A new category of Golden Visa has quite recently been introduced in Greece. Investors may now acquire a residence permit by investing at least 400.000 euros in bank products.
Looking at the Greek Banking System, it becomes obvious that it is able to sustain and support such investments. Greek bank system is not subject to any restriction relevant to capital flow (capital control). Full flexibility is offered to the investor, regarding his ability to hold accounts in more than one banking institutions and select among a variety of banking products with high performance ability. Last but not least, deposits up to 100.000 Euros per investor per bank account are guaranteed by the European Central Bank.
The advantages of the banking program are various and enough to convince an investor to consider this recent and modern option for golden visa acquisition. Greece offers an extremely low investment amount (400.000 euros) in comparison with the rest of European investment programs. Indicatively, Spain has set a minimum of 1 million Euro and UK of 2 million GBP. Another great investment motive is the zero operating costs since there is no involvement of notaries, real estate agents, transaction taxes etc. These low costs are combined with the non-existence of fiscal charge, meaning that a sole tax of 15% on the total profits is automatically withheld by the bank institution and therefore the engagement of accounting services in Greece is not necessary. The “way-out” is also extremely easy, since automatic disengagement of the investor is completed by just transferring the funds to another country.