Turk and Chinese Investors Dynamic Entry in Greece

Turkish and Chinese investors have made a dynamic entry into Greece with the Golden Visa program which grants a Greek residence permit to foreigners who buy property in Greece worth more than €250,000. According to the updated statistics of the Ministry of Immigration and Asylum, from 2014, when the Golden Visa was implemented for the first time, until today, a total of 7,825 foreigners have invested at least €250,000 to acquire real estate in Greece. At the top of the list are the Chinese with 5,770 registrations, followed by 527 Turkish investors and 363 Russians. The rest of the ranking is as follows: Lebanon (159), Egypt (153), Iran (121), Iraq (95), Jordan (68), Ukraine (63), Syria (57) and other countries (449). Based on the Greek Immigration Code, it is possible to issue residence permits to third country nationals and their family members who purchase real estate with a minimum amount of €250,000, an amount that must be paid in full at the time of signing the contract. Residence permits are renewed every 5 years as long as foreign investors still own the real estate they acquired in Greece.