The Greek government voted recently the following amendment to the article 16 of 4251/2014 law , coming in force at the beginning of July 2019. The above regulation aims to improve and supplement the current resident permit scheme for third-country nationals investing in Greece (the Golden Visa), taking into account the needs of the Greek economy, the interest shown by foreign investors and the relevant international practice. According to the above amendment, the Greek government extends the scope of the existing scheme by adding intangible investments to investment activities for which a permanent resident permit may be issued to third-country nationals. In particular, this provision adds the following eight alternative categories of intangible investments which contribute to the development and stimulation of the national economy: purchase of shares with a minimum 400,000 euros in a share capital increase or bonds issued on a bond loan for companies based or located in Greece, and listed on the Greek stock market; contribution with a minimum 400,000 euros to a share capital increase of a real estate investment company aiming to invest exclusively in Greece; contribution with a minimum 400,000 euros to a private equity fund toward the acquisition of shares, or to a venture fund to acquire shares provided these are invested exclusively in companies with headquarters and or established in Greece; with a minimum 400,000 euros purchase of Greek government bonds, with a minimum acquisition cost and a residual maturity of at least three years from the time of purchase through a credit institution based in Greece; with a minimum time deposit with a minimum 400,000 euros in a national credit institution for at least one year with a standing order for its renewal; with the purchase with minimum 800,000 euros of shares, corporate bonds traded or up for trade on regulated markets, or in multilateral trading facilities operating in Greece; the purchase of stakes with a minimum 400,000 euros in a mutual fund established in Greece, or elsewhere, which intends to invest exclusively in shares, corporate bonds and/or in Greek government bonds; with the purchase of stakes or shares with a minimum 400,000 euros in an alternative investment fund established in Greece, or in another EU country, and aims to invest exclusively in real estate in Greece. Joint ministerial decisions of ministers of migration policy, economy and development and, where appropriate, foreign affairs, deal in particular with issues of application of these provisions. The above options have nothing to do with property acquisition with 250,000 euros minimum or investment activity of 250,000 euros and are coming as additional and alternative ways for foreign investors to participate to Greek Golden Visa program.
