Being one of the cheapest and most convenient Golden Visas offered by a European Union member state, the Greek Golden Visa has marked a sharp increase in terms of issuance, this year so far.

Data shows that the Greek government issued 2,008 residence permits to persons who invested in Greece a minimum of €250,000 euro in 2019.

There is a highlighted increase in Golden Visa issuance in the last few months in particular from the beginning of September to the first days of December, with the Greek government granting 742 new five-year residence permits to non-EU investors and their families, 90% of whom were Chinese buyers.

Right now, the Greek residence-by-investment program is the cheapest Golden Visa in Europe, 50% cheaper than it used to be, following the economic crisis. When the program was launched in 2013 at the time of economic crisis, only 16 people applied to obtain such a visa, while in 2017 the country saw 2170 applicants.

The total number of residence permits granted since the scheme was launched in 2013 to the end of 2018 was 4,059.

With over 6,000 Golden Visas issued until now, almost 70 percent (4,129 permits) were granted to Chinese investors, including the 742 new five-year residence permits, granted from early September to December, 665 of which went to Chinese buyers.

The benefits of holding a Greek Golden Visa are many. A Greek Golden Visa holder automatically becomes an EU resident since Greece is a member of the European Union. The holder is also allowed to move freely since the country is part of the Schengen Zone of Europe. The spouse, minor and dependent children up to 21 of the Property Investors also are granted with a five years residence permit, and all of the benefits as the latter.

The fact that one is not required to live in Greece prior to or during the application, or even after residency has been granted, makes the Greek Golden Visa very expedient.

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