Deposits for Permanent Residence in Greece - An Advantageous Way of Immigration over Home Purchase
Greece's Deposit Migration Bill Clarifies Five-Year Permanent Residence on First Signature
The European Green Card is an indispensable configuration for many people in their identity planning. Having a green card not only allows you to live permanently in the European Union, but can also be paired with aSecond country passportaccomplishtaxation servicesThe configuration. When it comes to the easiest countries in Europe to deposit money to get a permanent residency, it's none other than the three countries of Greece, Portugal, and Spain. This article analyzes the six advantages of deposit immigration in Greece, and who should buy a home? Why a deposit might help you make more money?
According to the national regulations on the residence status of non-EU/EEA citizens and EU law, non-EU/EEA citizens may enter Greece and apply for permanent residence, the visa is issued by the Ministry of Immigration and Asylum for the legal residence of non-EU/EEA citizens in Greece, in accordance with the provisions of the European Union (Council Regulation (EC) 1030/02, where applicable). There are different categories of residence cards and different types of permits within each category. The right to employment depends on the type of visa issued, and the legal basis for the relevant program (entry and residence for portfolio investments or bank deposits) can be found in Article 16 of Law 4251/2014, as amended and supplemented by Article 42(c) of Law 4605/2019. Detailed information on the implementation of the program, such as the process and required documents, is determined by Joint Ministerial Decision No. 46440/19 (OJHR B-4155/12-11-2019). The point of difference between deposit immigration in Greece and Portugal and Spain is that the first visa for a residence card in Greece is five years, while Portugal and Spain require a renewal after the first year.
Advantages of Deposit Migration to Greece
1. Deposit immigration is the most efficient way to obtain permanent residence remotely
When it comes to the way of obtaining permanent residence in Greece, most people's first thought is through the purchase of a house. However, for every investor, it often takes a few months or more to turn the idea of purchasing a home into reality. There are a number of necessary steps such as property selection, choice of agent, closing of the house, tax considerations, etc. (Calculating the cost of acquiring a property in Greece). Compared to deposit immigration and law firms and banks, the link is clear and concise, the processing cycle is usually 3 months, and it is more secure to deposit your own money into your own EU account.
Buying a home for immigration needs to be considered
- Choice of Immigration Company
- Choice of real estate agent
- Housing Selection
- Assessment of the state of the house, e.g., condition of renovation, debt, whether or not there is a building violation
- Neighborhood and Surroundings Selection
- closing cycle
- Deed Tax Payment
- Post-renovation improvements
- Efficiency of realization
2. Euro exchange rate at historic lows
The long term cost of acquiring a 250,000 euro property is about 300,000 euros for this reason:
- attorney's fees
- Immigration brokerage fees
- property tax
- Buying appliances and furniture property, renovation
- The house itself depreciates in value (if not maintained)
Taking all these factors into account, the actual cost of buying a house in Greece is about 300,000 euros. Even if you do not take into account the depreciation of the property, other expenses are actual expenses and non-refundable. Then look at the deposit immigration, due to the euro reached nearly five years of historical lows. The exchange rate has an advantage, compared to before about to solve at least 10% exchange difference, in addition to the late euro if there is a high probability of returning to normal levels. Compared to buying a house, deposit immigration does not have any hard expenses and irreversible expenses.
3. Deposits have maximum flexibility and extensibility
Liquidating a 400,000 euro deposit can:
- Transfer 250,000 Euros to Greece for Home Purchase Immigration
- Transferring 350,000 Euros to Portugal for Home Purchase Immigration
- Donation for permanent residence in Malta
- Transfer 250,000 Euros to Cypress Permanent Residence
- Other European projects
4. Opportunity to acquire cost-effective assets in Europe
Time is money, it is often repeated but easily overlooked. The cost of time is one of the most important costs and sometimes it is a matter of success or failure of an investment. An investor can withdraw his deposit in a short period of time and have the opportunity to acquire cost-effective assets. In this way, the source of funds and investment planning are solved at the same time. The European and Chinese markets are different when one makes an investment thatThe first thing to consider is where the funding comes from and whether it is legally compliant. Analyzing cases of investment failure in Malta, Cyprus or Ireland, we find that many investors have problems such as unclear source of investment and inability to explain the source of funds, resulting in investment failure or application failure.With the liquidation of the Greek deposit, the investor has a clean extra €400,000 in cash abroadThe
5. Immigrants must be spared mistakes
But for home buying and traveling, beautiful weather is a completely different thing, we can remotely view the beautiful sky, but the house is only accurate if the person actually feels it in person, we have met some people who rush to buy a house, but then change their mind and consider selling their Greek property, or because of problems with domestic or other business funds, need to liquidate the Greek property, only to find out that their house in the eyes of the locals have no value. So the good thing about deposit immigration is that you can get a green card just the same, and you can take your time to pick a house after landing to avoid making mistakes.
6. Obtaining Permanent Residency in Greece
Comparison of Deposit Migration and Buying a House in Greece
Greece Deposit Immigration | |
attorney's fees | equal |
Bringing family members | three generations of the same family |
Hidden Costs of Real Estate | 0 dollars |
Login Exam | No need to log in |
Realized cost of assets | 0 |
time cost | <1 month |
Investment flexibility | High, transferable 1. 400,000 euros in cash 2. Maltese 3. Cypress 4. Turkey home purchase immigration 5.Portugal Home Purchase Immigration 6. Spain home purchase immigration Most European countries |
Our Advice - Permanent Residence with Deposit in Greece
Buying a property is a very intuitive thing to do, and most Chinese investors purchase property to get Greek status without actually living there. However, properties purchased to get status usually do not have quality investment attributes. Deposit immigration can directly allow investors to get the identity. If the investor interested in real estate, people overseas, convenient to come to Europe no harm, we advocate the purchase of real estate to see the property in person. But does not affect the same time the account is opened, now deposited in Europe. If there is a concept of preservation of assets investors, you will want the house has a value, buy in what location, will not mind 30-40 million first exist in the bank in the acquisition of real estate. This year we see good opportunities to get permanent residence with deposits, and there are no boundaries between property and deposits. Deposits would have no boundaries, and keeping more cash would also allow for more organizationSecond nationality in the Caribbeanor configurationUpgraded Commonwealth Citizenship Program. But when you buy a house the cash is more restricted and difficult to transfer back into a deposit. The middle is worse for cash and realization costs.
Extended Reading
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