Greece, Portugal and Luxembourg are the only golden visa schemes that offers residency for intangible investments such as bank deposits exceeding the value of €400,000, for individuals and legal entities.

  • Greece – 400K euros
  • Portugal – 1.5M euro (from 2022)
  • Luxembourg – 20M euro

No other country will give you a golden visa for depositing cash in a bank.

Bank cash deposits are very interesting option to acquire residency in the schengen area. Bank term deposits are risk free, safe option that comes with a peace of mind, while accruing fixed compounded interest over time. The money keeps growing. You can also hold multi-currency account to protect your money from being diluted by forex. It is a great investment during pandemic times, especially real estate and yields from government bonds have taken a beating from this pandemic.

It was only recently last year, Greece expanded the golden visa program, to include treasury bonds and bank deposits besides real estate investment. The real estate option is heavily promoted, there is a huge rush for this. Other options such as bank deposits and bonds are not widely promoted and less known to foreign investors. Investing in real estate is not a smart thing to when there is a steep decline in prices due to Covid-19.


Portugal accepts cash deposits in a local bank or in a regulated institution for Golden visa, under capital transfer option.

SEF requires a Declaration of a credit institution authorised or registered in the national territory within Bank of Portugal, attesting the holdership, free from any charges and obligations, of deposit accounts with a balance equal or above 1 million euros, resulting from an international and effective transfer, or of a quota of the same amount when joint accounts are at stake.

From Jan 1, 2022, new rules come into effect, the minimum bank deposit increases to €1.5 million euros.


Luxembourg also offers golden visa for depositing a whopping €20 million euro in a financial institution in Luxembourg for a period of 5 years


The Legal basis of the Golden visa program concerning (entry and residence for investment in securities or a bank deposit) is found in Article 16 of Law 4251/2014, as amended and complemented by Article 42 (c) of Law 4605/2019.

Greece will require you to do a term deposit of at least four hundred thousand (400,000) euros, in a domestic credit institution, for at least one year, with a standing renewal order. Expect the visa process to take between 3-4 months. You can also include family members for the golden visa.

The interesting part is the residence permit for bank deposits in Greece is granted for five years. It is renewed for an equal period each time. Legal entities can also make use of this excellent investment option.  A certificate from the credit institution on the details of the time deposit, its initial amount and duration, and the existence of a standing renewal order.

The interest rates for bank deposits, published by Bank of Greece are as follows. You can also refer to National bank of Greece interest rates for time deposit accounts.

Average interest rates on new euro-denominated deposits and loans (percentages per annum)

April 2020


Overnight from households


Overnight from non-financial corporations


From households with an agreed maturity of up to 1 year


Overall weighted average rate on all deposits


Source: Bank of Greece 

Once you acquire your residency, Greece will be ready to give you citizenship and passport after 7-8 years of living.

If you are looking to get fast track citizenship through bank deposit, there is one country that is worth mentioning, that is Turkey citizenship program. This is only country in the world besides Bulgaria, will give you a citizenship in just three months for a bank deposit of 500,000 US dollars.

Quick summary

  • Only three EU member states legally offers golden visa for bank deposits
  • Greece offers the cheapest bank deposit option 400K euro for one year to get a 5 year residence visa
  • Legal entities can also apply depositing cash

As a client, you will need to work with the lawyer, opening a bank account first, then providing all the paperwork and certification from banks and credit institutions. We work with law firms in Greece and Turkey, ready to assist clients with bank deposit option.