Greece broadens Golden visa program

Greece broadens Golden visa program

Greece is widening the options investors have that want to acquire the country's Golden Visa.

Up until now, non EU nationals can acquire a five year residency in Greece by spending at least 250,000 euros in real estate in the country.

According to an amendent that will be tabled to parliament soon, investors will be able to get hold of the residency by depositing 400,000 euros in a Greek bank or investing this amount in a Greek company. They will also qualify for the visa if they spend 400,00 euros in buying Greek stocks or government bonds.

Greece's visa for investment program has been popular with Chinese, Russian and Turkish investors since being launched in 2013.

The program, however, has come under fire in countries such as Cyprus and Malta, for being vulnerable to abuse and providing little scrutiny or transparency against corruption.