From August 1, investments under the Greek residence permit program will increase by 2 times

In three months, the new rules of the residence permit program in Greece will come into force, which will increase the minimum investment for the purchase of real estate from 250,000 to 500,000 € in 36 regions of the country. These changes in the program have led to an increase in demand among investors. From January to March 2023, 1,360 applications for a residence permit in Greece were submitted, which is 136% more than in the same period last year. From March 2022 to March 2023, the Greek Ministry of Immigration Policy received 6,064 applications from investors for a residence permit and 1,545 applications for renewal. During the year, 2775 applications were considered and approved, 16 were rejected and 5 were withdrawn.

The residence permit program in Greece is one of the most popular and affordable in the European Union. Since 2018, 16,035 applications have been submitted to the program, with about 62% of applicants being Chinese nationals, followed by investors from Turkey and Lebanon in second and third places, respectively. A residence permit allows you to live and work in Greece, open bank accounts and use the services of local clinics, schools and universities, as well as freely travel around the Schengen countries without the need to obtain visas. The residence permit program in Greece is currently temporarily unavailable for citizens of Russia and Belarus, but they can still purchase real estate in Greece.