Effective as of April 2025, the recent abolishment of the non-UK domiciled tax regime, leaves UK -based High-Net-Worth Individuals on the look out for alternative tax residency options. Where does that leave us with?

Since 2015, Cyprus constitutes an ideal location for taxation of worldwide income for HNWIs who transfer their tax residence to the famous island. With the unique beneficial status of an EU member in combination with a Commonwealth state, as an ex British colony, Cyprus holds jurisdiction within the EU and is judiciary similar to the UK in terms of company legislation and assurance standards. Holding a large network of double-taxation treaties with more than 60 countries, U.K included, Cyprus boasts a sophisticated business destination. Furthermore, HNWI’s turn to Cyprus for its tax friendly incentives, available to companies and individuals for an overall lower tax burden compared to other EU jurisdictions, on top of highly competitive corporation tax rates at 15% (for MNEs and large domestic groups with annual consolidated revenues exceeding €750 million), standing as one of the lowest tax rates in Europe and certainly lower to the UK’s current corporation tax rate of 20%.

On top of being a tempting business destination for its tax – schemes, Cyprus has plenty of additional advantages to offer, such as wide availability of a highly qualified and expertly educated work force that is fluent in English, low operational costs, strategic location connecting it with three key continents, under a stable European economy. The individuals themselves can enjoy a low cost of living and doing business, combined with high quality of life, education and a national healthcare system at EU standards.

In order to benefit from the Cypriot Non-Dom regime, and to transfer one’s tax residence to the Republic of Cyprus,
individuals and companies must meet the following criteria for the same tax year (1/1-31/12): 

• Spend 60 days minimum in Cyprus (not necessarily consecutive)
• Spend no more than 183 days in any other country,
• Are not tax residents of any other country,
• Maintain a permanent home in Cyprus (owned or rented).
• Hold a business, are employed, or hold office in a company registered in Cyprus until minimum the end of that year.

Side note to the above:
• An individual can be considered as a Cyprus tax resident, after spending more than 183 days in Cyprus during a calendar year.
•  The Cyprus Tax Authorities may also issue a tax residency certificate, even during the tax year, to qualifying individuals upon request.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice.
For further information on the subject, please contact our law firm and one of our attorneys shall be glad to assist you.

Ismene Daskarolis
Corporate Executive
T.K. & Associates Law Firm

The main elements of the proposals include
but may not be limited to the following:

• Corporate Taxation:

The first, most striking amendment introduced, is the increase of the corporate income tax rate from the famous 12.5 to 15% for all legal entities. Such measure was suggested in an attempt to align Cyprus taxation with the other EU member states and the OECD’s global tax guidelines.

Furthermore, companies shall be able to follow through with procedures of tax losses incurred within a timeframe of 10 fiscal years instead of the current five-year period allowance. This amendment can turn out to be very beneficial for the legal entities, as the mechanism enables such losses to be offset against future taxable income or even profits of another company belonging to the same group of companies, provided that all legal entities involved are tax residents of the Republic of Cyprus.

In addition, the 1.5% insurance premium tax is expected to be abolished, while new anti-abuse rules are expected to apply for close-structured legal entities.

Profits derived from cryptocurrency trading shall also be taxed in the event that they are perceived as revenues.

On the other hand, the reform proposal does not suggest any amendments in departments of tonnage tax regime within the shipping domain, dividend exemptions, exemptions on sales of shares and/or other securities, notional interest deduction rules on corporate quite and provisions on the IP Box regime.

• Personal Income Tax:

The reform proposal suggests an increase in the tax-free threshold which would be at the rate of 20.500 euros per annum, as opposed to the current 19.500-euro rate. Moreover, the current scale of progressive taxation on personal income which can reach a maximum level of 35% and currently applies to sums exceeding the 60.000 euros would hereinafter apply to sums exceeding the 80.000 euros of personal profits. On the other hand, progressive taxation rates of 20%, 25% and 30% would apply to intermediary bands in the following manner:

Eligibility for personal allowances that would benefit specific categories of individuals such as:

1. Families with dependent minor children or non-emancipated children who are students, provided that certain conditions are fulfilled;
2. Physical persons with a housing loan on their primary residence or payments of rents;
3. Families who would proceed to green-household upgrades of their residences.

Further taxation benefits would concern the following cases:

1. Lower taxation rates for stock options, subject to certain conditions and anti-abuse rules;
2. Ex gratia payments, such as voluntary payments of an employer to their employees, would be taxable if exceeding a threshold amount, while the employer would benefit from a full deduction of such expense;

Considerable payments of employer to desired recruits, such as the “golden hellos” or otherwise known as “handshake amounts” would be subject to taxation to the employees, while for the employer such amounts would be considered as deductible expenses;

Cultural donations shall also be subject to deductions;

The 60-day tax residency rule of Cyprus would become more flexible in terms of including physical persons whose centre of business interests is located in the Republic of Cyprus, regardless of their physical presence on the territory;

No amendments are expected to be made to the 50% tax exemption on employment income for first employment in the Republic of Cyprus.

• Capital Gains Tax:

The current provisions of the legislations, which refers to the sale of real estate property in the Republic of Cyprus or the sale of companies which directly or indirectly own real estate properties in the country, shall remain in vigour but modernizations shall be applied.

• Special Defense Contribution (SDC):

The current legislation would be amended in the following manner:

1. Abolition of the SDC on rental income;
2. SDC rate on dividends would be reduced from the current 17% to 5% for tax residents and individuals domiciled in the Republic of Cyprus;
3. Lifting of corporate veil. Anti-abuse rules are expected to be introduced for disguised dividends, as tax authorities may reclassify shareholder income as direct business income;
4. The non-dom status for physical persons would remain for a timeframe of 17 fiscal years, while an extension of such time period might be offered with the imposition of an annual fee.

• Stamp Duty:

With the new legislation stamp duty is expected to be limited to agreements regarding immovable property, banking and insurance undertakings.

• Incentives regarding Green Transitions and Digital Transformations:

The newly proposed tax reform presents several measures for investments into the green transition and digital transformation sectors accordingly:

1. Significant tax deductions on expenses and/or capital allowances;
2. Important tax deductions for upskilling and retraining corporate staff;
3. Accelerated depreciation for eco-friendly and high-tech investments;
4. Deficits produced by the aforementioned measures would be extended without restrictions. Specifications are expected to be presented in the following months.

The new tax reform proposal is expected to be finalized by the end of 2025. Some of the new tax initiatives which shall be adopted may have a retroactive effect and apply from the beginning of the fiscal year 2025, while others are expected to enter in vigor from the beginning of the fiscal year 2026.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our law firm and one of our attorneys shall be glad to assist you.

Nika Kalifatidou
Advocate – Legal Consultant
Managing Partner
T.K. & Associates Law Firm

On December 13^th of 2023, the Commission approved the provisional agreement which was reach between the European Council and the European Parliament regarding the Commissions’ initial proposal for the establishment of an EU anti-money laundering and countering terrorism financing Authority, hereinafter referred to as AML/CFT in the form of a decentralized EU regulatory agency, hereinafter referred to as AMLA. The newly introduced authority shall coordinate and regulate the cooperation among Financial Intelligence Units (FIUs) and control the lawful and proper application of the EU rules. AMLA shall provide direct supervision over the national financial entities and assistance to FIUs for the enhancement of their analytical capacity in terms of illicit flows, prioritizing financial intelligence and cooperation among Member States, In terms of reporting and exchange of information, as well as joint operational analyses and the hosting of the central online system within the EU.

The AMLA legislative packaged proposed by the European Commission also contains a draft of a new Regulation on the functioning of the AML/CFT, as well as a new AML/CFT Directive, which are to this date under discussion. The procedure is expected to be finalized and AMLA to be formally established, once the agreement is officially adopted by the European Council and the European Parliament and its’ members. In addition, the domicile of the AMLA is still under discussions.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our law firm and one of our attorneys shall be glad to assist you.

Nika Kalifatidou

Advocate – Legal Consultant

Managing Partner

T.K. & Associates Law Firm

First and foremost, it is important to understand what ETIAS really is; it consists of an automated IT system designed to identify potential security and/or migratory risks deriving from Non-EU visa-exempt travelers to the Schengen area. The ETIAS travel authorisation constitutes an entry requirement for such travelers and is linked to their passport, with a validity for up to three (3) years or until the expiration date of the passport in use. ETIAS grants but does not guarantee multiple entries to thirty (30) European countries, for short-term stays which cannot exceed the timeframe of ninety (90) days within a period of a hundred and eighty (180) days. The entry is not guaranteed as upon approaching the border, officers shall review the traveler’s passport and other documents for the verification of entry conditions. In the event a request for entry is refused, the individual concern is entitled to appeal.

The countries which shall require the ETIAS travel authorisation are the EU Schengen Member States, Member States of the European Free Trade Association (EFTA), European Microstates with Open Borders and Future Schengen Member States.

The objectives of the introduction of this European Travel Authorisation are the following:

• Effective management of border controls;
• Increased security;
• Prevention of illegal immigration;
• Protection of public health;
• Prevention, detention and investigation of terrorist offences and/or other serious crimes;
• Improvement of the Schengen Information System.

While ETIAS aims to enhance security within the Schengen Area and prevent potential migratory threats, the new travel authorisation has been created in such way that it can operate all necessary controls while safeguarding all fundamental rights and data privacy in compliance with the GDPR regulations. The IT system is being developed by the European Union Agency for the Operational Management of Large-Scale IT Systems in the Area of Freedom, Security and Justice and it is expected to be launched in 2025.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our law firm and one of our attorneys shall be glad to assist you.

Nika Kalifatidou

Advocate – Legal Consultant

Managing Partner

T.K. & Associations Law Firm

In times when the term “personal data” has been widespread both in the media, as well as the corporate world, perhaps it might be a brilliant opportunity to remember what it actually means in legal terms, and why is it so important. Pursuant to the Charter of Fundamental Rights of the European Union in its’ article 8(1) and the Treaty on the Functioning of the European Union (TFEU) in its’ article 16(1), personal data protection of all physical persons, regardless of their nationality or residence, is a fundamental right. Therefore, the General Data Protection Regulation of the EU, Regulation (EU) 2016/679,   aims to protects such rights, securing justice, safety and the well-being of all individuals. While the protection of personal data is a fundamental right, it does not constitute an absolute right, as it must be balanced against other fundamental rights as well as its’ function within the society, in line with the principle of proportionality. Due to the acceleration in technological advances and globalization, the collection and sharing of such sensitive information has increased, requiring as a result stronger legal protection of this fundamental right, where individuals can have control over their personal data, by giving their “consent” whenever appropriate for such processing.

According to the definitions, as explicitly laid out in paragraph 11 of article 4 of Regulation (EU) 2016/679 of the European Parliament and of the Council, as published in the Official Journal of the European Union on April 27^th of 2016, consent is defined as “any freely given, specific, informed and unambiguous indication of the data subject’s wishes by which he or she, by a statement or by a clear affirmative action, signifies agreement to the processing of personal data relating to him or her”.  Moreover, for the consent to be considered to be valid, in accordance to article 4 and article 7, the following prerequisites must be fulfilled:

1. The consent must be given freely; the subject must be able to refuse or withdraw his/her consent without the risk of being at disadvantage;
2. The consent must be informed;

• The consent must be given for a specific purpose;

1. All reasons for processing must be clearly stated;
2. The consent must be explicit and given via a positive act;
3. The language used must be clear and plain and clearly visible;

• The subject must be able to withdraw his/her consent at any time and such fact must be explained.

Moreover, where consent is given for processing, it must only be processed for the purposes for which it was given and for no other purpose.  Therefore, it is so important for the consent to be informed prior to be given, as the subject must be able to have knowledge of the following information:

• The identity of the data processor and/or controller;
• The purposes of the data processing;
• The type of data to be processed;
• The choice of consent withdrawal;
• Where necessary, it must be stated that the processed data shall be used only for automated-based decision-making, including profiling of the subject;
• In case of international transfers of data, the possible risks of data transfers to third countries outside the EU must be stated.

Another interesting question is, what happens with data processing related to minors? Who must give the consent in order for it to be valid and lawful? The answer is explicitly stated in article 8 of the Regulation, where the conditions applicable to such consent are thoroughly explained.

In the event that the offer of information is directed to the child, the processing of personal data of the underage subject shall only be considered as lawful if the minor is at least 16 years old. Otherwise, consent must be given or authorized by the holder of parental responsibility of the minor in question. Certain EU Member States may allow by national legislations such direct consent by the minor to be given at a lower age than 16 years old, however it can never be below the age of 13 years old.

Furthermore, the data controller must make reasonable efforts to verify if the consent is indeed given or authorized by the holder of parental responsibility over the minor, with the use of technology.

In conclusion, consent is a very important element not only in data processing, but also in Contract Law and Law in general. Therefore, it is highly recommended to read thoroughly and evaluate legal documents, including consent forms, prior to signing anything or clicking on a digital button, and ask for legal advice, where necessary.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our law firm and one of our attorneys shall be glad to assist you.

Nika Kalifatidou

Advocate – Legal Consultant

Managing Partner

T.K. & Associations Law Firm

In light of the above, the newly agreed upon Regulative text aims to ensure transparency and disclosure requirements for crypto-assets, for their issuance and admission to the trading market. Furthermore, MiCA shall guarantee authorization and supervision policies for the service providers and issuers of Asset-Referenced Tokens (ART), Electronic Money Tokens (EMT), as well as other crypto-assets which do not belong to any of the two aforementioned categories of tokens. Professionals globally recognize it as the very first common licensing regime for crypto wallets and exchanges which shall be applicable across the EU.

The legal provisions for the Crypto-Asset Service Providers under new Regulation.

Crypto-asset services offered to EU customers are subject to the competent governmental authority of each Member State. An extensive list featured in MiCA has been inspired by the Directive 2014/65/EU, also referred to as MiFID II, and include the following:

1. Trading platform operations of crypto-assets;
2. Custody and administration services;
3. Crypto-assets exchange for funds/crypto-assets for other crypto-assets;
4. Third parties’ orders execution;
5. Transfer of crypto-assets from one address and/or account to another;
6. Advice on investment;
7. Order reception and/or transmission;
8. Placement services;
9. Management of portfolios.

Cross-border activity, also referred to as “passporting”, is one of the key elements facilitated by MiCA, due to the fact that an authorization issued by a Members States’ local regulator allows operations all over the EU. In other words, a CASP licensed in one EU country shall hereinafter be able to duly and lawfully execute all necessary transactions in any other Member State, without the need of seeking any further authorizations. Thus, it shall turn the EU into a favorable ground for Crypto-Asset Service Providers (CASPs) who can operate on a rather global level.  On the other hand, in terms of its’ application, MiCA solely concerns crypto-assets which are listed in the Regulation, meaning that any other financial instruments cover by MiFID II, such as deposits, structured deposits, funds under PSD II, insurance products, pension products, non-fungible tokens and decentralized finance (DeFI) are excluded.

A final question that has been brought before the European Securities and Markets Authority concerns the concept of “reverse solicitation”. While MiCA sheds light to this argument, the aforementioned authority is yet to provide the public with more specific guidelines. Thus far, according to the new Regulation, an authorization shall not be necessary in the following cases:

• In the event that a non-EU legal entity offers a crypto-asset service at the “own exclusive initiative” of a client based in the EU;
• In the event that such crypto-asset service exclusively concerns the service solicited by a specific client.

Regardless of the ex officio direct application of the text, due to its’ regulative nature, its’ interpretation and implementation shall nevertheless depend on each Member States’ regulator. MiCA shall be translated into the 24 official languages of the EU, while the voting procedure by the EU Parliaments’ plenary has been postponed to April of this year and is expected to enter into force 18 months later.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our law firm and one of our attorneys shall be glad to assist you.

Nika Kalifatidou
Advocate – Legal Consultant
Managing Partner
T.K. & Associates Law Firm

The fundamental provisions of EMIR are the following:

1. Obligation of reporting for derivatives contracts;
2. Obligation of reporting for all derivatives transactions to trade repositories (TRs);
3. Obligation of clearing for OTC derivatives and risk mitigation techniques for non-cleared OTC derivatives, including obligations of non-financial countrparties (NFC);
4. Introduction of organizational conduct of business and prudential standards for trade repositories (TRs) as well as central counterparts (CCPs).

Furthermore, for the detailed listing and implementation of the provisions of EMIR, the European Securities and Markets Authority (ESMA) was assigned to draft the Regulatory and Implementing Technical Standards. EMIR has empowered the EU Commission to adopt delegated and implementing acts in order to provide clarifications of compliance with the Regulation, for the competent authorities, as well as the market participants. In fact, following the reviews of 2015 and 2016, the Commission suggested the first amendments to the Regulation in May of 2917, which was approved and introduced as of June 17th of 2019 as Regulation (EU) 2019/834 or the Emir Refit. Following the aforementioned amendment, the Regulation was once again enhanced regarding the terms concerning third country CCPs and the supervision of EU CCPs, with the adoption of EMIR 2.2., officially called Regulation (EU) 2019/2099 which was published in the Official Journal of the EU on December 12th of 2019 and entered in vigor on January 1st of 2020.

Finally, on November 21st of 2022, the European Securities and Markets Authority (ESMA), who is the EU’s financial markets regulator and supervisor, proposed an amendments of the the regulatory technical standards (RTS) with regards to the Settlement discipline, for the simplification of the cash penalties process. According to the new proposal, the separate process of the CCP transactions for the collection and the distribution of cash penalties for settlement fails on cleared transactions, as it was previously established in Article 19 of the RTS, would be removed and replaced by Articles 16,17 and 18, which would delegate the entire process of collecting and distributing all penalties, both cleared and uncleared, to the CSDs.

The amendments’ draft has been sent for endorsement to the EU Commission in the form of a Commission Delegated Regulation, following which it shall be subject to the non-objection vote of the European Parliament and the Council.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our law firm  and one of our attorneys shall be glad to assist you.

Nika Kalifatidou
Advocate – Legal Consultant
Partner
T.K. & Partners

Following the amendments suggested by the Hellenic Government earlier in September and approved this week by the Ministry of Development and Investments, the minimum amount of investment has been doubled  in the most popular and expensive areas of the Hellenic Republic.

The amended Legislation which has been introduced to the Parliament states that for the Northern, Central and Southern Domains of Athens within Attica, the Municipality of Thessaloniki, as well as the islands of Mykonos and Santorini, the minimum investment required into an immovable property at the time of its’ acquisition shall be equivalent to at least five hundred thousand (500.000) Euros, which must must be duly paid in full prior to the submission of the application for the permanent residency of the investor. In addition, the Legislator explicitly specifies that such investment must only concern one immovable property. In the event of an investment into an undivided co-ownership property, the minimum investment amount of the co-ownership rate must be of at least five hundred thousand (500.000 )Euros per investor and such investment must concern one real estate property.

For the rest of the national territory, the minimum value of the real estate property at the time of its’ acquisition, as well as the total value of the contractual rent of the leases of hotel accommodations or tourist residences, is set at two hundred and fifty thousand (250,000) Euros.

The newly voted Legislation, as amended, also frames a transitional period for investors who have already begun the procedures under the previous provisions which required an investment of two hundred and fifty thousand (250.000) Euros for the entire Hellenic territory, by allowing them to complete their investment in the newly affected regions until December 31st of 2023, subject to a downpayment of 10% of the purchase price until April 30th of 2023.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our law firm and one of our attorneys shall be glad to assist you.

Nika Kalifatidou
Advocate – Legal Consultant
Managing Partner
T.K. & Associates

Due to this new “non-domicile” regime introduced by the Hellenic government , physical persons who transfer their tax residency to Greece shall receive significant tax deductions on the totality of their worldwide income generated outside the territory of the Hellenic Republic. Consequently, the applicable tax rate shall be equal to € 100,000 per year, subject to an investment of € 500,000 in the national real estate or business sector which must be finalized within a period of three years, from the date of submission of the application.

The maximum duration of affiliation in this program corresponds to a timeframe of 15 years. The physical person becomes a tax resident of Greece and is subject to taxes on foreign-sourced income by paying a flat tax rate of one hundred thousand euros (€ 100,000) per each fiscal year, without the obligation to justify the origins of that income. Members of the applicant’s family (parents, non-dependent adult children, etc.) can be included within the same application and shall consequently be subject to a flat tax imposition of € 20,000 per person, regardless of their income.

This innovation of the Tax System introduced by the new Law 4646/2019 aspires to an intensive growth of the national economy through the introduction of capital to the country.

According to recent economic studies, the Greek government’s proposal is starting to generate significant interest from British citizens who wish to keep their tax residency in an EU member state that offers favorable tax conditions. In fact, investments into the Greek economy through sectors such as the tourism industry, the maritime domaine and manufacturing can generate a return of approximately 5-10% per year, numbers that are hard to beat in other economies, under the present financial conditions.

Application requirements:

1. The applicant must not have been a tax resident of the Hellenic Republic during the past 7 out of the last 8 years.
2. The applicant must possess proof of the investment in the Hellenic Republic. The investment may be made by the applicant or by a member of their family or through a legal entity where the applicant holds the majority of the shares.
3. The income generated in Greece is taxed in accordance with the general provisions, that is, the income tax scale.
4. The tax is paid in a single installment and is not subject to any type of compensation with other tax obligations or credit balances.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our firm and one of our attorneys shall be glad to assist you.

Nika Kalifatidou
Advocate – Legal Consultant
Partner
T.K. & Partners

Over the past few years Greece has become an attractive pole for investors due to the countrys’ unique location, history, climate and natural resources. Situated at the crossroad of three continents, Greece is a major business center, particularly within the shipping and tourism sectors, while it is considered to be the number 1 holiday destination. Most investors choose the Hellenic Republic for their permanent residency for the entire family, in order to live, travel, study or just have a secondary home in the EU.

Greece has been a member of the European Union since 1981 and a member of the European Monetary Union since 2000. The country is known for its’ stability, effective and transparent legislative and regulatory framework, high levels of safety and security, excellent healthcare, as well as a dynamic educational system which is offered in various languages. As a matter of fact, most Hellenic citizens speak several foreign languages, due to the tourism which is the heartbeat of the countrys’ economy.

The approval of the Hellenikon Project, which is one of the largest investments in Europe, aspires to become the most impressive seaside park, with six massive skyscrapers that promise to change the Athenian skyline forever! The Greek Riviera will thus be the ultimate destination to reside in, as luxurious hotels, impressive museums, aquatic parks, malls and cafes will decorate the new Athenian landmark. The Project is expected to dispose of a luxurious residential area, natural parks, a world class new yachting marina, as well as Europes’ biggest casino!

The Law N. 425/2014 of the Immigration and Social Integration Code and other provisions, published in the Official Gazette of the Hellenic Republic on April 1st of 2014, introduced one of the fastest and most economical gateways to the acquisition of an EU Permanent Residency!

The investment options offered by the Law are the following:

• Purchase of a real estate property worth at least €250,000;
• A lease agreement with a hotel or tourist establishment for a time period of at least ten years;
• A capital investment of at least €400,000 into a company registered in the Hellenic Republic;
• An investment of €400,000 into Greek government bonds.
• An investment of €400,000 into bonds or shares of real estate investment companies registered in the Hellenic Republic;
• A deposit of at least €400,000 into a Greek bank;
• An investment of €800,000 into corporate or government bonds in Greece.

The eligibility criteria is as follows:
An investment of at least 250,000 € + VAT;
A Clear Criminal Record;
A Health Insurance valid within the EU, provided by a Hellenic insurance company;
The investor must be an adult (over 18 years old).

The benefits of the Greek Golden Visa Program are numerous:

• It is one of the fastest tracks to the acquisition of an EU permanent residence, as the process takes approximately 2 months
• It is one of the most economic Golden Visa Programmes in the EU!
• It is a Programme that includes the entire family, including the parents and in-laws within the same initial investment amount!
• Unlimited renewal, as long as the investment is maintained
• It gives access the Greek Citizenship after 7 years
• There is no obligation to reside permanently in Greece
• It gives the opportunity to own a business in Greece
• Visa free travel within the EU, under the same conditions as EU citizens
• Immediate access to all EU educational institutions, both public and private
• Excellent healthcare, under the same conditions as EU citizens. This includes both public and private establishments.
• A real investment opportunity! Generate income from day 1, by renting out your property!

With regards to the duration of a Greek residency permit, the Golden Visa is valid initially for a timeframe of five years and can be renewed indefinitely, as long as the investment is maintained. In addition, in the event that the investor decides to permanently reside in Greece, he/she may apply for the Greek citizenship, provided that several criteria is fulfilled, such as knowledge of the Greek language, history, politics and geography, as well as a seven year continuous residency in the country.

The present article is for informational purposes only and does not, under any circumstances, constitute legal advice. For further information on the subject, please contact our law firm and one of our attorneys shall be glad to assist you.

Nika Kalifatidou
Advocate – Legal Consultant
Partner
T.K & Partners