There are many countries in Europe that offer new citizenship and residency by investment programs. Citizenship and residency by investment programs grant immediate citizenship to investors who apply and their families also. That means they qualify for a second passport, they can work, travel, and live anywhere within the EU. Each country offering an investment program has its own minimum investment amount and the wide variety of options is making it more attractive to foreign investors. For example, the Cyprus Investment Program has a minimum requirement of € 2 million.
Greek Golden Visa Program
The Golden Visa program was a novel idea that was created back in the 1980s that offered cash for passport programs that facilitated visa free travel and also offered tax advantages. But in recent years it has been developed and proven to be a revival weapon against economic crisis and recession. Countries like Greece, Cyprus and Portugal plunged into an economical disaster during the 8 year long recession, but now programs such as the Golden Visa program have boosted the economy in many industries like real estate.
EU countries like Greece, offer the Greece Golden Visa program. Upon applying and acquiring the Greek Golden Visa for a minimum investment of 250,000 euros, the holder or investor and their families, will be given a residence permit to stay in Greece or anywhere else within the EU for 5 years.
Requirements to Join
To acquire a Golden Visa, a non-EU citizen must invest at least 250,000 euros in the following:
- in a company based in Greece
- a real estate investment company aimed at investing only in Greece
- a business holdings company for purchasing shares solely in companies based in Greece
- acquisition of Greek government bonds from a local credit institution
- time deposit at Greek credit institutions for a 1 year fixed term with a fixed order for renewal
- shares in another investment company based in Greece or in other EU countries aimed at investing exclusively in real estate in Greece, under certain conditions
In basic terms, as long as the investment remains in the country or other companies exclusively aim at investing in Greece, then the investors or clients are eligible for a Golden Visa in Greece.
This particular visa program offers one of the lowest in cost residency permits in Europe and it takes almost 40 days to be issued. The investment must be made prior to the application for the permit and the investor must of course have a clear criminal record and medical insurance to cover their in Greece. The client is not forced to stay in Greece upon receiving their permit and they can renew it after 5 years if they have maintained their investment.
Such visa programs can be found in many countries in Europe. We in turn will advise our potential investors to follow the correct route and will manage residency and citizenship programs to assist in speedily and efficiently granting these permits to our clients whilst building towards a stronger economy.