GREEK “GOLDEN VISA” FOR GOLDEN TRAVELS IN EUROPE
The Immigration and Social Integration Code (Law 4251/2014, Government Gazette 1, no 80) contains provisions that facilitate the stay of third-country investors, whose investments are characterized as strategic investments, via the provision of extended stay time limits for the representatives of investment bodies and their partners. Greece grants residence permits to third country nationals and their families who proceed to the purchase of real estate property in Greece, the value of the one exceeds 250,000 Euro. Investors from China, Russia and Turkey are the biggest investors in Golden visa Greece.
Why should someone choose Greek Golden Visa Program ? :
- the minimum required value of the contract is only 250.000 euro, while in Malta is required the amount of 650.000 euro, in Portugal the amount of 000 euro and in Cyprus the amount of 300.000 euro
- the non-mandatory presence of the investor in the country
- the permanent character of the residence permit, provided that the investor keeps ownership of the property
- the extension of the program to family members (ascendants and descendants)
- once the file of the investor is submitted, the residence permit is issued in only 1-2 months
- the prospects offered for developing additional business initiatives that will provide the opportunity to gain residence permit for investment activity , which is the second option of the program.
- the low real estate prices . Actually, real estate prices in Greece have recorded a significant drop of 40% to 45% over the last 7 years due to the economic crisis, so it is a great chance to buy holiday homes in Mykonos, Santorini , Paros, Rhodes, Halkidiki, Skiathos, Elounda, Porto Heli, Athens and other fantastic regions at extremely low prices
Here are the official statistics from the Greece golden visa program.
| Top 10 Countries | |
| COUNTRY | PERMITS |
| China | 1011 |
| Russia | 395 |
| Turkey | 222 |
| Egypt | 101 |
| Lebanon | 91 |
| Ukraine | 77 |
| Iraq | 69 |
| Syria | 52 |
| Jordan | 50 |
| Iran | 29 |
| Other countries | 208 |
| TOTAL | 2.305 |
Residence Permits to investors/property owners per year
| YEAR | PERMITS |
| 2013 | 16 |
| 2014 | 443 |
| 2015 | 950 |
| 2016 | 1.532 |
| 2017 | 2.305 |
Residence Permits to investors/property owners and their family members per year
| ΥΕΑR | PERMITS |
| 2013 | 35 |
| 2014 | 886 |
| 2015 | 2.146 |
| 2016 | 3.697 |
| 2017 | 5.699 |
Residence Permits to investors/property owners and their family members Top-10 Countries
| COUNTRY | PERMITS |
| China | 2525 |
| Russia | 907 |
| Turkey | 547 |
| Irak | 266 |
| Lebanon | 260 |
| Egypt | 236 |
| Ukraine | 171 |
| Syria | 161 |
| Jordan | 121 |
| Iran | 55 |
| Other countries | 450 |
| TOTAL | 5.699 |
Based on the latest available statistics from the Greek Ministry of Migration Policy , the Greek Golden Visa program is showing an increasing trend with 5,699 residence permits issued for property owners and for family members. In terms of approval for the GR Golden visa, China ranks first, followed by Russia, while Turkey ranks third. The presence of Egypt is notable, as well .
The EGNA Navridis & Associates lawyers are glad to responsibly take up, handle and process all required stages in the issuance of a resident alien permit. We oversee the completeness and accuracy of the portfolio to be filed with the competent administrative agencies. In our continuous efforts to serve our clients, we work with professionals of other fields who assist us in preparing a full package of notarial, legal, real estate and taxation services, ensuring prompt issuance of residence permits so that, our clients have the opportunity to travel freely throughout the EU and enjoy the Greek landscape just by purchasing exquisite real estate holdings in Greece.
Source: https://www.enterprisegreece.gov.gr/en/greece-today/living-in-greece/residence-permits
