The Golden Visa program is open to select countries who wish to drive in more investments from foreigners. Each golden visa is unique per country, from how much the investment must be to how long the residence permit will be. In Greece, the options are now broader to help more people get a chance to apply for it.

New Scheme

On Thursday, the Greek government released a new statement regarding the criteria for non-European Union residents who wish to have the visa. A joint ministerial decision says these applicants can now get a five-year residence permit if they will be able to invest a minimum of 400,000 euros in Greek securities and companies. This investment will help with the country’s foreign direct investment and help non-EU nationals get the visa faster.

The new policy also ensures that even a time deposit at a Greek bank will be enough to get the visa. If one has a real estate in the country, they can use it to get in the program.

For those who prefer state bonds or mutual funds, the joint decision allows it for the program. The state bonds must be around 400,000 euros and held in a Greece-based bank for three years. Mutual funds must be around 400,000 euros as well and they must be actively on shares and bonds in Greece. The total assets must be around 3 million euros.

Foreigners who have 800,000 euros in stock or corporate bonds in the Greek capital markets can also qualify. They only need to present a permit to prove their investment.

The new rules mirrors the requirements of other EU countries offering the visa program. It also adds to the current requirement of 250,000 euros in local real estate. This is the usual way foreigners can get into the program.

In September, Greece’s Golden Visa was cited to have a high approval rate as compared to other countries who offer it.

Greece Tips

Interested in traveling in Greece? You can check out Visit Greece to find out more about the country. We also have guides on where to stay in Corfu if you will be heading around that area.

If you will be working in the country, we have a guide on the salary and cost of living in Athens.

If you plan to retire in Greece, we have a full guide as well that you can check out.

The post Greece Golden Visa Scheme Broadens Options appeared first on Check in Price.

For investors who wish to go to a country and not have to wait a business or tourist visa, they invest on getting a Golden Visa. Countries offer this special visa for people who can invest thousands of dollars to the economy or purchase a property. While there are countries who see this visa as a good way to boost the economy, not everyone likes it. For instance, the government of the Balearic Islands in Spain have been commenting against it.

Why is there a comment against the Spanish Golden Visa?

On Monday, the Balearic Parliament formally requested to the Central Government to stop handing out Residency Permits or Golden Visas to non-EU investors who spend 500,000 euros for properties in the island. The visa is currently supported by the PP, Ciudadanos and PIs. They claim that these visas are for investors, workers and entrepreneurs.

According to the Socialist deputy Mercedes Garrido, the fact Venezuelan, Indian, Chinese and Russian millionaires can apply for this privilege is dangerous. Transparency International says that there is a possibility that the money of these millionaires came from dubious means.

One Mes spokesperson said that they do not see the measure as an effective one. They see that there is no clear proof that the country’s foreign investment went up thanks to these “Golden visa”. Podemos’ deputy Pablo Jimenez said that his party could not support a law that values people for their money.

Currently, around 116 foreigners have the “Express Visa” for the Balearic Islands. These foreigners got the visa after they bought properties worth half a million euros or more. The government has also yet to comment on the petition from the Balearic Government.

Visiting Spain

If you plan to visit Spain, there are a lot of guides out there to help you out. To get you started, check out our articles on the best places to stay in Valencia, Barcelona, A Coruna, Zaragoza, Granada, Seville and Madrid.

We also have a guide on the best hotels near El Prat Airport.

If traveling around, we have a guide on how to travel from Madrid Barajas Airport to Chamartin Station, Madrid Airport to Atocha Station, from Madrid to Toledo, Madrid to Valencia, Madrid to Barcelona, Barcelona to Valencia

For those who wish to work in the country, we have a guide on the minimum salary in Barcelona and in Madrid. We also have a cost of living guide in Madrid and Valencia. Our How to Retire in Spain guide is also available for those thinking of moving to the country.

For more information, visit Spain’s official tourism website.

The post Balearic Spanish Politicians are Against Spanish Golden Visa appeared first on Check in Price.