Credit card payment is to be allowed for property purchase under the renowned Greece Golden Visa program, as proposed by Greek authorities, according to IMIDAILY. The country’s new government is also planning to amend the migration policies of this residence by investment program, including increasing the minimum investment and introducing residency requirement.
Credit card payment has never been a legal way of conducting the investment activity required by Greece Golden Visa program, as it is sometimes abused as a way to avoid foreign exchange controls, which is still imposed in many countries. Nevertheless, such prohibition has not diminished the enthusiasm of potential immigrants. To simplify the application process, Greek government thus proposed to allow credit card payment for property purchase under this residence by investment program.
In addition, the government is also planning to amend the migration policies related to Greece Golden Visa program. In accordance with current rules, applicants can acquire a Greece golden visa through property purchase with a minimum amount of EUR 250,000 and are allowed to maintain it without being subject to any residency requirements. However, Greek authorities intend to double the amount of required investment and introduce residency requirement to the golden visa program, based on the information revealed by SOFOKLEOUSIN, a local newspaper.
The low investment threshold and absence of residency requirement have made the program a popular route to European residency. Earlier this year, Greece Golden Visa program was even ranked second among seven residence by investment programs by FORBES. As the program’s corresponding migration policies are likely to be amended, the immigration industry is ready to see an increase of enquiries about Greece Golden Visa, especially from people benefited from the newly introduced credit card payment.
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