Greece’s Golden Visa Program Outperforms European Competitors in January-June 2022

According to data compiled by Tranio, Greece’s Golden Visa became the leading residence-by-investment program in Europe in terms of relative demand growth in the first half of the year, despite the suspension of issuance of new ones for citizens of Russia and Belarus.

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The ministry’s website says:

His research showed that the most popular programs in Europe in terms of demand growth were the Greek “golden visa” (requests increased by 127% compared to January-June 2021), Golden Passports of Turkey (+24%), Malta (+18%) and Montenegro (+12%), as well as the residence permit for investment program in Italy (+11%) .

The overseas property broker also found that Golden Visas and passports have greatly contributed to the recovery of the European property market from the pandemic.

The Greek Golden Visa is a residence permit for investment issued under the Greek government program. The investor and his family receive the status of a resident in exchange for investments in real estate, government securities, Greek business or making a deposit in a bank in the amount of 250,000 euros. And it is a plastic card with an embedded chip, photo and personal data.

Holders of the Greek Golden Visa do not have to live in Greece or take a Greek language exam. The Greek Golden Visa is renewed every five years as long as the investor retains the property and wishes to remain a Greek resident.

On April 1, 2022, the Greek authorities published a decision on the extension of residence permits for Golden Visa holders, which was previously suspended on the basis of recommendations European Commission for citizens of the Russian Federation and Belarus. Information about this is published on the website of the Ministry of Migration and Asylum.

AT publications The ministry’s website says:

The suspension of consideration of submitted applications for the extension of residence permits by citizens of the Russian Federation and Belarus is cancelled. The suspension of the submission and approval of new applications for the issuance of residence permits remains until further notice.

By decision of the Minister of Migration and Asylum, Mr. Notisa Mitarakis the suspension of consideration and decision-making on pending applications for the extension of the validity of a residence permit in accordance with articles 16 and 20 B of Law 4251/2014, filed by citizens of the Russian Federation and Belarus, including members of their families, has been lifted.

The submission of new applications for a residence permit, as well as applications for the extension of a residence permit by citizens of the Russian Federation and Belarus, belonging to the category of “business owners” of Article 17 of Law 4251/2014, has been suspended.

However, until recently, the suspension of filing and approval new statements for obtaining a residence permit under articles 16 and 20 B of Law 4251/2014 by citizens of the Russian Federation and Belarus, including members of their families, according to investment certificates.

With regard to the suspension of new applications, it is noted that exceptions apply:

a) citizens of the Russian Federation or Belarus who are members of the family of investors of another nationality;

b) citizens of the Russian Federation or Belarus who are family members of the investor, a citizen of the Russian Federation or Belarus who have already applied for an extension of their residence permit or have a valid residence permit.

It is noted that Greece until recently suspended issuance of residence permits for investment purposes for citizens of the Russian Federation and Belarus, before the formation of the corresponding position of the European Union. In this context, the European Commission issued its recommendation – number C (2022) 2028 (03/28/2022), which was taken into account when making this decision.

The suspension of consideration of submitted applications for the extension of residence permits by citizens of the Russian Federation and Belarus is cancelled. The suspension of the submission and approval of new applications for the issuance of residence permits remains until further notice.

By decision of the Minister of Migration and Asylum, Mr. Notisa Mitarakis the suspension of consideration and decision-making on pending applications for the extension of the validity of a residence permit in accordance with articles 16 and 20 B of Law 4251/2014, filed by citizens of the Russian Federation and Belarus, including members of their families, has been lifted.

The submission of new applications for a residence permit, as well as applications for the extension of a residence permit by citizens of the Russian Federation and Belarus, belonging to the category of “business owners” of Article 17 of Law 4251/2014, has been suspended.

However, until recently, the suspension of filing and approval new statements for obtaining a residence permit under articles 16 and 20 B of Law 4251/2014 by citizens of the Russian Federation and Belarus, including members of their families, according to investment certificates.

With regard to the suspension of new applications, it is noted that exceptions apply:

a) citizens of the Russian Federation or Belarus who are members of the family of investors of another nationality;

b) citizens of the Russian Federation or Belarus who are family members of the investor, a citizen of the Russian Federation or Belarus who have already applied for an extension of their residence permit or have a valid residence permit.

It is noted that Greece until recently suspended issuance of residence permits for investment purposes for citizens of the Russian Federation and Belarus, before the formation of the corresponding position of the European Union. In this context, the European Commission issued its recommendation – number C (2022) 2028 (03/28/2022), which was taken into account when making this decision.



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