Investments Greece’s Golden Visa Scheme Boosts Economy by Nearly €1bn in Jan-May by GTP editing team 10 July 2023 written by GTP editing team 10 July 2023 3 comments Share 0FacebookTwitterLinkedinWhatsappEmail 32 Greece’s golden visa program boosted the country’s economy by almost 1 billion euros in the first five months of the year, benefiting from Portugal’s decision to discontinue its own residence by investment scheme and by Greek authorities’ decision to delay an increase in the threshold. More specifically, according to the Migration & Asylum Ministry, a total of 3,900 applications for the purchase of real estate for residence were submitted in the January-May period compared to 1,444 in the same period last year while properties worth 975 million euros were sold off – up by 170 percent or three times higher than last year’s total of 361 million euros. The growing interest in Greece’s residency by investment program is placing pressure on authorization authorities with more than 5,444 investor visa applications awaiting approval. Indicative of the demand, in the May 2022-May 2023 period, a total of 8,351 investor visa applications were submitted to Greek authorities, 35 percent of which approved. In the first five months of 2023, 1,938 applications were approved compared to 777 in the year-ago period – up by 149%. In May, 412 permits were issued over 220 in 2022. Greece’s decision to push back to August 1, 2023, the increase in the investment limit from the current 250,000 euros to 500,000 euros for certain areas has boosted demand the golden visa. Join the 15,000+ travel executives who read our newsletter Follow GTP Headlines on Google News to keep up to date with all the latest on tourism and travel in Greece. Share 0 FacebookTwitterLinkedinWhatsappEmail GTP editing team This is the team byline for GTP. The copyrights for these articles are owned by GTP. They may not be redistributed without the permission of the owner. previous post Greek Tourism Stakeholders Call for Unified 11% VAT Across Services next post Kefalonia’s Eliamos Villas Hotel Enters Prestigious Relais & Châteaux Association You may also like Greece’s Hotel Market Sees Major Investments Over Four Months 5 February 2025 Greek Tourism Ministry Monitors Santorini Situation as Seismic Activity Continues 5 February 2025 Global Air Passenger Demand Reaches Record High in 2024, IATA Reports 5 February 2025 Greek PM Reassures Public About Santorini’s Ongoing Seismic Activity 5 February 2025 Milos: Ministry Suspends 5-star Hotel Construction Near Sarakiniko Beach 5 February 2025 ELIME and HELMEPA Join Forces for Safer, More Sustainable Greek Ports 5 February 2025 3 comments David Lejeune 11 July 2023 - 13:05 American citizens support Greece w aid, why do we have same visa requirements as Syria and others who don’t help Greece??? Reply Peter Hrvatin 11 July 2023 - 14:06 What does aid have to do with visa ? America stole Iraq’s oil so the citizens should be allowed in the US? each matter different rules. Visa rules usually are mutual for both sides. What your country allows them, you are going to be allowed from them. Reply Zeus 11 July 2023 - 11:38 What looks a good decision for the country, it is going to turn up in the same mess that Portugal is at the moment. Lisbon and Porto do not have houses/apartments in a price that locals can pay. We already can see this in some Athens area. What the article does not say, is HOW MANY OF THESE PROPERTIES ARE IN THE COUNTRY OR CITIES? It is ridiculous to pay 400 euros in a 26sq in Pagrati because of Golden Visa Scheme! sad! Reply Leave a Reply to Peter Hrvatin Cancel Reply Save my name, email, and website in this browser for the next time I comment. Δ
