Legislation to lift the capital controls is expected to be submitted to the Greek Parliament and go into effect on September 1, 2019 ending four (4) years of restrictions on transfers abroad by companies and individuals. The purpose of the restrictions on cash withdrawal and transfer of funds were to preserve the financial stability, by…
A new Greek law envisages reductions in a special property tax (ENFIA) by an average weighted 22 pct, offering a respite to real estate owners in the middle class and low-value owners. Cuts in ENFIA, based on the total value of real estate assets, will be: 30 pct for property up to 60,000 euros, 27…
An Economy Ministry bill tabled in Parliament provides for the broadening of the criteria for non-European Union citizens to be granted a five-year residence permit, or Golden Visa, beyond the investment of 250,000 euros in local real estate assets. The draft law foresees permits being issued for third-country nationals (and their families) who invest a…
