Greece’s Golden Visa Scheme Boosts Economy by Nearly €1bn in Jan-May
Greece’s golden visa program boosted the country’s economy by almost 1 billion euros in the first five months of the year, benefiting from Portugal’s decision to discontinue its own residence by investment scheme and by Greek authorities’ decision to delay an increase in the threshold.
More specifically, according to the Migration & Asylum Ministry, a total of 3,900 applications for the purchase of real estate for residence were submitted in the January-May period compared to 1,444 in the same period last year while properties worth 975 million euros were sold off – up by 170 percent or three times higher than last year’s total of 361 million euros.
The growing interest in Greece’s residency by investment program is placing pressure on authorization authorities with more than 5,444 investor visa applications awaiting approval. Indicative of the demand, in the May 2022-May 2023 period, a total of 8,351 investor visa applications were submitted to Greek authorities, 35 percent of which approved.
In the first five months of 2023, 1,938 applications were approved compared to 777 in the year-ago period – up by 149%. In May, 412 permits were issued over 220 in 2022.
Greece’s decision to push back to August 1, 2023, the increase in the investment limit from the current 250,000 euros to 500,000 euros for certain areas has boosted demand the golden visa.
American citizens support Greece w aid, why do we have same visa requirements as Syria and others who don’t help Greece???
What does aid have to do with visa ?
America stole Iraq’s oil so the citizens should be allowed in the US?
each matter different rules.
Visa rules usually are mutual for both sides. What your country allows them, you are going to be allowed from them.
What looks a good decision for the country, it is going to turn up in the same mess that Portugal is at the moment. Lisbon and Porto do not have houses/apartments in a price that locals can pay. We already can see this in some Athens area. What the article does not say, is HOW MANY OF THESE PROPERTIES ARE IN THE COUNTRY OR CITIES? It is ridiculous to pay 400 euros in a 26sq in Pagrati because of Golden Visa Scheme! sad!