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Greek citizenship to third-country nationals investing €2mn in properties

The Greek government plans extra incentives to attract big scale foreign investors from non-EU countries: The trade is Greek citizenship in return for real estate investment worth at least 2 million euros.

According to information by daily kathimerini, Greek citizenship and Greek passports will be available to third-country nationals acquiring real estate in Greece of at least 2 million euros.

Greek citizenship may also be granted to a third-country national even if he has acquired the property of this value through a legal entity provided that the shares and the shares are wholly owned by him.

“The investor must become a permanent resident of Greece with a real estate property valued at 500,000 euros and pay at least 50,000 euros annually for maintenance costs,” the daily notes.

In an effort prohibit fraud, the guidelines will include investor’s obligation to pay the full price of the real estate when signing the contracts. The price will be paid through a bank cheque or bank transfer.

In addition and in the context of this scheme, it is planned to set a limit of 200 naturalizations permitted for each year.

It is not clear when the relevant legislation will come into effect.

PS I suppose the aim of this scheme is to get rid of the villas confiscated by the state and the banks from the rich Greek debtors – or the middle class devils who saw themselves unable to pay their debts.

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5 comments

  1. Best way to invite corruption and illegal undesirables……same as Spanish South coast Marbella….no one ever knows who own what and crimes like movies….

  2. Bakoyanni Pizzatakis

    So Greece is now officially a money-collecting whorehouse — selling Greek citizenship to anyone with more than 2m euros. We can look forward to international mafia buying up entire streets, and pushing up rents to unaffordable levels as has happened in London. Bravo, ND: you’re managing to sink lower than Pasok, former ND governments and Syriza.

    What Next? Perhaps you could auction off parts of the Akropolis, or sell museum artefacts to rich tourists. Even better, why not sell all of Greece to Turkey?

  3. how about for every new passport issued under this scheme one PM or cabinet minister loses his citizenship? nice one to one exchange? and if they happen to let them in quickly enough that they run out of politicians, well, that might still work out positively…

    • nope bc everything that you are worried about will come true. Who will filter out the unwanteds without officials? Duh! And as a Greek Orthodox which I KNOW you are with the dimunitive name handed down to you from Ottoman occupation in Crete, you should love like Jesus loved all those you labeled unless you are a Kazantatzaki fan and demote Jesus as well to a mere mortal. Touche? touche

  4. Best way to attract what Aristotle taught Alexander, the love of the ideal, motivated citizen/hellophile and ignite some competition.