Greece Offers Saudis 5-year Residency For Investments Over 250,000 Euros

Greek Consul General in Jeddah Chronis Polychroniou.

Greek Consul General in Jeddah Chronis Polychroniou has announced that Greece has issued a new law that allows investors from non-EU countries to obtain resident permits for five years, provided the investment is at least 250,000 euros.

According to Arab News, the consul called on the Saudi business community to take advantage of the great opportunities available to them in Greece in several areas including energy, real estate, industry and tourism.

Mr. Polychroniou’s announcement came on the sidelines of a visit by Greek Tourism Minister Olga Kefalogianni to Saudi Arabia with the aim of promoting of Greek tourism and opening up new markets.

Speaking about the facilities offered by Greece to attract investors, he said the Greek government recently announced a new law to provide for taking in non-EU citizens irrespective of whether they buy or rent property in Greece for more than 250,000 euros.

“You can get the Schengen visa for five years for you and your family, and if you do not sell this property, you can renew it for another five years,” the consul said.

Source: Arab News