LEGAL UPDATE: MINISTERIAL DECISION ON NEW PROVISIONS REGARDING RESIDENCE PERMITS FOR INTANGIBLE INVESTMENTS (INVESTORS IN SECURITIES AND BANK DEPOSITS)

golden visa
Posted on : 18 Nov 2019

The Ministers of Development and Investments, Foreign Affairs and Protection of Citizens issued a ministerial decision, published on 12/11/2019 regarding the supporting documents, procedure and other matters regarding the grant of visas and residence permits to investors in securities and bank deposits.

Pursuant to the said Ministerial Decision, the investor may submit an application for visa D- “investment in securities or bank deposit”, immediately after the completion of the investment and no later than 1 year after the commencement thereof.

Thereafter, the investor may, during the validity of such visa, apply for a 5-year residence permit, which is renewable, provided that the conditions for the investment are still met.

The decision also specifies the conditions and the number of persons entitled to apply for this residence permit for investors in securities and bank deposits, where the investment is effected by a legal entity. It also clarifies that persons that have entered and reside legally in Greece and who meet the requirements of the law, are not required to leave Greece in order to apply for this type of residence permit.

Finally, the decision specifies the conditions for the verification and maintenance of the investment and the preparation of the catalogue of entities which may be subject to investment.

 

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*This publication is intended only to provide general information and does not constitute personal advice. We do not accept or assume any responsibility towards readers of the present document for any loss resulting from acting on the basis of this publication.