𝙒𝙞𝙡𝙡 𝙩𝙝𝙚 𝙎𝙥𝙖𝙣𝙞𝙨𝙝 𝙂𝙤𝙡𝙙𝙚𝙣 𝙑𝙞𝙨𝙖 𝙋𝙧𝙤𝙜𝙧𝙖𝙢 𝙘𝙤𝙢𝙚 𝙩𝙤 𝙖𝙣 𝙚𝙣𝙙? 𝙒𝙝𝙞𝙘𝙝 𝙥𝙧𝙤𝙜𝙧𝙖𝙢𝙨 𝙬𝙞𝙡𝙡 𝙧𝙚𝙖𝙥 𝙩𝙝𝙚 𝙗𝙚𝙣𝙚𝙛𝙞𝙩𝙨?
The Spanish government has acknowledged that it is contemplating two options: either completely eliminating the “golden visa” program or increasing the minimum investment requirement to €1 million.
Although Spain’s Golden Visa program has been a favorite among wealthy investors from around the world, Cyprus, Greece, and Malta are expected to gain advantages if Spain decides to abandon the program, similar to what Ireland and Portugal have done.
The Greek real-estate market is one of the most competitive in Europe as it offers investing opportunities in immovable assets in competitive prices emerging out the recovery of the Greek economy after the long period of the economic crisis. In order to promote real-estate investments, the Greek Government has created over the past 4 years a relatively lenient legislative framework, that combines the acquisition of real estate property with the issuance of an investor’s residence permit (named and known as Golden Visa), thus offering all the advantages of the free movement of citizens within the Schengen area.
The Greek Golden Visa Program is a residence by investment program launched in 2013 that enables non-EU nationality persons and their family members to obtain permanent residence permits in Greece and its requirements and administrative procedures are mainly regulated in the provisions of Art. 20B L. 4521/2014, as amended and in force by law 5007/23.12.2022.