Greece's Golden Visa Program Attracts Surge in Foreign Investment

08:00 3/10/2024 - Πηγή: iEfimerida

Greece's Golden Visa program has witnessed a significant uptick in interest from foreign investors, particularly from the United Kingdom, the United States, and Israel, over the past year.

The program, which grants permanent residency to foreign investors who make a minimum investment in Greek real estate, has proven

increasingly popular amid geopolitical instability and the allure of a Mediterranean lifestyle.

According to official figures from the Ministry of Immigration and Asylum, the number of initial permanent investor permits issued has surged dramatically.

British investors, for instance, have seen a 51% increase in permits since last August, securing a total of 482. This places them fifth on the list of countries with the most Golden Visa recipients, just one permit behind Iran.

American investors have also shown a strong interest, with a 47% increase in permits over the past year. Israeli investors, however, have experienced the most significant growth, with a 70% surge in applications.

The surge can be attributed in part to the ongoing geopolitical tensions in the Middle East, making Greece an increasingly attractive destination for those seeking safety and stability.

The United Kingdom's exit from the European Union has also played a role in driving British investment in Greece's Golden Visa program. Many British buyers of holiday homes are now combining their property purchases with applications for residence permits, attracted by the additional benefits of unrestricted travel within the EU.

Beyond the purchase of high-quality and affordable property, the Golden Visa offers several significant advantages to investors.

The permit allows holders and their family members to enter and exit the European Union freely, providing a sense of security and flexibility.

This, combined with the allure of Greece's Mediterranean lifestyle and strong economy, has made the Golden Visa program a compelling option for foreign investors seeking a new home or investment opportunity.

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