a minimum acquisition value of three hundred and fifty thousand euros (€350,000) in a mutual fund established either in Greece or in another country and whose exclusive purpose is to invest in shares, corporate bonds, or Greek government bonds, provided that such financial instruments are admitted to trading or are subject to trading on regulated markets or multilateral trading facilities operating in Greece.
Key Requirements:
The mutual fund's assets must amount to at least ten million euros (€10,000,000).
The mutual fund and its manager must be duly licensed by the competent capital market supervisory authority of the country in which they are established. For the countries outside the European Union, such authority is required to be a member of the International Organization of Securities Commissions and must have entered into a bilateral information exchange agreement with the Hellenic Capital Market Commission.
Mutual fund investments may be carried out either through intermediation by an investment services company or through a credit institution having its registered office or a branch in Greece. Currently, there are two investment services companies operating in Greece for mutual fund investments.
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.
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 mutual fund shares, 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.
Pursuant to Article 99 of Law 5038/2023, third-country nationals are granted the opportunity to obtain a Golden Visa residence permit by undertaking high-value financial investments.
One of the eligible forms of investment that offers the possibility of obtaining a Golden Visa residence permit is the acquisition of shares with a minimum acquisition value of three hundred and fifty thousand euros (€350,000) in a mutual fund established either in Greece or in another country and whose exclusive purpose is to invest in shares, corporate bonds, or Greek government bonds, provided that such financial instruments are admitted to trading or are subject to trading on regulated markets or multilateral trading facilities operating in Greece.
Key Requirements:
Mutual fund investments may be carried out either through intermediation by an investment services company or through a credit institution having its registered office or a branch in Greece. Currently, there are two investment services companies operating in Greece for mutual fund investments.
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.
Duration and Renewal of the residence permit – Rights and Obligations:
If you are interested in obtaining a Golden Visa residence permit by investing in mutual fund shares, 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.