Applications for Greek Investor Visas Soar in Q4 2022

The number of investors applying for a Greek golden visa, which grants five-year residency rights for third country nationals who purchase property in Greece valued at a minimum of 250,000 euros, increased in the last quarter of 2022 following an announcement by Greek Prime Minister Kyriakos Mitsotakis last fall that the minimum requirement would increase to 500,000 euros.

According to migration and asylum ministry data, the number of new applications for Greece’s golden visa scheme increased by 231 percent in December 2022 to 1,116 from 337 in September 2022, when the announcement was made.

In total in 2022, 2,767 new investor visas were granted, up by 81 percent over 2021 and 1,525 visas but still down on 2019 when 3,504 visas had been issued. Overall in 2022, 4,264 applications for a golden visas had been submitted.

Athens, Greece.

It should be noted that as of April 30, the minimum requirement for the acquisition of an investor visa is set to rise to 500,000 euros for real estate  purchases in the wider Athens and Attica region, including in Paleo Faliro, Alimos, Elliniko, Glyfada, Marousi, Kifissia, Melissia, Vrillisia, Dionysos and Ekali – all areas where massive infrastructure projects have been completed or are underway such as The Ellinikon; in Thessaloniki and on Mykonos and Santorini.

The 250,000-euro limit will continue to apply for areas further away from the Greek capital, such as Vouliagmeni, Varkiza, Voula, Saronida, Anavyssos and Sounio.

According to data, Chinese buyers remain in the lead with the most investor visas granted accounting in December 2022 for 6,159 or 62.8 percent of all visas granted, followed by buyers from Turkey (6.4 percent of the total, 631 permits) and Lebanon (4.5 percent of the total).

It should be noted that Greece’s golden visa program is the leading residency-for-investment scheme in Europe and provides through Greek residency rights instant access to the Schengen Area and the EU.