Greece has always been a popular immigration destination for Chinese investors due to its low investment threshold. The Greek Parliament recently passed a new immigration law that expands the eligibility for Greece’s Golden Visa program. Applicants can now obtain residency permits through various investment methods such as real estate, company shares, government bonds etc. The minimum real estate investment amount remains at €250,000. With the new law, Greece further opens its doors to attract foreign investment and talent. The long-standing real estate investment path to residency is still the most cost-effective option. Chinese investors should act quickly to take advantage of the low investment amount before policies tighten.
Real estate investment remains the most popular path to Greece Golden Visa
The Greece Golden Visa program was launched in 2013, requiring a minimum €250,000 real estate investment to obtain residency rights. Thanks to its low investment threshold, Greece has attracted numerous Chinese investors over the years. According to Enterprise Greece, China made up over 50% of successful applicants in 2018. Under the new immigration law, real estate investment is still the most straightforward way to obtain residency rights in Greece.
New investment options provide more flexibility
The new law adds several investment options to qualify for the Golden Visa program, including investing €400,000 in company shares, government bonds, bank deposits etc. While the requirements are higher than real estate investment, these options provide more flexibility for investors seeking residency rights in Greece.
Policies likely to tighten amidst concerns over Golden Visa
In recent years, the EU has expressed concerns regarding the risks of money laundering associated with Golden Visa programs. There are signs that immigration policies will tighten, such as Cyprus canceling its Golden Visa program. As Greece still welcomes investment, Chinese investors should act quickly to take advantage of the current low real estate investment amount before policies change.
Greece provides high quality of life and access to the EU
Greece is renowned for its high quality of life, rich cultural heritage and natural beauty. A Greek residency offers freedom of movement within the Schengen Area. While new investment options provide more flexibility, real estate remains the most cost-effective path to residency rights in an EU member state.
The new Greek immigration law expands investment options for residency rights, but buying real estate is still the most popular path for Chinese investors. With expected policy changes, investors should act quickly on the real estate route before requirements increase.