Golden visa applications for investment in Greece very low

Only 1,573 issued since 2013

A total of 1,573 Golden Visas had been issued to 3rd country nationals on January 1s 2017, according to Enterprise Greece, the organisation responsible for running the Golden Visa program. The program allows non-EU citizens and members of their families extended visa stays in Greece under the condition they invest over 250,000 euros on property or other activities. China with 664 permits, followed by Russia (348), Egypt (77), Lebanon (73) and Ukraine (67) made up the list of the top country citizens. The numbers are considered low, given the fact that the program to boost foreign investment has been running since 2013. In an effort to make the plan more effective market professional in the market involved in the promotion of the program with Deputy Minister of Economy and Development Stergios Pistiolas to explore news methods to enhance the plan and improve its effectiveness. Some of the proposals discussed during the meeting included limiting red tape for those interested in applying, as well as lowering the 250,000-euro condition to 200,000.