Chinese investors who purchased real estate in Greece under the ongoing Golden Visa program are expressing their discontent with Covid-19-related travel restrictions which do no allow them to visit their properties or to complete visa procedures.
According to Greek media reports, the Sino-Hellenic Investors’ Confederation, which was launched earlier this year, said in a statement issued this month that it was receiving dozens of daily complaints by Chinese investors who have purchased property in Greece but have still not completed visa procedures and hold a “blue card” or only their contracts.
According to Michael Xia, the confederation’s president, there are currently 120 families of Chinese buyers who have already bought properties worth over 250,000 euros but cannot travel to Greece to address pending documentation or to enroll their children in Greek schools due to the coronavirus pandemic.
The confederation points to a 2015 foreign ministry emigration measure which covers such cases.
The confederation also sent a letter to the foreign and migration ministries and to the consulates in Greece and China requesting action be taken allowing buyers admission into the country. The statement underlines that the request concerns 120 investor families and 100 prospective buyers.
In its letter, the confederation is also calling for the implementation of the measure and the acceleration of procedures by Greek consulates so that those who have already started the investor visa process can travel to Greece as soon as possible.
Greece’s investor visa program has channelled more than 2 billion euros of foreign capital into the local property market since its launch in 2014, granting in the meantime, over 7,000 residence permits to non-Greeks, according to citizen protection ministry data.
Investors from China are at the top of the list accounting for 5,770 of the total 7,825 golden visas, the statement said.