Greece broadens criteria for Golden Visa scheme

A joint ministerial decision broadening of the criteria for non-European Union citizens to be granted a five-year residence permit, or Golden Visa, was published in the government gazette on Thursday.

The new law foresees permits being issued for third-country nationals (and their families) who invest a minimum of 400,000 euros in Greek securities and companies, with the aim of increasing foreign direct investment.

Therefore a time deposit at a Greek bank of at least that amount for at least 12 months with a fixed order for renewal will suffice for a Golden Visa. Similarly, an investment of the same amount in a real estate investment company will also do.

The new criteria include 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...