The Golden Visa program, which grants residency permits to foreign investors who invest in a country, has become a popular trend in Europe in recent years. Many countries, including Greece, have implemented successful programs that have attracted significant foreign investments. However, Portugal, one of the most popular Golden Visa destinations in Europe, has recently announced the closure of its program.
Greece’s Golden Visa program has been particularly successful in recent years, with a significant increase in applications in the last quarter of 2022. The benefits of the program include the ability to travel freely within the Schengen Area and access to Greek public services. The program has been an important driver of foreign investments in Greece, with a focus on real estate, infrastructure, and tourism.
Portugal, which has been one of the most popular destinations for the Golden Visa program, has recently announced the closure of its program. The decision has been met with surprise and disappointment from the international community, as the program has been a significant driver of foreign investments in Portugal. The program, which has been in place for almost a decade, has generated over €5 billion in investments for Portugal. The Portuguese government has stated that the decision to close the program was made to focus on other aspects of economic growth.
The success of Greece’s Golden Visa program, in contrast to Portugal’s closure, highlights the importance of foreign investments for the economic growth of a country. Greece’s focus on real estate, infrastructure, and tourism has made it an attractive destination for foreign investors, with the Golden Visa program serving as a key driver of these investments.
The closure of Portugal’s program serves as a reminder of the importance of foreign investments for the economic growth of a country. As Greece continues to focus on real estate, infrastructure, and tourism, it is likely that the Golden Visa program will continue to be a key driver of foreign investments in the country.
As the global economy continues to evolve, investors are constantly seeking new opportunities to expand their portfolios and diversify their holdings. One of the most popular investment opportunities in recent years has been the Golden Visa program, which allows foreign investors to obtain residency permits in exchange for investments in a host country.
While there are several countries in Europe that offer Golden Visa programs, the Greek program stands out as a particularly attractive option for foreign investors. There are several legal and economic advantages of the Greek Golden Visa program compared to other countries that offer similar programs. Here are a few key points:
Lower Minimum Investment Requirement: The minimum investment required to obtain a Golden Visa in Greece is €250,000 (with the exception of the Regions of Athens, Santorini & Mykonos as well as the Municipality of Thessaloniki €500.000), which is significantly lower than the minimum investment requirements in other countries, which require investments of at least €500,000.
Fast Processing Time: The Greek Golden Visa program has a relatively fast processing time, with residency permits often issued within 30-60 days. This is faster than some other European countries, which can take up to six months or longer to process Golden Visa applications.
No Physical Residency Requirement: One of the unique advantages of the Greek Golden Visa program is that there is no requirement for physical residency in Greece. This means that investors can obtain a residency permit without having to spend a certain amount of time in the country each year.
Schengen Area Access: Like other Golden Visa programs, the Greek program allows investors to travel freely within the Schengen Area, which includes most of Europe. This can be a significant advantage for investors who want to travel within Europe for business or personal reasons.
Strong Economic Growth: Greece has experienced strong economic growth in recent years, and the government has made significant efforts to attract foreign investment.
This has created a favorable environment for investors and has made the Greek Golden Visa program an attractive option for those looking to invest in Europe.
Diverse Investment Opportunities: Greece offers a range of investment opportunities for Golden Visa applicants, including real estate, infrastructure, and tourism. This diversity can be an advantage for investors who are looking to diversify their investment portfolios.
In addition to these advantages, recent reports have highlighted the significant growth in Greek Golden Visa applications in the final quarter of 2022, indicating a rising interest from investors worldwide. Meanwhile, Portugal has recently announced that it will be closing its Golden Visa program in its entirety, which may lead to increased demand for alternative programs such as Greece.
If you are interested in learning more about the Greek Golden Visa program and how it can benefit your investment strategy, be sure to speak with us !
At Amoiridis Law Services® we are dedicated at assisting our well-respected clients successfully complete any of their investment projects in Greece. Thanks to our longstanding experience, we are able to provide a full package of consultancy services to our almost exclusively international clientele, customized to their specific needs.
As a result, we have represented clients from all around the globe regarding their projects in Greece. Our network of associate experts, composed by both in-house and external solicitors, notaries, accountants, tax experts, currency exchange experts, realtors etc., enables us to provide an all-in-one package of consultancy services, guiding you through the ways to properly protect your investments.
For any further information and clarifications please do not hesitate to contact our qualified legal team, ready to provide you with further personalized information tailored to your needs and your profile.
For any further information and clarifications please do not hesitate to contact our qualified legal team, ready to provide you with further personalized information tailored to your needs and your profile.
You can email us: or call/text us directly at: +306908351705 (WhatsApp/Viber)
Athens, February 2023
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