Greece’s World-Leading Growth Has Given Golden Visa Investors Fantastic Returns
Christina Georgaki of Georgaki & Partners
IMI Official Partner
The Economist has ranked Greece’s economy as the best performing worldwide for a second year running – a testament to Prime Minister Kyriakos Mitsotakis’ pursuit of recovery and growth.
Greece’s economy outperformed even the optimists’ expectations, and the country sits atop the charts ahead of the likes of economic superpowers such as the US, Japan, China, Germany, and many more.
The Economist’s index, which bases its ranking on GDP change, stock market growth, employment rates, and inflation breadth, is a precise tool that helps investors assess a nation’s economic fertility, and those who have invested in Greece recently can attest to the nation’s astonishing performance.
Triumphing Over the Golden Visa Competition
Greece’s performance is of particular importance to prospective investor migrants. The country’s fortunes contrast starkly with its competition in the EU, namely the Portuguese Golden Visa.
According to the Economist, core inflation in Greece was lower than that of both Portugal and Spain. While inflation breadth, “a measure that calculates the share of items in the consumer-price basket where prices are rising by more than 2% year on year,” in Greece was negative 13.3%, compared to Spain, which was a positive 13.3%, highlighting the different economic trajectories of the nations.
But it is in the stock markets that Greece’s overachievement truly takes the limelight. Greece’s stock market topped the growth charts by far last year, sitting at a staggering 43.8% growth rate, nearly double second-placed Poland (24.4%) and vastly beyond Portugal (1.3%) and Spain (14.6%).
This metric becomes more relevant once you factor in the Greek Golden Visa’s €400,000 investment option in Greek shares. Considering the rapid and unwavering growth, investing in Greek shares may be the best residency by investment asset worldwide, not just in the EU.
Based on current statistics, no other asset – other than active investments, probably – can match Greek shares in terms of potential returns, either arbitrage gains or dividends, and it is a trend set to continue under the current Greek government.
The past few years saw the Greek and Portuguese Golden Visas compete on a similar level, but now things are different. Changes to the Portuguese Golden Visa have made the program far inferior to the Greek one, and the different trajectories of the countries’ economies play in Greece’s favor.
Among all the Golden Visas, Greece has a superior program in terms of framework, processing times, and affordability, and now the destination itself is on an upward path while the others are still figuring things out. Greece is the ultimate option.
Stability And Harmony
Another important factor that puts Greece atop the Golden Visa list is its government. Prime Minister Kyriakos Mitsotakis has led the line admirably, and his re-election along with a majority government means that his plans for sustainable, expedited economic growth can continue in earnest.
The majority government is here to stay for another three and a half years, and with Mitsotakis having laid the foundations in his last term, he is now planning on intricately executing the remainder of his plan to situate Greece among the world’s most influential economies, further stabilizing it from within and growing it on the global stage.
Mitsotakis’ past achievements speak for themselves, and now that he has the time to fulfill his plan, it is the optimal moment for foreign investors to get in on the action.
The stability and potential of Greece’s government create a unique opportunity for investors to get a Golden Visa through a solid investment in the world’s best-performing economy. Chances like this do not come often.
To know more about investing in Greece and how to obtain a Golden Visa, contact Georgaki Law via our website or contact our Managing Partner Christina Georgaki directly via email at c.georgaki@georgaki.com