Greece Golden Visa-An Open Door To The EU For South Africans

Greece Golden Visa: An Open Door To The Eu For South Africans

Greece, a land that is loved for its pristine beauty with her beautiful islands and breath-taking blue flag beaches is enough to make anyone want to jump on a plane and head to paradise.

The country also has incredible historical buildings, including the 5th-century B.C. Acropolis Citadel and the Parthenon Temple. And while Greek remains the official language of this ancient civilisation, many other languages such as English, German, French and Italian are spoken by the younger generations.

Many businesses are still producing, selling, and earning profits in the country, despite the torrid financial situation the country has weathered in recent years.  The economy is now projected to grow by 4.1% in 2021.

Major investments by foreign companies, such as Microsoft and Amazon are in the pipeline and credit ratings agency, Moody’s, upgraded Greece’s rating in November 2020. There is a new sense of national confidence after 10 years of painful EU-imposed austerity and reforms.

Greece’s effort to enhance economic growth prompted the government to introduce a new residence programme called the Greece Golden Visa. This visa programme has been named the most popular residence-by-investment program for three consecutive years (2018, 2019 and 2020) having surpassed the US E.B.5 in terms of its approved applications.

Potential applicants can choose from several investment options available to non-EU-nationals, which grant applicants the ‘’golden ticket’’ into the EU and visa-free access to Schengen.  A major benefit of the Golden Visa is that investors are not required to  immediately relocate to Greece upon making an investment which makes it the ideal opportunity for South Africans who simply want to keep their options open regarding future relocation.

Some of the key advantages of Greek residency are:

  • Visa-free travel within the 26 EU Schengen countries.
  • Offers Visa on arrival for 186 countries.
  • No requirement to reside in Greece.
  • Residence permits can be acquired within 30–60 days.
  • Unlimited expiry date of residence permit.
  • Opportunity to rent out the investment property.
  • Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse).
  • Leads to Citizenship after 7-years of residence.
  • Ability to hold shares and receive income from the dividends of a company registered in Greece.
  • Free access to public health and education facilities
  • Great Investment opportunities (prices dropped more than 50% since 2010);
  • The most affordable program in Europe.

What are the criteria to obtain the Greek Golden Visa?

  1. You must be over 18 years of age;
  2. You must have a clear criminal record; *No need to submit official non-criminal record.
  3. You must make an investment under the following options:
  • Purchase a real estate property worth at least €250,000.
  • Sign a lease agreement with a hotel or tourist establishment for at least 10 years.
  • Make a capital investment of at least €400,000 in a company registered in Greece.
  • Make a €400,000 investment in Greek government bonds.
  • Make a €400,000 investment in bonds or shares of real estate investment companies.
  • Make a €400,000 deposit in a Greek bank for at least 1 year.
  • Make an €800,000 investment in corporate or government bonds.
  1. Real Estate documents:
  • A contract of purchase which attests to the fact that there are no conditions or exemptions in the purchase, states the total price of the purchase, and the method of payment (it must be in full, via credit held in an institution operating in Greece or via a credit transfer.
  • Proof of transfer of the contract by the accountable land registry
  • Certificate issued by the land registry proving there has been no impediment related to the purchase.
  1. Renting hotel or tourism establishment:
  • Timeshare contract for a minimum period of five years
  • Proof of transfer registration issued by the competent Land Registry.
  • A certificate issued by the National Tourism Organisation (EOT)
  • been informed of the conclusion of the timeshare contract.
  1. Investing in a company:
  • Documents with details of the company receiving the investment, whether it is established or to be established (must include name, type of legal entity, and shareholders)
  • A document detailing the investment project.
  • The location of the investment project
  • The budget and financing structure for the investment
  • A timeline detailing the implementation of the investment.
  • Predictions for the results on the first five years of investment (feasibility study and cash flow forecast)
  • A document detailing the number of jobs that will be created by the investment.

It takes up to 60 days to process a Golden Visa application, so it’s advisable to seek professional assistance to ensure that all the correct documents have been collated and submitted to ensure that the application process is expedited.

Submission Details of SEPCOIII Applicant

Submission Details of SEPCOIII Applicant

Europe Citizenship and Residency by Investment

Europe Citizenship And Residency By Investment

Europe  (EU) is one of these locations that is increasingly becoming an attractive destination for South African emigrants, who are also looking for the financial and job stability that many countries, like France, Germany and Portugal, can offer, with the added thrilling cultural and travel benefits of living of the continent.

Fortunately for South Africans, the doors to emigrate to several countries in the EU are wide open through their residency and citizenship by investment programmes. EU countries offer several investment options, which provide immigrants with transparent and respectable access to the continent’s society, way of life and economy.

Potential EU immigrants are required to invest their funds in a particular country, rather than donate to a government fund. The investor will later receive back the principal sum invested, together with any return on investment at the end of the investment period.

Immigrants may choose from a wide range of qualifying investment classes. These investment classes are ideal for entrepreneurs, investors, and families seeking increased mobility and a stable and business-friendly country in Europe.

Xpatweb is a team of immigration specialists and due diligence professionals specialising in providing services pertaining to all aspects of obtaining residency and citizenship in the EU. Our Immigration Specialists dedicate personal attention to each client and oversee each case individually.

We assist our clients and asses which immigration programme best suits their objectives and whether they qualify for residency and naturalisation under the law.  We offer all ancillary tax and legal services for holistic coverage of all immigration and relocation projects.

Xpatweb is excellently placed to assist South Africans who wish to emigrate to the EU and other parts of the world under the following list of programs:

  • Citizenship-By-Investment (CBI): We can assist clients to obtain citizenship through investment in:
    • Europe: Austria, Malta, Montenegro and Turkey; and
    • Caribbean: Antigua & Barbuda, Dominica, Grenada, Saint Lucia and Kitts & Nevis
  • Residence-By-Investment (RBI) programs around the world:  We can assist from A-to-Z in Australia, Austria, Canada, Cyprus, Greece, Italy, Malaysia, Malta, New Zealand, Portugal, Singapore, Switzerland, Thailand, the UK and the US.

There is a whole world of emigration opportunities for South Africans to choose from. We have attached our brochures that compare the investment programmes for several countries for your perusal and further action. We look forward to assisting you with any queries or advice you may require regarding your imminent emigration plans.

South Africans Should Take Advantage Of Booming Global Employment Opportunities When Immigrating

“Before pursuing career opportunities abroad, South Africans should do their homework with the assistance of an expatriate professional,” says Zainab Bouziane, Immigration Specialist at Xpatweb.

By complying with requirements that could change radically from country to country, hopeful job seekers are more likely to land their ideal position.

Positive Outlook

Rob Ridout, International Job Search Consultant, says local professionals are eager to seek employment abroad for several reasons.

The first is that they want to live somewhere safer, not just for better security but greater economic stability as well.

Some also fear that, under current local conditions, they risk losing their jobs and remaining unemployed for a long time.

At executive level, many see the door to career progression slamming shut as local business continues to contract.

In contrast, international recruitment is thriving, with major economies like Germany and the Netherlands posting hundreds of thousands of job ads on the web.

The top positions on offer include IT, engineering, medical, logistics and management roles.

Ridout advises that candidates upgrade their CVs for AI-driven short-listing systems that are becoming commonplace overseas, and up their digital interviewing skills.

“International search exposes South Africans to a greater pool of jobs, but they need to pursue them aggressively to compete against global talent,” he says.

Immigration Considerations

Instead of getting too excited about their prospects, South Africans should take a level-headed approach to international job search.

“Before even considering an employment contract, they must engage an expatriate tax advisor and immigration specialist to ensure their relocation complies with local requirements and those of the destination country,” says Bouziane. Without following the correct processes, their career hopes may be dashed by unbreakable red tape.

As countries like Australia and New Zealand increase barriers to entry for foreigners, regions like Europe continue to impose restrictive visa rules on immigrants.

Job seekers are therefore turning to typically overlooked locations, like Mauritius. According to Bouziane, easier access and lower investment requirements are currently making the island, located east of Madagascar, a more attractive option to South Africans.

Eager to attract investors and businesses for economic growth, Mauritius currently offers both property and investment auctions that are more reasonable than those of other countries. Several multinational companies also maintain offices there, suggesting job opportunities for those willing to ask.

Preparations

South Africans who can afford to invest in the island nation must consider the shopping list of concerns even the simplest relocation entails. At the top is definitely tax planning, for which professional assistance is a must.

“Anyone leaving South Africa must consider their status with SARS, as leaving South Africa does not automatically relieve you of your tax obligation. And a tax non-compliance could result in a costly delay,” warns Bouziane.

They also need to consider opening a bank account in that country prior to departing; finding accommodation; shipping their belongings; buying a vehicle; relocating their pets; registering their children in school; and much more.

“With all these pressures, experts who have completed the process many times before provide invaluable support,” says Bouziane.

Occupations in the engineering sector remains most in demand

We Must Interrogate The Manufactured Controversy Over Cuban Engineers Coming To South Africa

This is why some of us have been surprised by the response in both news media and social media to the announcement that the Department of Water and Sanitation had taken on board 24 Cuban engineers to help resolve the challenges faced by the water sector, as well as transfer skills. Most notable among the reports has been one carried by News24 under the headline, “Decision to bring in Cuban engineers to South Africa slammed”, quoting Consulting Engineers of South Africa (Cesa) and political voices such as the Democratic Alliance and Herman Mashaba.

The News24 article quotes Cesa CEO Christopher Campbell as saying, “It also begs the question why so little has been done to leverage our local expertise and grow our own future capacity over the last 20 years.” They also quoted Mashaba, leader of ActionSA, as saying, “SA has some of the best engineers in the world, who graduate from South African funded universities. Many… are sitting at home unemployed”. Mashaba further asserted that, “to import Cuban engineers, who qualified from lower-standard universities than our own world-class engineers, is criminal”.

The News24 article also quotes the Democratic Alliance’s spokesperson for water and sanitation, Leon Basson, who enquired as to whether “an audit was done on what critical skills are needed”.

AfriForum is quoted in the same article as saying, “South Africa has plenty of experienced, qualified engineers and specialists capable of assisting the department”. Indeed, AfriForum’s sister organisation on labour issues, Solidarity, announced that it had found 120 South African engineers “competent and willing” to assist the government.

A question therefore arises: What is the truth about South Africa and the skills and employment question with regards to engineers? The question of skills and employment in South Africa is a serious one, and cannot be left to political rhetoric or poor news reporting. The question from the official opposition is especially troubling, given information in the public domain, and how we meet the challenges we face in employment and skills.

In February 2021, the Department of Home Affairs published the new draft critical skills list. The list is widely regarded as important for businesses in South Africa that are looking to attract skilled workers, since it allows companies to attain approval to import critical skills. It hadn’t been published since 2014.

In an article published on 16 February 2021, the online publication, BusinessTech quotes Marisa Jacobs of Xpatweb, an organisation in the business of importing skills: “Government’s initiative to fine-tune our immigration system to make it easier for companies to attract the skilled people they need is admirable… We’ve already had record participation in this year’s survey, which indicates how important an issue this is”. In their Critical Skills Survey, Xpatweb found that occupations in the “engineering and ICT sectors remain most in demand”.

The Home Affairs list of critical skills is alarmingly long. And as it relates to the controversial government decision to import Cuban engineers, the list contained “engineering manager, civil engineer, hydrologist, industrial engineer, mechanical engineer, and quantity surveyor”. This list closely resembles the “2020 List of Occupations in High Demand: A Technical Report”, released by the Department of Higher Education working with the University of Cape Town’s Development Policy Research unit.

The Engineering Council of South Africa, which is the authority and regulatory body in this area, makes this assertion about South Africa’s skills situation: “The international benchmark of an average population per engineer shows that South Africa lags behind other developing countries. In South Africa, one engineer services 3,166, compared with Brazil’s 227 and Malaysia’s 543 per engineer. The discrepancy in the benchmark points to one thing: South Africa is severely underengineered.

“The shortage of engineering practitioners is evident in the number of competent engineers available for ongoing projects. It has also led to cases where work which requires input of competent engineers is carried without such input. However, this cannot be allowed to continue as all spheres of government are dependent on engineering services to address vital needs for South African communities.”

Why then is the decision to bring Cuban engineers into South Africa so controversial? Consider for example that in July 2020, the publication Engineering News reported that “a team of German technical experts was planned to come to South Africa to provide essential services to local German businesses and local entities, such as embattled Eskom”. The report said “the agreement is the result of close cooperation between International Relations and Cooperation Minister Naledi Pandor and Foreign Minister Heiko Maas”, and that South Africa would be receiving “engineers, technicians and other experts whose skills are urgently needed to help get the economy going and South African exports rolling again”.

Is it perhaps to do with the fact that many people agree with Mashaba’s view that the Cuban education system is inferior? Opinions from leading global bodies seem at odds with Mashaba’s understanding of the situation.

An article reprinted from The Conversation by the World Economic Forum under the title, “What the world can learn from the Cuban education system” notes the Cuban education system is premised on understanding that only good-quality, empowering education could conquer Cuba’s acute poverty, ignorance and underdevelopment.

“Cuba invested heavily to make its education system world-class. By the 1980s and 1990s, the country’s educational disbursements as a ratio of gross domestic product were among the highest in the world,” the article notes.

The United Nations Educational, Scientific and Cultural Organization (Unesco) report, “Education for All 2000-2015” noted that “only Cuba reached global education goals in Latin America and the Caribbean”. In its Global Education Monitoring Report 2020 (commonly called the “World Education Report”), Unesco further recognised Cuba’s policies to guarantee inclusive and quality education. It further noted that, “… these results of the island are the result of the political will of the government to ensure education as a fundamental human right, despite the impact of the economic, trade and financial blockade imposed by the United States for six decades and its intensification by the current administration”.

Where then, did Mashaba get the notion that Cuba’s education is inferior, and why did News24 give him the platform to comment on issues of quality of education in Cuba? Mashaba’s beliefs and negative attitude towards foreigners is public knowledge. Why would his views in this regard receive this prominence without being checked?

Is it the view expressed by many on social media that, given the state of water resources in Cuba, their engineers cannot claim to know or teach anyone about water. It is indeed true that Cuba has been widely reported to be suffering water supply shortages. But there are two ways to think about this. We in South Africa accept, as has been reported internationally, that our health system is far too inadequate and crime is too high. Yet our health professionals are sought after internationally, as are our investigators, criminologists and jurists used as experts globally.

It is also accepted that among the reasons for the water issues in Cuba is the economic, trade and financial blockade imposed by the United States for six decades, which has complicated that country’s ability to modernise its infrastructure. And as The New York Times noted in its 15 February 2021 article titled, “An inside look at Cuba’s constant struggle for clean water, “in recent years, infrastructure problems have been compounded by drought and rising temperatures”.

As we know as South Africans, it was our global isolation in the years of apartheid that forced us to build local expertise and institutions to overcome challenges of water and electricity, for example. This did not mean that all or even most South Africans had access to clean water and electricity, yet that expertise existed.

Perhaps a critical part of the discussion on skills and employment is the detail often overlooked as we rush through the various challenges we face, or the interests we hold inform our position in our issues on critical issues. This also perhaps speaks to the offer by Solidarity to avail 120 engineers who are “competent and willing”. The question must arise as to what are these engineering skills that are said to be available?

Responding to the Department of Home Affairs’ critical skills list, Millicent Kabwe, acting executive: strategic services at the Engineering Council of South Africa (Ecsa) points out that while the list is generally comprehensive, specialisations cannot be overlooked.

“Ecsa accreditation clearly states that professionals can only practice in their field of competence,” she says. “Civil engineers, for example, can specialise in roads, traffic and transportation, hydraulics, water and sanitation, structural or geological disciplines. Experts in one area are not considered competent in another.” We also have to consider that represented interests also can have the effect of distorting critical discussions.

In its statement, Cesa spoke of engineering skills in the private sector which were underutilised. Cesa represents engineers who are consultants and not those who are available for employment in municipalities and other government entities. It argues that consulting engineers have been underused by the government and that “employing highly skilled locally experienced engineers supported by unemployed graduates will provide a more sustainable solution”.

But consulting engineers are not available for employment in government entities and offices, so it is misguided to take its response to this decision by the government to mean Cesa has unemployed experienced engineers looking for work. Cesa argues that the government should use its consulting services, and suggests that it would hire unemployed graduates if it had government work. The proposition itself is interesting and raises other questions, but Cesa cannot be read to say that the government overlooked fit and available engineers in its ranks, who are able to take up positions in government entities and municipalities.

We also know that National Treasury has directed that government entities downscale the use of consultants and develop skills and competencies within the organisations.

We should always be circumspect and critical of government decisions. That is the duty of all citizens. But that is not the same thing as assuming poor motives or failing to critically assess the issues so that our engagement helps to build solutions rather than favour special interests.

Sumaya Hoosen, who serves as human capital and skills development executive at the Steel and Engineering Industries Federation of Southern Africa, says that the most important benefit of hiring foreign engineers needs to be in the development of local competence and expertise in these much-needed disciplines. Local companies have been hiring foreign engineers, so it’s not a new practice started by the Minister of Human Settlements, Water and Sanitation.

Jacobs of Xpatweb comments on the critical skills list from the Department of Employment and Labour, which helps companies to import engineers, and notes that, “companies actually prefer local engineers but need employees with the right experience. Hiring expatriates provides mentoring opportunities while meeting that condition”.

From everything that’s been reported in the news, skills transfer is one of the stated objectives of the government in the importing of Cuban engineers.

Source: Daily Maverick