Enterprise Greece Lures China Investment with Residence Permits
In its latest inventive approach, Enterprise Greece is drawing in prospective Chinese property buyers by offering to issue residence permits to those investing over 250,000 euros, in efforts to boost the flailing real estate market and attract foreign investment.
Enterprise Greece (former Invest in Greece), the official Investment and Trade Promotion Agency of Greece under the supervision of the Ministry for Development and Competitiveness, promotes and facilitates private investment and export trade.
The company promoted its new plan titled “Greece, My Residence”, which is backed by the development and interior ministries, on a recent visit to Guangzhou and Hong Kong. Enterprise Greece participated in the 5th Guangzhou International Quality Lifestyle & Property Expo, where it introduced its latest program to Chinese investors through presentations and meetings with interested parties. The delegation also met with immigration authorities and other decision-makers.
While in Hong Kong, the delegation took part in the “Investment Immigration Summit – Hong Kong 2014”, where it presented the initiative to a target audience in a workshop titled: “In Conversation with Greece: In-depth Opportunities in Investment and Residency Revealed”.
The Greek mission also presented the plan at an event aimed at banking and business executives jointly organized by Enterprise Greece and the European Chamber of Commerce titled “Breakfast Seminar – Greece 2014: Realizing the Potential”.
During the seminar, Enterprise Greece CEO Stefanos Isaias underlined the opportunities in Greece for foreign investors and referred to the champions of the Greek economy: tourism, property, F&B, energy, exports, ITC technologies and health sciences.
“The first signs of the implementation of ‘Greece, My Residence’ and the comparative data in relation to respective programs in other European countries were encouraging,” Mr. Isaias said.
“The contacts we have made both in Guangzhou and Hong Kong confirmed investors’ strong interest in Greece’s housing market as well as in the accompanying privileges.”
Mr. Isaias added that Chinese immigration offices have already given the Greek package priority and that Enterprise Greece, in collaboration with the private sector, will continue to promote the program to foreign markets.