First Golden Visa through investment in bank deposit: Varnavas Law Firm is leading the way

According to Article 16 paragraph G.1. of Law 4251/2014, in force as of July 1st of 2019 (according to Law 4605/2019) foreign non-EU citizens are eligible to acquire permanent residence permits in Greece through investment activity. That investment includes term-deposits, purchase of bonds or securities and other financial products.

Varnavas Law Firm – Pioneers on the Greek Golden Visa program

Since the beginning of the Greek Golden Visa, back in 2013, Varnavas Law Firm 1978 is a leading law firm on the residency-by-investment in real estate assets.

Being in the top of the Golden Visa field for almost 7 years, we are extremely proud to announce the submission of the 1st Golden Visa application through intangible investments in Greece, just a few days after the Covid-19 lockdown era.

Specifically, on the 3rd of June 2020, we have submitted the first application in front of the Ministry of Migration Policy. The investor, a Jordanian national, has chosen to proceed with a time deposit of 400,000 EUR in a Greek Bank.

Greek Golden Visa – Fast process and simplified procedure

Utilizing our acquaintances with our banking consultants, we managed in a short time to complete the procedures for a time deposit of 400,000 euros according to the provisions of the above law in one of the newest and rising banking institutions of the country.

Within a few days after the finalization of the investment, we were able to submit the client’s application for the Golden Visa and get the temporary Blue Certificate for our client leading the way for new kind of investment opportunities other than the real estate purchase which is the primary option for Golden Visa investors.

The full list of intangible investment options that lead to the Greek Golden Visa

a) Capital contribution for the purchase of shares in a share capital increase or bonds with the contribution of the capital of at least 400,000 euros when issuing a bond loan of undertakings with a registered office or establishment in Greece which are listed on the Greek stock exchange.

b) Capital contribution of 400,000 euro at least to a real estate investment company, which invests exclusively in Greece for the acquisition of shares in the increase of the share capital.

c) Capital contribution of at least EUR 400,000 to a venture capital company for the acquisition of shares or to a mutual venture capital for the acquisition of shares with a prerequisite to investing exclusively in companies with a registered office and/or establishment in Greece.

d) Purchase of Greek government bonds with an acquisition cost of at least 400,000 euros and a residual duration at the time of purchase at least three years, through a credit institution established in Greece.

e) Term-deposits of a minimum amount of EUR 400,000 at a Greek Credit Institution, of at least one-year duration, with a standing order for renewal.

f) Purchase of shares, corporate bonds and/or bonds of the Greek state which are admitted to trading or already traded on the Greek stock exchange. In this case, the acquisition cost must be at least EUR 800,000.

g) Purchase of shares with an acquisition value of at least EUR 400,000 in a mutual fund which is incorporated in Greece or another country and invests exclusively in securities (shares and corporate bonds or bonds of the Greek state) imported for Trading or negotiating already on the Greek stock market. The amount of the Fund's assets should be at least EUR 3 million.

h) Purchase of units or shares with a minimum purchase value of EUR 400,000 of an Alternative Investments Fund established in Greece or another country of the European Union, which intends to exclusively invest in immovable property in Greece