Greece Postpones Decision to Increase the Minimum Amount of Investment for Golden Visas Until July 1

This means that wealthy foreign nationals interested in Greece’s Golden Visa Program will still be eligible to benefit from this scheme by investing €250,000 instead of €500,000 until July 1, AtoZSerwisPlus.com reports.

Greek Prime Minister Kyriakos Mitsotakis previously announced that the state would increase the minimum amount of investment for the Golden Visa Program from May 1 this year.

Following the announcement that the amount of investment for its Residency through the Investment Scheme, known as the Golden Visa Program, would change, there has been registered an influx in the number of applications for this program.

Based on the figures provided by the Ministry of Immigration and Asylum, the number of applications for Greece’s Golden Visa surged by a total of 252 per cent, totalling 1,446 requests in January and February this year, compared to 411 recorded in the same period last year.

The Ministry also revealed that in the first two months of this year, the number of golden visas issued was 574, thus accounting for an increase of 101 per cent compared to those issued in the same period last year when 286 visa applications were given.

Besides, a report published by Mono News said that a total of 17,916 requests for residence permits were submitted to investors. Of the total, 69 per cent benefited from the Golden Visa Program of Greece, while 30 per cent are still pending, while one per cent of the total number of requests has been rejected.

Besides, research conducted by the immigration investment scheme, Astons, revealed that online searches for the Hellenic Republic’s Residency by Investment scheme rose by 75 per cent in the past month alone.

The analysis of Astons focused on global Google search trends related to the topic of Residency by investment and citizenship by investment schemes revealed that searches for Greece’s investment schemes notably increased in March this year.

The report showed that while searches for the Hellenic Republic’s Citizenship by Investment scheme surged by 16.8 per cent for a period between March and April, those for Residency by Investment scheme increased by 7.7 per cent.

Greece’s Golden Visa Program gives wealthy foreign investors the opportunity to acquire residency in this country. In order to benefit from this scheme, applicants are required to make a financial contribution to the Hellenic Republic, in addition to other conditions that they are obliged to meet.