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03 February, 2023
 
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Americans show more interest in Greece's golden visa program

The minimum amount of investment required for the issuance of such a visa is a total of €500,000

Source: Schengen Visa Info

Americans’ interest in Greece’s Golden Visa program has marked a significant increase recently, according to the latest report of real estate experts Berkshire Hathaway HomeServices.

A recent report provided by property brokers Traino showed that Greece is among the top-five Residency by Investments programs that attract international investors the most.

The same source has revealed that the Hellenic Republic is among the top countries for international buyers, SchengenVisaInfo.com reports.

“We’re expecting a strong resurgence of interest from abroad in buying and renting real estate in Greece, especially with regard to luxury holiday homes at popular tourist destinations and on islands in the Cyclades, on Crete and Corfu,” managing partner Berkshire Hathaway HomeServices Athens Properties, Kyriakos Xydis, pointed out in this regard.

The report has emphasized that Greece has many factors which attract citizens of the United States to invest in this country, such as the quality of life, friendlier taxation, and temperate climate, as well as the cost of living.

Recently, Greece’s Prime Minister of Greece, Kyriakos Mitsotakis, presented new changes to the Hellenic Republic’s Golden Visa scheme. Among the new changes was the increase of the minimum amount of investment required for the issuance of such a visa to a total of €500,000.

The Minister confirmed the new changes to the country’s Residency by Investment program, while he stressed that the decision to increase the minimum amount of investment came in order to increase the affordability of real estate for the Greece Republic.

Through the Residency by Investment program, internationals are eligible to acquire residency in the Hellenic Republic, provided they meet specific conditions and make a financial contribution of at least €500,000 to this country.

Previously, foreign nationals were eligible to acquire residency in this country by only making an investment of at least €250,000; however, wealthy internationals are now subject to new rules after authorities in Greece decided to increase the minimum amount of investment.

“In order to increase the affordability of real estate for Greeks, we are now increasing the minimum amount of investment required for the issuance of a golden visa from €250,000 to a total of €500,000 (£434,000, $500,000),” Greece’s Prime Minister pointed out in this regard, according to a report provided previously by International Adviser.

A recent report provided by property brokers Traino showed that Greece is among the top-five Residency by Investments programs that attract international investors the most.

However, despite the fact that the Hellenic Republic’s Golden Visa program contributes significantly to the country’s economic sector, it has often been criticized for being an open door to many unlawful affairs, such as corruption and money laundering.

TAGS
Cyprus  |  USA  |  visa  |  passports

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