The Greek authorities plan to tighten control over investments under the Golden Visa program. The relevant decisions were signed by the Ministry of Development and the Ministry of Immigration and Asylum, according to Schengen.News.
The Greek Golden Visa program allows citizens of non-EU countries to obtain a residence permit by choosing one of the investment options.
After the residence permit is issued, the Office of Foreign Direct Investment under the Ministry of Development will monitor the investor more closely. If he does not meet the conditions of the program, the authorities may revoke his residence permit.
The main changes relate to the application procedure and interaction with the authorities.
- An investor can come to Greece on a Schengen visa or already have a valid resident status. If he is located outside the Hellenic Republic, he can authorize a legal representative by means of a power of attorney issued at the consulate or other relevant authority abroad, certified by an apostille.
- The investor submits an application for a residence permit to the Ministry of Immigration and Asylum along with other documents: papers confirming investments, information about other family members who also apply for a residence permit together with the main applicant.
- The formal side of the application is checked by the Office of Residence Permits, and then it sends the application electronically to the Office of Foreign Direct Investment of the Ministry of Development. Then the investment is checked for compliance with the criteria required by Law 5038/2023. After approval by the Ministry of Development, the investor submits a new application to the Office of Residence Permits. The application is submitted electronically through the digital services of the Ministry of Immigration. Additional supporting documents are attached to it.
Source: Schengen.News
