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Russians, Chinese, Turks obtain Greece’s Golden Visa investing €1bn in real estate

Foreign nationals have invested €1.1 billion to purchase Greek real estate under Greece’s “Golden Visa” program. Since the program’s inception in 2013, 1,725 golden visas have been issued, entitling investors and their families to five-year residence permits in Greece. The “Golden Visa” program entitles national form third countries, i.g. outside the European Union, to receive a 5-year residence permit if they purchase real estate worth at least 250,000 euros.
In 2017, 464 nationals from non -EU countries received the Golden Visa.
According to data from Enterprise Greece, the majority of Golden Visa investors are from Russia, China and Turkey.
Residence permits have received also the members of the family’s investors with the effect that the total number of Golden Visa beneficiaries to be estimated at 2,048 people.

According to the report, investors outperform the limit of 250,000 euros, as the average cost of their purchases is estimated at 550,000 to 600,000 euros. This means they prefer luxury properties and luxury summer houses.

According to the same report, most investors buying real estate in Greece come from China. Ath the same time, there has been a recent sharp increase of Turkish citizens who seek the Golden Visa, probably due to the political situation in the neighboring country.

In detail: Country of origin and Residence permits

– China  850 residence permits

– Russia 388 residence permits

– Turkey 161 residence permits

– Egypt 98 residence permits

– Lebanon  85 residence permits

– Ukraine  73 residence permits

– Iraq 62 residence permits

– Syria 48 residence permits

– Jordan 46 residence permits

– Saudi Arabia 18 residence permits

– US 18 residence permits

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3 comments

  1. Martin Baldwin-Edwards

    Syriza must be proud of their radical left agenda, giving long-term residence permits to those with more than half a million euros to spend in Greece. Real socialism in practice!

  2. Come on Martin, you know socialism’s number one mantra; live off the rich!

    It was thatcher that said with socialism the main problem is that you eventually run out of other peoples money!

  3. Martin Baldwin-Edwards

    @Syrizee: Thatcher stole more of other people’s money than any socialist did, when she privatised public services and public property — making the poor pay for it while her rich friends bought up the UK on the cheap.

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