The Investment Migration Knowledge Platform
Greek property just got a whole lot cheaper. The new government has declared it will not collect VAT on real estate investments for the next three years.
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Greece has put plans for the EUR 400,000 share, bond, and deposit options on ice as it braces for a snap election on July 7th.
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Rules requiring golden visa investors submit files in the municipality where they bought the property had seen Athens appointments fully booked until 2021.
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On an annualized basis, this equates to an 8% drop in main applicants, but a 35% increase in total visas, indicating prodigious family size growth.
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Mahmoudi maintains that Portugal has the world’s best golden visa. In response, Rozakis lists the reasons why that is not the case.
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Despite growing Chinese Chinese demand, approvals are down by a quarter on an annualized basis, and Iraqi and Iranian investors bring more than twice as many family members as those of other nationalities. First, a correction: Due to an error on the Enterprise Greece website, we have incorrectly reported golden visa statistics from Greece in
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Christian NesheimEditor No more POS sales, no more re-selling property to multiple golden visa participants. The Greek government is moving swiftly to close loopholes. The Greek government last week put forward amendments in Parliament that aim to prevent what they consider abuse related to the country’s residence by investment program. Measures include a ban
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Enterprise Greece has released figures indicating that, by the end of September this year, the country had issued residence permits to 3,404 main applicants and 5,495 dependents under the golden visa program since the start of the year. That’s an average of 989 residence permits a month in 2018. In September alone, 250 main applicants
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Three weeks ago we reported on a case in which a prominent Greek executive’s golden visa side-business had landed him in trouble with both Greek and Chinese authorities over what investigators say was systematic side-stepping of Beijing’s capital controls related to the sale of Greek real estate to Chinese investors. See: Greek Golden Visa Firm in
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For more than a year, Greek authorities have heralded plans to add further investment options to their Golden Visa. On Wednesday, Greece’s Minister of the Economy – Stergios Pitsiorlas – divulged further details. A new bill, already drafted, would add the following investment choices, beyond the €250,000 real estate investment, currently the program’s only option:
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Since the suspension of Canada’s federal Investor Immigrant Program in 2012 (and its complete closure in 2014), the world’s undisputedly most popular golden visa has been the US EB-5 program. That will change before this year is over. Tiny Greece, which has a population of 11 million and a land area that equates to only
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In the first half of 2018 alone, Greece issued nearly 3,000 golden visas – or the equivalent of all golden visas issued in Portugal over the last two years – bringing its grand total of golden visas issued since 2013 (main applicants only) to 8,367, leaving all its European competitors in the dust. When last
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It’s been more than a year since the Greek government first announced its intention to expand the investment options available under its Golden Visa program. In an amendment submitted to Parliament this week, the Ministry of Migration Policy announced plans to introduce a wide range of alternative asset classes from which prospective investor residents will
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Greek Minister of Economy and Development, Yannis Dragasakis, revealed this week that his office is preparing legislation that will widen the choice of investment types available to applicants under the Greek Golden Visa program, for which real estate is currently the only eligible investment category. An expansion of the investment selection has been on the
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If official statistics are to be believed (and, indeed, correctly interpreted), Greece’s Golden Visa program saw 2,305 main applicants and 3,394 dependents qualify for residence in the Hellenic Republic in 2017 alone, reveal fresh data from Enterprise Greece. Portugal’s Golden Visa program, by contrast, registered 1,351 main applicants and 2,678 dependents during the same period. While
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Europe’s third most popular residence by investment program – after those of Portugal and Spain – the Greek Golden Visa, saw 648 residence permits issued to investors in 2017, marking another record year for applications and bringing the cumulative number of golden visas issued to 2,170. Unlike its Mediterranean cousins, however, Greece’s program has recorded four
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Following eight consecutive years of decline, Greek residential real estate prices appear to be bottoming out. The country’s golden visa program can take much of the credit for putting the breaks on. Figures from the Bank of Greece reveal that, by the third quarter of 2017, home prices nationally had fallen by only 0.07% year
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Chinese investors are positively smitten by the Greek real estate market and its accompanying Golden Visa program. Investment Migration Insider has previously reported that Chinese nationals account for nearly half of the 2,079 investors who have received a residence permit in Greece in exchange for property acquisition since the program – which has raised €1.5
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At 2,079 cumulative Golden Visa issuances from 2013 to October this year, Greece is the third most popular residence by investment option in Europe, surpassed only by Portugal and Spain. According to Minister of Economy and Growth, Dimitris Papadimitriou, the program has helped raise €1.5 billion so far, a number he expects to grow significantly over the
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