Greek Authorities Will Broaden the Criteria for Residency by Investment Programme
The official Greece gazette announced a ministerial decision to enhance the criteria for a five-year residence permit granted to non-EU investors. To boost direct foreign cashflows, the new rules impose a minimum investment of 400,000 euros in Greek securities and firms. Equally, an investment of the same amount into property also qualifies for the residence permit.
In more detail, the investment of 400,000 euros in state bonds has to be held for at least three years in a Greece-based bank. Alternatively, an equal sum may be invested in a mutual fund established inside or outside of Greece, yet covering exclusively Greece-traded shares and bonds and having the total assets of 3 million euros onwards.
Non-EU nationals may also receive the permit should they invest 800,000 euros in stocks or corporate bonds in the Greek capital markets.
The broadened criteria will come into force along with the current model that stipulates a qualifying investment of 250,000 euros in the Greek real estate.
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