A third of real estate in Greece is bought by those wishing to obtain a “Golden Visa”

A third of real estate in Greece is bought by those wishing to obtain a Golden Visa

According to a study conducted in Greece, a large number of properties were purchased at double or even triple the price to meet the minimum investment threshold of 250,000 euros.

Recently, Greek Prime Minister Kyriakos Mitsotakis announced that the country plans to increase the minimum investment required for the issuance of the Golden Visa. from the current €250,000 to €500,000.

“In order to increase the affordability of real estate for Greeks, we are now increasing the minimum investment amount required to issue a Golden Visa from €250,000 to €500,000.” ;, — said the prime minister in September.

After the increase in the minimum financial threshold was announced, the demand for the Greek Golden Visa program has skyrocketed. increased by a total of 290 percent.

During the five years of the — from 2014 to 2019 — Hellenic Republic Authorities Approve 20 Percent of Golden Visas from all issued in the European Union. This equals 10 percent of budget revenue.

Most investors come from the following countries: China, Turkey, Lebanon and Egypt.

The Golden Visa Program allows foreign citizens to obtain a residence permit in European countries, provided that they meet certain requirements and invest funds.

The Greek program is one of the most accessible and popular.

Except for Greece, Portugal, Latvia, Spain and Montenegro have similar programs.

 Portugal has only recently expanded the issuance of visas for investment — in September of this year, it issued 120 Golden Visas. Their owners were mostly US citizens.

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