The European Commission is calling on EU states to take immediate action on golden visa schemes as these "threaten security and facilitate corruption" particularly in view of the Russia-Ukraine war.
The Greek government announced that it is suspending the issuance or renewal of residence permits for investment purposes for citizens of the Russian Federation.
Members of the European Parliament are calling for a ban on the so-called “golden passport” schemes, which they say “pose several serious security risks”.
The Greek government’s investor visa scheme is reviving Greece’s property market with hundreds of new permits issued during the first ten months of 2021.
Greece’s golden visa program has seen an impact due to the Covid-19 pandemic with the number of visas and residence permits having dropped significantly since the start of 2020.
A series of changes and revisions on EU rules for short-stay visas have gone into effect in efforts to tighten security, and facilitate tourism and trade.
Greece has announced a non-dom program that foresees offering foreign nationals the chance - by investing in Greece - to avoid paying taxes in their own country.
