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.
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.
Information: Golden Visa programme webpage
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