Golden Visa Program: Chinese ‘Dominate’ Plan with Over 50%

Chinese investors appear to be dominating Greece’s Golden Visa Program, a residence-by-investment scheme launched in 2013 enabling non-EU nationals and their family members to secure permanent residence permits in Greece based on the amount of cash they invest in Greece.

The Ministry of Migration and Asylum released data indicating that Chinese nationals have the lion’s share with 54.7% of applications submitted during the 12 months from August 2023 to August 2024.

Interestingly, Turkish nationals occupy the second spot, with 8%, while a significant uptick from Brits and Americans has been recorded over the 12-month period.

American investors are in seventh place on the relevant list, while investors from Israel now hold 271 permits, with the latter apparently seeking security through the Golden Visa program due to the ongoing conflict in the broader Middle East region.

Real estate market experts in Greece believe that significant delays in the approval process for existing permit applications have limited the numbers.

They add, however, that despite these delays, the number of applications is expected to rise considerably in the coming months.

Greece updated the requirements for applications on August 31st, raising the minimum threshold from 250, 000 euros to 800,000 euros in some regions.

Source: tovima.com