Nationals of China and Turkey account for the largest number of applications filed for Greece’s Golden Visa Program.
About 6,405 nationals from China and 618 nationals from Turkey were granted residency permits through the Golden Visa Program in 2021, based on the figures of the Ministry of Migration and Foreign Affairs of Greece.
The statistics from the Ministry reveal that the top five nationalities for Greece’s Golden Visa are the following ones:
- China- 6,405
- Turkey – 618
- Russia- 596
- Lebanon- 250
According to the figures provided by the same source, in February 2023, a total of 10,105 residence permits to investors were issued, as well as 18,154 to their family members.
The Residency by Investment Program, known as the Golden Visa Scheme, allows internationals to acquire residency if they invest in the Hellenic Republic financially and meet some specific conditions.
In August this year, the country decided to increase the minimum amount of money required for the Golden Visa Program from €250,000 to €500,000 in specific parts of the country.
Such a decision was confirmed by the Prime Minister of Greece, Kyriakos Mitsotakis.
In order to increase the affordability of real estate for Greeks, we are now increasing the minimum amount of investment required for the issuance of a golden visa from €250,000 to €500,000 (£434,000, $500,000).
Such changes include the Northern part of Greece, the central and southern sectors of Athens in the Attica Region, as well as the islands of Mykonos, Santorini, and the Municipality of Thessaloniki.
Greece’s Golden Visa Program is among the most popular investment programs in Europe. Statistics from the Migration and Asylum Ministry revealed that in the first five months of this year, the program brought €1 billion to the country.
The same Ministry showed that 3,900 requests for the purchase of real estate residences were received by authorities in the Hellenic Republic for a period from January until May this year, in comparison to 1,444 registered in the same period last year.
According to the data provided by the Ministry, from May last year until May 2023, a total of 8,351 investor visa applications were submitted to authorities in the Hellenic Republic; of them, 35 per cent were approved.
In spite of attracting a large number of internationals and contributing to economic growth, the Golden Visa Programs offered in European countries are often criticised for being involved in irregular affairs.
