The government of Greece is planning to raise the investment requirement for the "golden visa" program to 800,000 euros ($861,520) for real estate in high-demand cities and islands, announced Prime Minister Kyriakos Mitsotakis on Friday.
The golden visa initiative, which started in 2014, offers foreigners a five-year renewable residence permit in Greece in exchange for a property investment of 250,000 euros. Mitsotakis stated that discussions with the finance minister are currently underway to finalize the proposed increase.
Greece has issued approximately 17,500 golden visas since 2018, with Chinese citizens accounting for 61% of recipients. In addition to residency, these visas enable travel within the Schengen zone of Europe.
