Chinese and Turkish nationals are the biggest groups applying for a Greek Golden Visa which happens to be one of the most popular investment visa programs in the EU.
According to the Greek Ministry for Migration and Asylum, in 2021 some 6,405 Chinese nationals and 618 Turkish nationals had been granted residency permits through the Golden Visa programme.
Introduced in 2013, the Greek Golden Visa program offers residency to non-EEA nationals in exchange for specific direct investments in real estate or financial instruments, as an incentive to attract international capital flows. The program originally required a minimum investment of €250,000 in real estate or €400,000 in securities or a bank deposit in Greece. The investors' close family members also receive a residence permit without further investment requirements, including their spouse, children up to 21 years old, parents and parents-in-law.
By February 2023, the country had issued 10,105 residence permits to investors and 18,154 to their family members. On 23 December 2022, the golden visa program was changed, setting the 5 year visa at a minimum of €500,000 for real estate investments in specific areas of the country, coming into effect on 1 August 2023.
Golden Visas issued by the EU Member States such as Greece are especially coveted, as they may eventually lead to citizenship and thus access to the EU.
The Greece Golden Visa offers immediate five-year residency to the investor as well as their immediate family members, as well as free travel in the Schengen Zone.
