Citizenship by Investment - The Golden Visas

The government is even talking about creating a new citizenship by investment program that lets investor migrants become citizens of an EU country much more quickly. That would put it in direct competition with Cyprus for investor migrants. If Greece offers a citizenship by investment program, you would likely see the total number of applicants increase even further,” says Chmiel.

The real estate executive adds that the long-term outlook for Chinese investment in Greek residential real estate is positive.

“There is strong Chinese demand, driven by the investment visa, lifestyle, relatively affordable prices, and the prospects of good returns as the Greek economy recovers. Many Chinese have a great deal of faith in Greece and are investing in what they think will be a prosperous decade in the 2020s.”

Greece is now one of the most heavily enquired countries for Chinese buyers.
In terms of buyer interest, the country ranks as the ninth most popular country in the world for the Chinese.

Its residency for investment scheme, also known as the Golden visa, is driving this interest. Non EU nationals are eligible for a residency permit in Greece after investing at least 250,000 euros in property. When compared with other Golden Visa programs in Europe, Greece's plan is among the cheapest.

"Chinese buyers have seen the opportunities to buy stunning Mediterranean homes at a time when the Greek real estate market has probably bottomed out. More importantly, the growth in demand in Greece is a reflection of the popularity of that country’s citizenship by investment programme," says Juwai.

The latest data shows that Greece has issued some 4,100 residency permits since the Golden Visa program started in 2012. In addition to the Chinese, buying interest from non EU nationals is also coming from Russian and Turkish investors.
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