Client story
Client's Story
Where they started
The client is an active entrepreneur from Russia, and took a business-oriented approach: Greek residence permit is needed, but invested capital must also work. Two objectives immediately emerged, both requiring careful handling.
Why the standard route did not work
First - the same access barrier as in our previous Greek cases: new Golden Visa applications from Russian passport holders have been suspended since 2022. We had already developed a solution - a legal second passport of a non-sanctioned country. As the client was born during the Soviet era, like previous clients, he qualified for simplified Kyrgyz citizenship: without permanent residence requirement, with short visits only. With a Kyrgyz passport, the path to Golden Visa opened.
What BRIDGES had to solve
Second objective - property income, and here lay a trap that catches many investors. It would seem logical to lease the apartment short-term through Airbnb, but on property serving as the basis for Golden Visa, short-term rental is prohibited - violation threatens residence permit revocation and substantial penalties. In other words, "recouping" the property through short-term rental is impossible. However, long-term rental is permitted - from one year: it provides income and does not violate regulations.
Why a standard answer would not do
At BRIDGES we addressed both objectives. We opened access: obtained Kyrgyz citizenship for the client and submitted for Greek Golden Visa as a Kyrgyz citizen. And we structured the income correctly: selected property suitable for long-term rental and registered the lease for a minimum of one year - legally. As a result, the entrepreneur obtained both residence permit and a functioning asset, without jeopardizing his status.
I am an entrepreneur, and it is important to me that money works. But I cannot enter the Greek program with a Russian passport - applications have not been accepted since 2022. BRIDGES arranged Kyrgyz citizenship for me (I am originally from the USSR) and submitted for Golden Visa as a Kyrgyz citizen. And they honestly warned about rental: short-term through Airbnb on this property is not permitted - they will revoke residence permit and impose penalties. Therefore we lease long-term, from one year - and generate income while keeping status secure. I obtained both residence permit and a functioning asset.
