The so-called golden visas have been found to be paving the way for criminal activity, according to a report released by Transparency International and Global Witness.
Citing security risks, the European Commission is urging member states to restrict issuing investor visas to non-nationals, with plans to publish new regulations in September.
Interest for high-end properties on the Greek islands of Mykonos, Santorini, and Paros is peaking this summer, according to an annual report released by Algean Property.
Greece’s property market appears to be recovering thanks to returning confidence and to increased tourism which is propelling demand for holiday homes.
In efforts to attract investments to Greece, the economy ministry has made five revisions to an omnibus bill set to be voted on in parliament on January 15.
Development of the delayed multi-million-euro Hellinikon project is moving ahead “one step at a time", according to Deputy Economy Minister Stergios Pitsiorlas.
Canadian mining company Eldorado Gold said it has temporarily postponed its decision to suspend operations in Greece after having entered “constructive dialogue” with officials.
Greece’s growth rate was lower than expected, up by 0.8 percent in the second quarter of 2017 from 0.4 percent in the previous quarter, the Hellenic Federation of Enterprises (SEV) said.
Executives of the Hellenic Capital Market Commission and the Athens Stock Exchange will visit Beijing to present the advantages of the golden visa program to Chinese investors.
Greece’s investor visa program is paying off, boosting state coffers by approximately 1 billion euros, Deputy Economy Minister Stergios Pitsiorlas said.
The Greek economy ministry will expand the investment visa program to include extending "gold visas" to foreign nationals investing at least €250,000 in bonds/shares.
Investors from China benefited most from Greece’s golden visa program which offers 5-year residency rights in return for investments over 250,000 euros.
