Golden Visa | Greek Immigrants Will Double Price from May 1, Get on the Bus!

From May 1, 2023, the price of investment in some areas of Greek investment immigrants increased to 500000 euros. At present, it is less than three months since the policy was officially implemented. Many investors who intend to obtain "golden visas" are also eager to catch up with the "last bus", causing the issuance of "golden visas" to surge in the fourth quarter of 2022, and Chinese people are still The "main force".

Greece's Golden Visa Applications Surge

According to statistics from the Greek Ministry of Immigration, in the fourth quarter of 2022, the number of applications for the "Golden Visa" investment residence program in Greece increased sharply.

The Greek authorities received the highest number of "golden visa" applications in the last month of 2022, reaching 1116, far higher than 337 in September of the same year (the month when the new policy was announced), an increase of 231.

According to new statistics from the Ministry of Immigration, the Greek authorities received 4264 applications for new "golden visas" in 2022, and 5547 applications for renewal of "golden visas. A total of 2767 new "golden visas" were issued throughout the year, an increase of 81% compared to 1525 in 2021. But that number is still down from the pre-pandemic year of 2019, when a record high of 3504 "golden visas" were issued.

Greek media reported that since Greece announced that it would raise the investment threshold of 250000 Europe to 500000 Europe, the data showed that the number of investors has increased sharply, and the time period for investors to make investment decisions has become shorter.

Chinese buyers are still the main force

At present, Chinese buyers are still the main force of "gold visa" investors. According to relevant data, as of December 2022, 62.8%(6159) of the holders of gold visa residence permits issued are Chinese citizens.

This was followed by investors from Turkey (6.4 per cent) with 631 residence permits, followed by Lebanon (4.5 per cent), Russia (4.5 per cent) and Egypt (2.9 per cent). Nearly 200 other investment residence permits go to British investors, most of whom have Greek assets and only require residence permits after Brexit.

According to the time point of the new policy on may 1, 2023, there are less than 3 months left.

At present, the known price increase areas include the northern, central and southern areas of Athens in Attica, as well as Thessaloniki, Santorini and Mykonos.

In addition to price increases, you also need to know that there are purchase restrictions. Under the new system, applicants can purchase up to two properties with a total value of at least 250000 euros or 500000 euros (depending on the region), provided they are located in the same building.

In May this year, the Greek investment threshold price increase will soon fall to the ground. If you want to catch the last bus before the price increase, you need to plan and implement it early.