I'm a UK based investor interested in gaining permanent residency in Greece via term deposit investments. How exactly does this work? Can I do everything online for this on my own, like open an account with a Greek bank and make a time deposit?
According to Greek law, foreign non-EU citizens are eligible to acquire permanent residence permits in Greece through investment activity, which includes term deposits. Specifically, term deposits of a minimum amount of 400,000 euros at a Greek Credit Institution, of at least one-year duration, with a standing order for renewal.
As of Dec. 23, 2020, investors can complete their applications from abroad, including applying for a Greek tax number, opening of a Greek bank account, implementation οf their investment by signing a power of attorney at a Greek Consulate closest to their residence. Upon implementation of the investment, temporary residence permit/s are issued and the investor along with their family members can then travel to Greece for the biometrics process. The process can be implemented only via a power of attorney for all the steps mentioned.
The main condition is to deposit 400,000 euros in a Greek bank. The procedure cannot be done online. You need to sign a power of attorney and assign the case to a lawyer. You will get a 5-year residence via this process.
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