CBI – S'17 | Special Greek Report by BLS Media

issue 10

The Guide to Residency Permits In Greece

‫دليل تصاريح اإلقامة في اليونان‬ SPECIAL GREEK REP ORT

www.citizenshipinvestment.org

Citizenship by Investment Greek Special Report 2017

Interview with Enterprise Greece

Interview

1. Please can you tell us more about Enterprise Greece and its aims? Enterprise Greece (EG) is Greece’s official investment and trade promotion agency operating under the supervision of the Greek Ministry of Economy & Development. It is designed to assist foreign investors and enterprises to do business with Greece, to provide key information about Greece as an investment destination and to promote a range of investment sectors in which Greece excels. In addition, EG promotes Greek products and services to the global marketplace. Enterprise Greece helps Greek businesses reach new markets, find new business partners, and become more competitive and attractive.

2. Greece is an attractive destination for foreign investors. Can you please explain what Greece offers potential investors? The Greek Golden Visa Programme is probably the most competitive Residence Permit program in Europe today. It offers a permanent residence permit to non European investors and their families (spouse, children, the spouses’ parents), with the purchase of real estate assets that add up to 250,000 Euros. It also gives this right to real estate investors who have signed a minimum ten-year

timeshare agreement (lease) for the use of tourist accommodation. Additionally, the Greek Golden Visa Program offers to non European citizens free movement within all Schengen area European countries, while it can also lead to long-term residence and thus citizenship status, under conditions. Moreover, the owner can rent the asset and receive a rental yield, without being subject to a minimum stay requirement. “Golden Visa” recipients, have access to the Greek education system and healthcare system, if they are insured accordingly, and enjoy the benefits of a country offering real estate assets at very competitive prices compared to other European destinations, with high rental yields for quality properties in prime locations.

3. Can you tell us more about the sectors in which Greece holds a competitive advantage? Greece’s implementation of a reform agenda is opening up new investment opportunities with high rewards for both first movers and established players. According to recent reports by international organisations, a sustained growth is anticipated for the Greek economy during the coming years, expected to be driven by its high-value sectors like tourism, ICT, energy, environmental sciences, food, beverage and agriculture, logistics, and life sciences. Greece’s exceptional human capital, advanced infrastructure, geostrategic position, and potential for economic expansion, are set to attract international investor interest, as Greece’s

newly designed investment framework supports the creation of new businesses, new synergies, and new partnerships.

4. Can you please explain the process of applying for a Golden Visa? The application process for the Golden Visa is straight forward. Initially the investor must submit an application for an entry visa to the Greek consulate authority in their country of origin. Upon receipt of the entry visa they are able to travel to Greece, conduct their market search, acquire the property and complete the residence permit application process (application, copy of the contract, passport copy, fee, photos and other documentation) at the Aliens and Immigration Dept. of the Decentralised Authority, where the property is located. The exact steps and requirements for the completion of the procedure are outlined in detail in 5 different languages, including Arabic, in our special guides, available through our website within the “Greece My Residence” section. Moreover, interested investors can always address their enquiries to our e-mail , and we will reply back with all necessary information.

Angela Michalopoulou, PhD Head of Investment Promotion Unit, Enterprise Greece

‫‪Citizenship by Investment Greek Special Report 2017‬‬

‫‪Interview‬‬

‫مقابلة مع‬ ‫مؤسسة اليونان‬

‫‪.1‬‬

‫من فضلك هل لك أن تخبرنا أكثر عن مؤسسة اليونان‬ ‫وأهدافها؟‬ ‫مؤسسة اليونان (‪ )EG‬هي وكالة لتشجيع االستثمار‬ ‫والتجارة اليونانية التي تعمل حتت إشراف وزارة االقتصاد‬ ‫والتنمية اليونانية‪ .‬وهي مصممة ملساعدة املستثمرين‬ ‫والشركات األجنبية في القيام بأعمال جتارية مع اليونان‪،‬‬ ‫ولتوفير املعلومات األساسية حول اليونان كوجهة استثمارية‬ ‫والترويج ملجموعة من القطاعات االستثمارية التي تتفوق‬ ‫فيها اليونان‪ .‬وباإلضافة إلى ذلك‪ EG ،‬تروج املنتجات‬ ‫واخلدمات اليونانية في السوق العاملية‪ .‬مؤسسة اليونان‬ ‫تساعد الشركات اليونانية على الوصول إلى أسواق جديدة‪،‬‬ ‫والعثور على شركاء جدد‪ ،‬و على أن تصبح أكثر تنافسية‬ ‫وجاذبية‪.‬‬

‫‪.2‬‬

‫اليونان هي وجهة جذابة للمستثمرين األجانب‪ .‬هل‬ ‫ميكنك توضيح ما تقدمه اليونان للمستثمرين احملتملني؟‬ ‫برنامج التأشيرة اليونانية الذهبية رمبا يكون برنامج تصريح‬ ‫اإلقامة األكثر تنافسية في أوروبا اليوم‪ .‬إنه يوفر تصريح‬ ‫لإلقامة الدائمة للمستثمرين الغير األوروبيني وعائالتهم‬ ‫(الزوجة واألطفال واألجداد)‪ ،‬بعد شراء أصول العقارية‬ ‫تصل إلى ‪ 250،000‬يورو‪ .‬كما انه يعطي هذا احلق‬ ‫للمستثمرين العقاريني الذين وقعوا ‪ 10‬سنوات كحد‬ ‫أدنى لإليجار ألغراض سياحية‪ .‬باإلضافة إلى ذلك‪ ،‬برنامج‬ ‫التأشيرة الذهبية اليونانية يقدم للمواطنني غير األوروبيني‬ ‫حرية احلركة في جميع الدول األوروبية مبنطقة شنغن‪،‬‬

‫‪5‬‬

‫و ميكن أن يؤدي أيض ًا إلى تصريح إقامة طويلة األجل‪،‬‬ ‫وبالتالي إكتساب اجلنسية‪ .‬وعالوة على ذلك‪ ،‬ميكن‬ ‫لسحب التأشيرة استئجار األصول واحلصول على عائد‬ ‫اإليجار‪ ،‬بدون أن يكون خاضعا للحد األدنى لشروط البقاء‪.‬‬ ‫متلقي التأشيرة الذهبية ‪ ،‬ميكن أن يستفيدوا من نظام‬ ‫التعليم والرعاية الصحية اليوناني‪ ،‬إذا كانوا مؤمنني وفقا‬ ‫لذلك‪ ،‬والتمتع بعدة فوائد في بلد يقدم أصول العقارية‬ ‫بأسعار تنافسية جدا مقارنة مع وجهات أوروبية أخرى‪،‬‬ ‫مع عائدات تأجير مرتفعة للعقارات ذات اجلودة العالية في‬ ‫املواقع الرئيسية‪.‬‬

‫‪.3‬‬

‫هل لك أن تخبرينا عن القطاعات التي لليونان فيها‬ ‫ميزة تنافسية؟‬ ‫تنفيذ اليونان جلدول أعمال اإلصالح يفتح فرصا استثمارية‬ ‫جديدة مع مكافآت عالية لكل من املستثمرين القدماء‬ ‫و اجلدد‪ .‬ووفقا ألحدث التقارير الصادرة عن املنظمات‬ ‫الدولية‪ ،‬فمن املتوقع نسبة منو متواصل لالقتصاد اليوناني‬ ‫خالل السنوات املقبلة‪ ،‬من املتوقع أن تكون مدفوعة‬ ‫من قبل القطاعات ذات القيمة العالية في مثل السياحة‪،‬‬ ‫وتكنولوجيا املعلومات واالتصاالت‪ ،‬والطاقة‪ ،‬والعلوم‬ ‫البيئية‪ ،‬املواد الغذائية واملشروبات والزراعة النقل واإلمداد‪،‬‬ ‫والعلوم احلياتية‪ .‬إمكانات اليونان البشرية االستثنائية‬ ‫والبنية التحتية املتطورة‪ ،‬املوقف اجليواستراتيجي و إمكانية‬ ‫النمو االقتصادي‪ ،‬يتوقع أن تستقطب اهتمام املستثمرين‬ ‫الدوليني‪ ،‬بعد دعم اإلطار االستثماري املصمم حديثا في‬ ‫إنشاء شركات جديدة وشراكات جديدة‪.‬‬

‫‪.4‬‬

‫أرجو توضيح عملية التقدم للحصول على التأشيرة‬ ‫الذهبية؟‬ ‫عملية تقدمي الطلب للتأشيرة الذهبية جيد واضحة‪ .‬في‬ ‫البداية يجب على املستثمر أن يتقدم بطلب للحصول على‬ ‫تأشيرة دخول إلى القنصلية اليونانية في بلدهم األصلي‪.‬‬ ‫عند استالم تأشيرة دخول سيكونوا قادرين على السفر إلى‬ ‫اليونان‪ ،‬وإجراء بحث في السوق أو اقتناء امللكية واستكمال‬ ‫عملية طلب اإلقامة (طلب‪ ،‬نسخة من العقد‪،‬نسخة من‬ ‫جواز السفر‪ ،‬ورسوم صور وغيرها من الوثائق) في قسم‬ ‫الهجرة‪ ،‬حيث يقع فيها العقار‪ .‬اخلطوات واملتطلبات إلمتام‬ ‫اإلجراء مفصلة في ‪ 5‬لغات مختلفة‪ ،‬مبا في ذلك العربية‪،‬‬ ‫في الدليل اخلاص بنا‪ ،‬وهي متاحة من خالل موقعنا على‬ ‫شبكة اإلنترنت ضمن قسم «‪.»Greece My Residence‬‬ ‫وعالوة على ذلك‪ ،‬ميكن للمستثمرين املهتمني توجيه دائما‬ ‫استفساراتهم إلى بريدنا اإللكتروني‪ ،‬فنقوم بتقدمي كل‬ ‫املعلومات الضرورية‪.‬‬

‫‪Angela Michalopoulou, PhD‬‬ ‫تشجيع‬ ‫رئيسة وحدة‬ ‫االستثمار‪Head of،‬‬ ‫‪Investment‬‬ ‫‪Promotion‬‬ ‫‪Unit,‬‬ ‫‪Enterprise Greece‬‬

Imagine Crete... Houses for sale

Luxury Villas for Sale in Crete Luxurious Private Villa outside a picturesque fishing village with extensive views of

the Mediterranean Sea and mountains. The villa features a unique combination of natural stone and modern materials Price excluding expenses € 480.000.

KRETA EIENDOM offers variuos investments: • • • •

Luxury villas with exquisite design. Holiday complexes with great rental potential. Hotels in attractive touristic areas. Plots of land for construction.

Invest in Crete, get a Residence Permit

Greece is offering residence permit to anyone who buys a property over €250,000. The residency permit is granted for five years and it is renewable for as long as the property remains in the possession of the owner. The residence permit may be extended to the members of the family of the owner.

Contact us for obligation-free consultation Phone: +30 28310 21430 Mobile: +30 69733 49000 post@kretaeiendom.com www.kretaeiendom.com

Visiting address: Arkadiou 1 74100 Rethymno Crete - Greece

a Better Quality of Life

Properties in Projects for Sale in Crete Triton Sea View project consists of 19 modern houses, situated in a location with spectacular views to the sea, mountains and green fields of Northern Crete. It is only 500 meters away from the longest sandy beach on the island. Each property has a sea view, its own private garden and roof terrace. The delightful common areas of with their breath-taking views of the sea and mountains, offer two inviting swimming pools with children’s section, and a seating area with BBQ for a truly relaxing environment. Triton Sea View is suitable for all year round living and a good investment for holiday rental . Price starting from €250.000 including all expenses for a property with 3 bedrooms and 2 bathrooms.

Why Choose Crete?

It is easy to fall in love with Crete, the largest and most southernly island in Greece. It has it has so much to offer... • Hospitable people • Fantastic climate and nature • Political stability • Popular holiday destination • Attractive price level • Almost no criminality • Rich history • World famous archaeological sites • Young and developing market

Citizenship by Investment Greek Special Report 2017

Interview with Varnavas Law Firm

Interview

Alexander Varnavas, Parner & Dionysia Kokkinou, Notary Public at Varnavas LF

Varnavas Law Firm 1978 has recently been awarded the “Investment Immigration Law Firm of the Year 2017 for Greece”. Could you tell us more about that? AV: We are a multi-awarded Law firm with 40 years of experience and expertise in Real Estate & Immigration Law. Since our Law Firm was engaged in the development and the implementation of the Greek Golden Visa Law (4146/2013) as the Legal Counsel of the Greek Government, we have established a Special Desk dedicated to the Residency-by-Investment services. Our Firm has been recently recognised by the London-based “INTL CORP Magazine Awards 2017” as a result of our excellent customer testimonials and the referrals of our satisfied international clientele.

Is your Law Firm an active part of the International Legal Community? DK: The above Special Desk regarding the Golden Visa Law is run personally by the two of us. We are proud to be the first two practitioners from Greece who have successfully passed the due diligence process and have been admitted as members of the Investment Migration Council (IMC), the Geneva-based worldwide association of professionals dealing with residency and

“Both conveyancing and immigration law services in Greece require not only qualified but also specialized legal support” citizenship by investment.

The so-called Greek Golden Visa requires a minimum investment of 250,000 Euros in real estate assets, which is the lowest investment level among all “Schengen-free” Residency solutions in Europe. Are there any traps or hidden downsides for the potential investors? DK: Not only is there no trap or secret fine print for the investors, but instead the Greek Program is by far the most flexible and privileged Residency-by-Investment scheme in Europe, without further demands and obligations. The investment may consist of more than one property, residential or commercial, and there are no restrictions regarding the location, age or the lease of the property.

Our firm acts as an independent service provider, but we also provide with local support other international firms or immigration agencies who offer the Greek Residency-by-Investment program to their clients. We are also an active member of the International Bar Association (IBA), the Urban Land Institute (ULI), as well as the exclusive member of REAL Network (Real Estate Attorneys at Law) for Greece.

There is no minimum stay requirement for applicants to retain or renew their residence permits. The holders of the Golden Visa may apply for Greek Citizenship and a European Passport after seven (7) years of lawful residency.

From which countries do the majority of your clients originate? Why should the High Net Worth families trust you for their legal matters?

What makes your services stand out from other competitors? AV: We know our job very well and do not take it lightly. Both conveyancing and immigration law services in Greece require not only qualified but also specialized legal support. Moreover, we have successfully developed One-Stop-Shop solutions, which allow the entire process to be concluded without the investor’s long-term presence in Greece. Last but not least, we are one of the very few firms who are licensed by the Greek Government to use the State Seal of the Hellenic Republic, through our in-house Notary Public, so we are duly authorized and certified to conclude official property contracts without any third party contribution.

AV: Our client base includes High Net Worth Individuals from China, Russia, UAE, Ukraine, Lebanon, Iraq, Egypt and Azerbaijan. Our team consists of attorneys, notaries and financial advisors, who work closely with our clients in order to provide a highly personal and bespoke service focused on their cross border needs. We ensure that any personal matters are treated with professionalism, responsibility and confidentiality, something that the HNWI world expects and demands.

Citizenship by Investment Greek Special Report 2017

Feature

How to apply for a Greek residency permit

The process for the issuing of a residence permit for real estate property owners.

Step 1: Issuing an entry Visa for Greek Territory The interested party must submit an application for an entry visa to the Greek consulate authority in their country of origin. Step 2: Collecting the documentation for the issuing of the residence permit Applicants for a residence permit for real estate owners, valued at €250.000, must provide the following documents: Two copies of the application document; Two recent colour photos; Certified copy of a valid passport or travel documents recognised by Greece and with the relevant valid entry visa, where required;

1. Residence permits for third country citizens who own and posses, either wholly or jointly, property in Greece: A contract of purchase stating that “the contract of sell and purchase of the property is not subject to conditions or exemptions, the total price amounts to ..... which has been paid in full with a crossed bank cheque or bank transaction” and a proof of transfer of the contract by the competent Land Registry. Certification by an insurance agency for the cost of hospitalisation and medical care. To certify that this condition is fulfilled, the following are accepted: - Insurance contracts which have been signed outside Greece, provided that they explicitly mention that they cover the interested party for the duration of their stay in Greece. - Insurance contracts which have been signed in Greece.

A fee paid and obtained through the “e-paravolo” platform according to provisions of Law 4251/2014 article 132, which amounts to €500 for residence permits of up to a five year duration.

2. Residence permits for third country citizens who own property in Greece through a legal entity, where the applicant owns all shares:

Depending on the specific case, the following documentation may need to be submitted in addition to the above:

- A contract of purchase stating that “the contract of sell and purchase of the property is not subject to conditions or exemptions, the total price amounts to ..... which has been paid in full with a crossed bank cheque or by deposit of a bank transfer to the beneficiary’s account held with a bank in Greece or a credit institution under the supervision of the Bank of Greece, the specific details of which shall be solemnly declared by the parties before the notary

Citizenship by Investment Greek Special Report 2017

who draws up the contract and written in it” and a proof of transcription of the contract by the competent Land Registry.

Certification by an insurance agency for the cost of hospitalization and medical care.

- Certification by an insurance agency for the cost of hospitalisation and medical care.

4. Residence permits for third country citizens who have purchased real estate property in Greece before Law 4146/2013 came into effect:

To certify that this condition is fulfilled, the following are accepted:

If the payment submitted before Law 4146/2013 came into effect is smaller than two hundred and fifty thousand euro (250,000) but the current objective (assessed) value of the real estate property exceeds or is equal to this amount, a certification by a notary must be included in the documents that are submitted, stating:

- Insurance contracts which have been signed outside Greece, provided that they explicitly mention that they cover the interested party for the duration of their stay in Greece. - Insurance contracts which have been signed in Greece. 3. Residence permits for third country citizens who have a lease – for a minimum of 10 years – for hotel accommodations or furnished tourist residences in integrated tourist resorts : Notarised copy of the lease for the hotel accommodations or furnished tourist residences in integrated tourist resorts, which demonstrates a single payment of €250.000 and includes a mention of the granting of the relevant operation licence by GNTO (Greek National Tourism Organisation). Proof of title transfer from the land registry where the relevant lease contract has been transferred.

“From the verification of the contract with number .for the purchase of real estate property, it can be concluded that the full payment of the cost of the real estate property has been completed, it no longer has any conditions, exemptions or deadlines, and the objective (assessed) value of the real estate property as it stands today is equivalent to the amount of ...”. In this case it is also necessary to submit the contract of purchase for the real estate property or properties, the value of which is at minimum €250,000, and a proof of title transfer from the land registry where the relevant contract has been transferred. 5. Residence permits for third country citizens who purchase plots of land or acreage and erect a building. The following additional documents must be submitted: I. Contract for the purchase of the plot of land or acreage.

Citizenship by Investment Greek Special Report 2017

II. Contract with the construction company for the erection/restoration of the residence, which has been submitted to the tax office according to the law III. Building permit in the name of the applicant IV. Invoices by the contractors and the corresponding proofs of payment 6. Residence permits for third country citizens who have a timesharing lease of at least ten year duration, for hotel accommodations or tourist furnished accommodations in integrated tourist resorts. The following additional documents must be submitted: I. contract for the timeshare of at least ten years duration, which states the exact amount to be paid every year. II. Proof of title transfer from the competent land registry III. certification by the Greek National Tourism Organisation that they have been informed of the establishment of this timeshare lease. 7. Residence permits for family members of the third country citizen: Certification by an insurance agency for the cost of hospitalisation and medical care. To certify that this condition is fulfilled, the following are accepted: - Insurance contracts which have been signed outside Greece, provided that they explicitly mention that they cover the interested party for the duration of their stay in Greece. - Insurance contracts which have been signed in Greece. Recent family status certificate from foreign authorities which certifies the family relationship. Step 3: Submitting the documents Applications for the residence permits must be submitted to the one-stop

service of the Alien and Immigration Department at the Decentralised Authority where the property of the interested party is located. For more information on your case, please contact the one-stop shop of the Decentralised Authority where the property is located. Step 4: Procedures until the final issuing of the permit

Upon arrival

A third country citizen who intends –and has the necessary supporting documentation– to own real estate property or to lease hotel accommodations or furnished tourist residences and has entered the country legally, is required to complete the required actions to apply for the residence permit before the expiry of the entry visa. In this case, the prospective applicant is able to undertake legal acts and transactions with the competent authorities, using their entry visa.

Application process

The submission of the application for the issuance of the residence permit, the submission of additional documentation, the receipt of the residence permit or of a rejection, or any additional documentation from the relevant file, can be done either in person by the third country citizen, or through a proxy. Third country citizens who have never entered Greece are not allowed to submit an application for a residence permit via a proxy. The applicant is allowed to enter the country, to assign their representation to a lawyer, either with a proof of authenticity of their signature issued by any public authority or with a notarized power of attorney, and then depart from the country and not be present during the submission of the application for a residence permit and/or the granting of the relevant permit. Consequently, it is possible to submit the application via proxy, under the condition that the person submitting the application also submits either an original passport of the third country citizen or a copy or a true copy of the passport certified by a

Citizenship by Investment Greek Special Report 2017

lawyer. It is possible, in the same way, to receive the certification that the application has been submitted, as well as the residence permit.

duration as the applicant, but this permit does not include access to employment.

The relevant provision will be valid until the establishment of an independent document which will replace the unified type of residence permit. For the submission of the independent document, the presence of the third country citizen will be necessary, because of the requirement to obtain biometric data. The documentation outlined in the previous steps should be attached and submitted with the application.

The children of the applicant, who have been originally admitted to the country under the terms and requirements of residence permit for property owners, are issued with a residence permit for family reunification until the age of 21. After that, it is possible to acquire a renewal as an independent residence permit until they reach the age of 24 and then it is possible to renew it further according to pertinent immigration legislation.

Ă&#x153;

Documentation check

Documents and certificates for the renewal of residence permits.

The authorities receiving the application will issue a confirmation that the application has been submitted, provided that all the necessary documentation has been submitted with the application. This confirmation is valid for one year and it constitutes an evidencing document until the residence permit is issued.

The renewal of the residence permit requires different documents, including: In all cases:

Ă&#x153;

- A true copy of a valid passport or travel documents recognised by Greece.

Procedure for residence permits for family members

- A filled-in application - Two recent colour photos

According the information above, third country citizens can be accompanied by their family members, who will be granted the appropriate entry Visa.

- A certified copy of the previous residence permit, only in cases where the permit is not attached to the passport that is submitted

Members are:

Certification by an insurance agency for the cost of hospitalisation and medical care. To certify that this condition is fulfilled, the following are accepted:

a. Spouses. b. The direct descendants of the spouses, who are under the age of 21. c. The direct relatives of the spouses in the ascending line. Family members have the option of entering the country at a later date from the applicant, from whom they draw their residence rights.

These family members are issued with a residence permit of the same

Citizenship by Investment Greek Special Report 2017

‫كيفية التقدم بطلب‬ ‫للحصول على تصريح‬ ‫اإلقامة اليوناني‬

Feature

GREECE

Golden Visa Program ATHENS NORTH

RE/ MAXEpendisi Akiniton 56,Pentelis Ave, Chalandri, 152 34 Tel:+30-210 68.96.940 Fax:+30-210 68.97.271 Email:remax_hi@otenet.gr

ATHENS SOUTH

RE/ MAX Ependisi Akiniton 2 15, Aggelou Metaxa str, Glyfada,166 75 Tel:+30-210 89.42.444 Fax:+30-210 89.45.064 Email:remax_hi@otenet.gr

www.remax-ependisiakiniton.gr

Do you want to get a VI SA for EU ? Call usand leave everything else to us. By buying a propert y in Greece you offer t o your family VI SA ( t hree generat ions), security , freet ravel t o European Union , access to European Educat ion , invest ment ,opportunit ies and healthcare. I f you own a property in Greece for more t han 5 years and you meet specific requirement s and follow specific procedures, there is t he possibility t o get t he Greek Cit izenship and Greek passport .

We have an experienced law firm in VI SA issuance (more than 100 VI SAS) which handle all the procedures from the deed checking of the property till the VISA procedures for all your family members. RE/ MAX Ependisi Akiniton has an experienced accounting firm that is needed for your Tax declaration statement when you own a property in Greece.

Re/max is t he biggest real estat e agency in Greece with the biggest portfolio of propert ies. You can find propert ies in our agency that you cannot find anywhere else in themarket . We offer apart ment s for sale with tenant inside, retail stores already rented , VI LLAâ&#x20AC;&#x2122;sclose to the sea or in t heexpensive areas in At hens, propert ies in Santorini island, Apart ment s in t hecent er of Athens for investment and for rent, plots of land. We undertake the property management of your property (renting,housekeeping, bill payments). Prices of properties are expected to raise, so it is a good opportuinity to invest in our country.

Mr. Yiannis Ziavras is the General Manager of RE/ MAXEpendisi Akiniton Email: yziavras@otenet.gr mobile: +30 697 980 8319

Citizenship by Investment Greek Special Report 2017

Feature

The benefits of living in Greece

Greece: a unique location to live

Greece, a full EU Member State, scores high on all major factors taken into consideration when choosing a new country for relocating, such as quality of life, regulated environment, secure living conditions in urban and rural areas, access to efficient services, residence privileges for family members, freedom to travel, among others. Despite its small size, Greece features a particularly diverse natural environment, providing many recreational opportunities. This, combined with a spirited lifestyle blending both ancient and modern Mediterranean culture, makes Greece a simply extraordinary place to be - and a wonderful place to call home.

Lifestyle

With 300+ days of sunshine per year, the climate in Greece makes living in this Mediterranean destination a year-round joy. The country’s stunning topography and existing facilities offer countless options for recreation and relaxation, such as swimming, sailing, kite surfing, rafting, biking, rock climbing, skiing, golf, spas - just to name a few. For after-hours entertainment, restaurants, bars, clubs and cultural venues all contribute to a vibrant nightlife. A modern tourism infrastructure is at your disposal for weekend getaways to some of the world’s most beautiful locales. Whatever you choose to do, healthy and joyful living is part of the Greek lifestyle.

History & Culture

As the birthplace of Western civilization, Greece’s cultural legacy lives on in modern Greek society. While countless archaeological sites and museums offer visitors and residents a chance to experience Greek history in person,

the country’s deep heritage is also felt in the spectacular con- cert halls, the summer open-air theaters, and the bustling neighbourhood art galleries found throughout Athens and other cities. Greece is today, as it has been for thousands of years, an inspiring place to be.

Gastronomy

The Mediterranean diet is a global brand that needs no introduction. There

Citizenship by Investment Greek Special Report 2017

Greece’s ‘intellectual capital’ will continue to be a strong national asset and investors who are seeking special skills will have a host of competitive advantages when choosing Greece as an investment location. is nowhere on earth better suited for healthy, wholesome eating than Greece, with a rich variety of ingredients and traditional products, such as seafood, olive oil, cheeses and other dairy products, tempting pastries and specialty wines that will satisfy every foodie and thrill every cook.

Education

Greece offers a wide variety of international educational options for expatriates, from pre-schools to universities - especially for students seeking studies in English, French, and German. Many high schools offer the International Baccalaureate (IB) program and have a good track record in placing students at prestigious universities, both in Greece and abroad. At the same time, many international universities offer unique educational programs in Greece for undergraduates and graduates alike.

Healthcare

Greece offers a modern healthcare infrastructure and highly skilled physicians and specialists who have been trained in the world’s finest medical facilities. Healthcare in Greece is provided by the National Health Service and by the private sector. Employees in Greece must be insured through the National Social Security System and can also choose complementary private coverage.

Multilingual capability

Greece ranks favourably in the EU for its number of speakers of a second language. English is the most widely spoken second language in Greece and is often the language of business used on a daily basis, especially in foreign companies. In addition, there are speakers of most European and nonEuropean languages.

Intellectual capital

Education has long been recognized as the most valuable asset to advancement and many students achieve high academic and professional success in Greece as well as abroad in various sectors, including medicine, science, new technologies, economics and law. Greece’s “intellectual capital” will continue to be a strong national asset and investors who are seeking special skills will have a host of competitive advantages when choosing Greece as an investment location.

Citizenship by Investment Greek Special Report 2017

‫فوائد احلياة في اليونان‬

KappaSigma Partners is a real estate services company, supporting clients globally in the formulation and execution of their real estate strategy - offering its services with an innovative and flexible approach. We specialize in uncovering hidden values and in asset management for all types of property - from small assets to very large property portfolios. Our services are highly research led, for informed decision making and based on the teamwork of our selected local and international professional partners, who have a diverse background of expertise in all sectors that are relevant to real estate. For each project in hand, a unique team is formulated aiming at the highest quality of service and benefit to the customer. We take a results driven approach, aiming at the highest levels of satisfaction of our clients.

YOUR TRUSTED PARTNER IN REAL ESTATE Knowledge | Experience | Integrity WE PROVIDE

We have a deep understanding of the workings of real estate

• Real estate consultancy

markets and we put forward innovative and 'value for money'

• Valuations • Research reports • Project management • Investment advice

proposals to our client. We do not compromise with mediocrity. We dedicate much time upfront to examine all facets of each new project and evaluate several different scenarios, to choose and propose to you the highest and best solution relative to your needs and aspirations. RESIDENCY PERMIT RELATED SERVICES – GREECE & CYPRUS Property purchase and residency permit acquisition services are offered by Kappasigma Partners as a complete investment service. The in-house services are supported, where necessary, by a team of expert associates (lawyers, engineers, notaries, tax consultants etc.). A. Services regarding the selection and purchase of a property • A wide variety of excellent properties for sale (residential, offices, retail, hotels and other specialized properties) in our portfolio / Search for properties for sale in selected areas, based on the exact requirements of the investor • Arrangement of viewings of properties • Technical / Valuation reports on the shortlisted properties • Legal due diligence of the titles of ownership / Tax number registration / Bank account opening / Notary Public services / Registration at the Land Registry B. Services regarding the issuance of a residency permit • Legal services regarding the issuance of a residency permit for the owner and family members • Action for an Insurance contract to be signed (where necessary) for medical care C. After sales services • Services regarding the connection of the property with the main utilities • Architectural, interior design, renovation works • Taxation advice in cooperation with specialized tax consultants • Property management services • Renewal of the residency permit when necessary

CONTACT DETAILS

KAPPASIGMA PARTNERS 5 Charilaou Trikoupi Street, 10678 ATHENS, GREECE Phone: (+30) 211 012 4800 | Fax: (+30) 211 012 4799 | E-mail: info@kspreal.com | Skype: kappasigma.partners | www.kspreal.com

GREECE | Golden Visa Program GREEK-EU PERMANENT RESIDENCY OFFERING FAMILY SECURITY, VISA FREE TRAVEL AND ACCESS TO EU EDUCATION, HEALTHCARE AND BUSINESS OPPORTUNITIES. Avgerinos & Partners Law Firm (AVGLaw) is a boutique law firm based in Athens, Greece, specialising in business, commercial, financial and investment law. It aims to operate as a provider of specialised legal services tailored to each client’s needs. Our philosophy exceeds the common depersonalised and technocratic legal advice and is based predominantly on the immediacy of communication and on high efficiency in support of affairs, works and studies in the fields of our expertise. OUR LAW FIRM AVGLaw was established in 1974 AVGLaw is one of the drafters of the new Greek Golden Visa law AVGLaw is No. 1 law firm in Greece regarding property immigration residence permits (Golden Visa). It has acquired more than 400 Golden Visas for its clients during the past 3 years AVGLaw is the only Greek law firm with a Chinese lawyer-associate

WE PROVIDE FULL SERVICES INCLUDING:

• visa application assistance • preparation and execution of pre-purchase contracts • opening of bank accounts • welcoming of clients (investors) in Greece, organisation of accommodation and hospitality • property and seller due diligence • preparation and execution of final purchase contract • fast-track application and acquisition of residence permits (Golden Visas) • tax filings and tax payments • property management (renting, housekeeping, bill payments) • preparation and supervision of agent agreements between Chinese agents and Greek developers-sellers

AVGLaw offers competitive fees and top-rated quality services without commissions AVGLaw cooperates with reputable property sellers and provides problem-free quality properties AVGLaw also provides direct sales of quality properties in Athens, Santorini and other islands Excellent relationship and cooperation with Greek government authorities and Greek Consulates in China AVGLaw has been awarded the 2014 Exports Award for the best provision of legal services abroad and the 2017 Award for the Best Financial Services Regulatory Law Firm of the year in Greece.

26 Al. Soutsou street, GR-10671 Athens

T : +30 210 3600829 F: +30 210 3600138 E: info@avglaw.gr

www.avglaw.gr

Citizenship by Investment Greek Special Report 2017

Feature

Investment Opportunities in Greece

Nowadays, Greece presents unique investment opportunities through business development models that promote its competitive advantages and investment potential in various sectors of production.

Tourism

Tourism is one of the main pillars of the Greek economy and is considered by many analysts to be an “export champion” for Greece. According to the latest World Economic Forum 2015 Travel and Tourism Report, Greece is ranked 31st among 141 countries in the Travel and Tourism Competitiveness Index. Greece possesses unique characteristics (climate, nature, history, culture, gastronomy, etc.) that offer a globally competitive tourism product. The gaps that exist between the demand and supply of tourist services provide significant opportunities in many subsectors of the Greek tourism market (luxury resorts, tourist accommodation, marinas, city breaks, golf tourism, heath tourism, etc.). Additionally, new laws focusing on the development of strategic investments provide significant room for new investments in the sector.

Food and Beverage

The sector offers investors a plethora of attractive opportunities. It is characterized by a favourable environment with low operating costs and abundant raw materials of high quality. Meanwhile, a general shift towards a low-calorie, healthy diet throughout the western world favours the Greek Mediterranean diet and Greece’s traditional agricultural products. Furthermore, Greek companies have already established an extensive production and sales network that offers access to emerging markets, while the F&B industry is staffed by a highly experienced and well-educated labour force.

Information and Communication Technologies (ICT)

The ICT sector offers several opportunities of investment in high-end, value-added services with a global scope. The IT sector in Greece consists of a group of hard working, highly qualified professionals with global experience and entrepreneurial talent.

Citizenship by Investment Greek Special Report 2017

Greece has set up a flexible and fast procedure for non- EU/ EEA foreign investors who wish to obtain an entry visa and a residence permit for the purpose of investment activity in Greece.

The strength of this sector lies in the “versatile minds” of its people. Investors can recruit top talent at a highly competitive cost. Greece is in 2nd position among the top 10 countries in Eastern Europe in ICT Development Index skills and in 16th position globally in ICT human capital. Public and EU funds are available for cooperation and development. Many Greek startups successfully compete abroad and major international players have a strong presence in the Greek market.

Energy

The evolution of the energy market in Greece provides numerous opportunities for international companies to participate in large projects in the electricity, gas, and fossil fuels sectors. In addition, there is great potential for smaller-scale investment in Renewable Energy Sources (RES), since a national target has been set to achieve a 20% share by 2020. Greece has extremely favourable climatic conditions for wind and solar parks and there is a variety of raw materials available for biomass energy production.

Logistics

Greece stands at the crossroads of three continents (Europe, Asia, Africa), being a strategic hub for the development of transportation in the greater region. With maritime transport accounting for 80% of global trade by volume and container, Greece’s geographical position as a gateway between East and West render it highly attractive for investments in transport and logistics.

Life Sciences

Greece’s life sciences industry has been developing at a vigorous rate, with new startup and spin-off companies increasingly pursuing international R&D collaborations for the development of competitive, technology-based products and services. Essential to this dynamic growth is the Greek R&D infrastructure, which includes internationally recognized research institutes, teams and university groups. There are several Greek companies already competing successfully in the international pharmaceutical markets, with a strong shift towards R&D, innovation and marketing. Note that Greece has the potential for competing in the “middle market” of medical tourism, which has been among the fastest-growing sectors internationally over the last decade.

Overview

With a new vision for development, Greece aims to attract foreign direct investments in infrastructure, manufacturing, energy, tourism, agriculture and other sectors through flexible and fast administrative procedures, and by promoting its natural resources, well-educated human capital and other unique comparative advantages in the broader South-Eastern European region. Greece has set up a flexible and fast procedure for non- EU/ EEA foreign investors who wish to obtain an entry visa and a residence permit for the purpose of investment activity in Greece. Residence permits can also be granted to company executives involved in the implementation and/or the operation of the investment project. Up to 10 permits may be issued for an investment project (investors and executives), depending on the investment scale. The investment activity may be implemented through the construction of new facilities (greenfield investments) or business acquisitions, restructuring as well as expansion of current activities (brownfield investments), provided that it has a positive impact on the national economy.

Export-oriented manufacturing companies

There are many Greek manufacturing companies which possess unique competitive advantages in many subsectors. Their patents and know-how enable them to compete globally and they have strong presence in many European and Asian countries. Due to the current economic situation, many of these companies are focusing on expanding abroad and some are looking to partner with foreign investors.

Citizenship by Investment Greek Special Report 2017

‫فرص االستثمار في اليونان‬

Feature

Take advantage of the best Residency Real Estate Programme in one of the safest areas of Europe, the island of Crete, Greece.

Greece can grant Residence Permits, for Non-EU citizens and their families with the acquisition of property worth more than 250.000 Euros. Once the non - EU citizen acquires a Residence Permit in Greece, then is allowed to live in Greece, exit and re-enter Greece any time without a visa and travel to all Schengen countries without further documentation other than passport. Our real estate company offers a large portfolio of excellent properties in the Island of Crete. We are totally committed and dedicated to offer you the best possible customer service helping you through what should be an exciting time. Our aim is to inform you and advise you, to build a trustworthy relationship, and ultimately to provide you with your ideal property. Our cooperate Attorney at Law will assist you in all legal aspects to obtain your Residence Permit in Greece. Their experience in Property Law and in granting Residence Permits, will guide you in all steps of the process. For more information please contact: CRETE PROPERTIES FOR YOU Real estate agency Plakias, Rethymno, Crete, Greece 74060 T: +30 28320 31530 | F: +30 28320 31535 E: info@creteproperties4u.com www.creteproperties4u.com

AMALIA MAKRYDAKI AND PARTNERS Attorney at Law 16 Dimitrakaki, Rethymno, Crete, Greece T: +30 28310 23097 | E: amakrydaki@gmail.com www.apropertylawyerincrete.com

Unit 5, “Hiltongrove N1”, 14 Southgate Rd, London, England. N1 3LY. Tel: +44 207 241 1589 Fax: +44 871 314 0213

Purveyors of Publishing Excellence... reinnova

tin banARAB EUROPEAN g kinBRITISH g an AN fiGnUan I DE ce CE BAN K I N G & FI Nd ¡ Aggregate

2 0 1 6 - 2 0 1 7 ¡ Agriculture

¡ Airport Construction

¡ Airport Terminal

¡ Auditing

¡ Fashion manufacturing

¡ Banking

Banking & Finance Guide. Europe GCC Trade

& Investment Guide 2016 Stay tuned for our upcoming publication publications.

¡ Refining - Oil &

¡ Cable manufacturing

¡ Clothing Design

I O N T O D AY. N

ENTREPRENE ET

¡ Shipping

¡ Insurance

¡ Software development

¡ International Trade

¡ Sponsorship ¡ Strategies

¡ Marina development

¡ TV & Film

¡ Maritime Development

¡ Technologies

¡ Marketing

¡ Telecommunications

¡ Mills

¡ Tunnel Construction

¡ Mining Facilities

W W W. I N N OVAT

¡ Ship building

¡ Management

¡ Coastal Terraforming ¡ Coins Minting Facilities ¡ Commodity trading ¡ Construction ¡ Consultancy

A M E D I A P L AT FORM FOR IN N OVAT I V E

management

¡ Satellite manufacturing ¡ Security Solutions

¡ Hybrid Engine technology ¡ Infrastructure

& laying

Gas

¡ Satellite broadcasting

¡ Hospital construction ¡ Hospitality construction

¡ Cargo Terminal Planning

¡ Currency Printing

¡ Recycling

¡ Gold & Hedge funds

¡ Border control ¡ Branding ¡ Broadcast facility

¡ Real Estate

¡ Finance

¡ Building material

& construction

¡ Power plants ¡ Property

¡ Environmental development

¡ Aviation Security

the CBI and theof Arab British publisher the CBIEuropean and

¡ Pharmaceutical manufacturing ¡ Pharmaceutical research ¡ Port management

¡ Engineering & Construction ¡ Environmental Solutions

¡ Aviation

BLS is the is official BLSMedia Media thepublisher officialof

¡ Cyber security ¡ Ecofarming ¡ Education

Concession Development

¡ Architecture

¡ Mobile Network

¡ Water Management Construction

¡ Water Treatments

WE TURN YOUR GREAT IDEAS INTO REALITY WITH UP TO 80% FUNDING | Angola | Antigua

Albania | Algeria

www.titaniumcapi talpte.co

Gallery 4, Lloyds Building, 14 Leadenhall Street, London EC3 Email: info@titaniumcapital.o rg Phone :+44.(0)2.072.543.707 | Mobile :+44.(0)7.9 36.936.777

A sister company of

issue 8

Trade & Invest in America | The EB-5

THE SPECIALISTS

- HENRY ABDO

& CO

投资移民 issue X 9

Global Series NEW OPPORTUNIT IES FROM THE LEADING INVEi o n WOR Issue ... Inside This LD’S i n e s e e d i t STMENT IMMIGR Special Ch ATIO N PROGRA 6 ies For S Winter 201 Top Ten CountrMME ent

Gateway programme!

Citizenship By Investm

SSppr riin ng g 2200X 17 X

十大投资移民国

cy Citizenship via Residen

Inside This Issue

Dubai, Februar y居留移民 - March 2018

Purchasing Real Estate

Abroad

购置海外房产

Citizenship by Investment

In Focus ... 加拿大 Canada

nstein 列支敦士登 Liechte

y 匈牙利 Hungar 马耳他 Malta

l 葡萄牙 Portuga 瑞士 Switzerland

& Barbud 安提瓜和巴布达 Antigua 美国 U.S.A m 英国 United Kingdo The Investment Immigration Summi ts cover the most the world. This is comprehensive the place where programmes from leading government specialists will compa around officials and immigr re and explore new ation industr y migrate through the world’s top citizens and emerging opportunities for HNWI to invest and hip by investment programmes. If you’re focusing on the immigration market in Asia or individual wanting the Middle East, to learn more about or if you are an agent investment program the available interna or mes, ensure you tional opportunities mark these events for citizen in your diary.

Spring 2017

– Winter 2016 投资移民

3 Tel: (212) 233-747 7 Fax: (212) 233-487

Bangkok, 9-10 Novemb

Special Chinese Edition

corporate@blsmedia.co.uk

Suite 1001 232 Madison Avenue, New York, NY 10016

November 2017

er 2017

Citizenship by Investment

To advertise in either publication in the future, To advertise in either publication in the future, please contact us at: please contact Dimitris Yfantopoulos at: info@blsmedia.co.uk •Industry Leaders 行业领袖 r eys, lecturer and autho •Renowned attorn 家著名律师、讲师和作 rate law Securities & Corpo US in ed erienc •Exp 验法方面拥有丰富的经在美国证券法和公司 Immigration law •Experienced in US 有丰富的经验方面拥移民法在美国

Hong Kong, 6-7

“The Resurgence of the Global Residential Markets” ‫كيفية تعظيم تبرعاتكم‬ “Brexit and Investm ent Migration to the UK” ‫بريكست واالستثمار من خالل‬

‫الهجرة إلى اململكة املتحدة‬ “Where’s Best to Invest? Property in Europe” ‫مكان هو األفضل لإلستثمار‬ ‫أي‬ ‫العقار في أوروبا ؟‬

In Focus

City focus: Dubai ‫ دبي‬:‫التركيز املدينة‬ Cyprus ‫قبرص‬ St Lucia ‫سانت لوسية‬ Germany ‫أملانيا‬ The Commonwealth of Dominica ‫كومنولث دومينيكا‬ ... and more ‫ و اكثر‬...

Register online or contact one of our Customer Servic PHONE: +852 2219 e Repre 0111 • EMAIL : INFO@BEACONEV sentatives at INVESTMENTIMM ENTS.COM IGRATIONSUMMIT. COMent.org

estm www.citizenshipinv

www.mshahlaw.com

www.blsmedia.co.uk www.blsmedia.co.uk

www.citizenshipinv estment.org

URS

GO GREEK!

Invest in stunning Greece through Residence Permit!

info@eurofast.eu | www.eurofast.eu

Your Regional Business Advisory Organisation

Why? Privileged geographic location Access to high-growth and emerging regional markets High quality logistics and communication infrastructures Wide selection of natural resources Desirable place to live Highly skilled & low cost workforce

How? Residence Permit through: a. Financial independence b. Acquisition of real estate property c. Setting up your own company or your Greek branch without minimum capital

What Eurofast can do for you: Preparation of all necessary forms and submission to the authorities Assistance on finding and acquiring the immovable property, as well as the preparation of necessary agreements and compliance with the law Opening of bank accounts Accounting services For more information on Eurofast and its service portfolio, please visit www.eurofast.eu Greece: 12th Theophanous Str, 11523 Athens Tel: +30 210 8257722, Fax: +30 210 8257721, E: athens@eurofast.eu Tehran