Since 2014, Greece has introduced “Greece-My Residence” a very favourable golden visa programme which applies to all non-EU citizens who purchase a property in Greece (law 4251/2014). According to the latest official report, issued by the Minitstry of Migration Policy, Chinese citizens exploited more than everyone else the "Greek Golden Visa" program which offers residency permits to third country citizens and their families when investing more than 250,000 euros on real estate properties or other investment activity in Greece. By January 31, 2017, a total of 1,573 residency permits have been offered to real estate investors, of which 664 from China, 348 from Russia, 77 from Egypt, 73 from Lebanon and 67 from Ukraine.
In 2015, the Greek parliament approved the new immigration law (law 4332/2015) that introduces more benefits to investors of real estate with value more than 250,000 euros. According to that law: as long as the investors hold the ownership of the property, the residence permit is permanent and it is renewed every five years. Investors and their spouses may apply for citizenship after a 7-year stay in Greece. Their children may apply if i) they have attended for 9 years a Greek school, or ii) they have attended during 6 years a Greek secondary school, or iii) they have attended a Greek University. The right for residence permit is extended also to the direct ascendants of the investors.
Why Greek Golden Visa
Golden visa programme allows non EU-citizens to enjoy the benefits and security of a residence permit and a Mediterranean lifestyle that is unmatched. Compared to Spain or Portugal, Greece has the competitive advantage of the lower investment threshold with the minimum investment budget in Europe. Furthermore, real estate prices in Greece are much lower than they used to be, creating great investment opportunities for buyers who wish to lease or resell their property. Connected with 39 airports including 15 international, Greece is 1 to 4 hours from all major European cities. Purchasing a property in one of Greece’s exciting urban hubs near the seaside or on one of Greece’s spectacular islands or in a mountain retreat with unspoiled nature, has never been more attractive and simple for non EU-citizens. They may get any EU-visa in their country of citizenship and visit Greece.
You can download here a Brief Guide to Residence Permits for investment activity in Greece, edited by Enterprise Greece, in the following languages: English, Greek, Chinese, Russian and Arabic.