A total of 9,478 golden visa applications are being reviewed by Greece’s Migration and Asylum Ministry, with a total of 6,228 submissions registered in just last year.
The Ministry’s figures show that the increase in the minimum amount of money required for golden visa investments has not affected the high demand for this program, SchengenVisaInfo reports.
According to statistics from the Migration and Asylum Ministry, there was a surge in the number of new applications in the first two months of this year, with 1,299 more applications compared to the previous year. Simultaneously, 664 visas were approved.
The figures reveal that Greece is among the top favourite countries in the world for obtaining an investment visa.
In addition, statistics from the Migration and Asylum Ministry revealed that last year, a total of 4,444 visas were accepted, resulting in real estate transactions worth €1.1 billion.
For a period from 2021 to 2023, the Golden Visa Program of Greece has brought 7,387 international investments, thus contributing to the country’s economy with a total of €4.3 billion.
According to the Ministry, among the real estate buyers are nationals from China, Turkey, Lebanon, Iran, Egypt, the United Kingdom, the United States, Russia, Israel and Ukraine.
Greece Announced New Rules for Golden Visa Investments
Nationals from other countries are eligible to benefit from Greece’s Golden Visa scheme by making a financial investment. By doing so and meeting the needed requirements wealthy foreigners are eligible to acquire residency in the Hellenic Republic.
Earlier this year, the Ministry of Finance announced new rules for the Residency by Investment Scheme which consisted of two types of zones for Greece:
Tier 1(€800,000): It consists of real estate investment in the zones of Attica, Thessaloniki, Mykonos, and Santorini, as well as the islands whose population exceeds 3,100.
Tier 2 (€400,000) It consists of all other territories of Greece. The main purpose is to attract investment in a wider range of areas.
The requirement for both tiers is that investment should be made in a single property of at least 120 square metres.
In April this year, authorities in Greece announced that foreign investors will be able to benefit from the Residency by Investment scheme through the option of purchasing a property under the prices that are currently effective until August 30.
Besides, authorities in this country also confirmed that there will be a transition period to ensure a smooth transition to the new changes.
