New Rush For Greek Golden Visas As Minimum Investment Required Doubles To €500,000
A new law raising the minimum value of property required for Golden Visas in Greece has sparked a rush of foreign investment.
The Greek golden visa program is one of the most popular in Europe.getty The new minimum value at the time of purchase will apply to a single property in the northern section of the country, the central and south sectors of Athens in the Attica Region, the islands of Mykonos and Santorini and the Municipality of Thessaloniki. The previous minimum value of EUR250,000 will be maintained for the rest of the country. The 'Residency by Investment', or Golden Visa scheme, permits third-country nationals to acquire residency in Greece provided they invest in real estate and meet specific conditions. MORE FROM FORBESPortugal Likely To End Its Coveted Golden Visa ProgramBy Cecilia Rodriguez Mitsotakis added that the new amendments are intended to make real estate more affordable for Greek citizens. The Golden Visa is issued within two months of submitting the application and additional supporting documentation. The Acropolis of Athens and the old town of Plaka in the center of Athens, one of the most sought ... [+] areas by foreign investors.getty ... [+] getty Best Golden Passports And Visas Programs: Malta And Portugal Top 2022 ListBy Cecilia Rodriguez It serves as a 'golden' opportunity to invest in Europe and derive expedited residency privileges. Many such visas are a fast-track route to citizenship, rendering the overall process easier. member countries, it's often been criticized by Union officials as opening doors to illegal activities including money laundering and corruption.