Recently, significant positive news has emerged from the Greek Ministry of Development and Competitiveness. Under the Greek property-for-residency policy, the first 3 residence permits granted to foreign citizens have been issued, and another 2 are in the final stages of issuance. This marks a substantial breakthrough for the Greece property immigration program, which has been highly sought after since its launch in China, as the first group of investors has successfully realized their dream of establishing a second home in the Aegean. According to foreign media reports, the first group of recipients includes Chinese families, though this has not yet been officially confirmed by the Greek government.
In April of this year, against the backdrop of a sluggish Greek economy and a large inventory of unsold properties, the Greek government introduced the property-for-residency policy, using EU residency as an "incentive" to attract foreign real estate investors and boost the domestic economy. The policy stipulates that non-EU citizens who purchase property in Greece valued at 250,000 euros or more can apply for a 5-year Greek residence permit. As long as the property is not sold after 5 years, the residency status can be renewed, effectively granting a permanent, renewable Greek "Green Card." At the same time, the investor's spouse and children under the age of 18 are also eligible for residency.
The Greek government has shown great attention and support for this policy. Recently, Notis Mitarachi, Deputy Minister of Development and Competitiveness, stated that the Greek government has simplified the approval and issuance procedures for residence permits to facilitate investors. In China, the Greek Ambassador to China personally attended the launch ceremony of the Greece investment immigration program introduced by Worldway Immigration. This program has sparked a new wave of immigration interest among Chinese investors. Since the program's launch in China, Worldway has received a steady stream of inquiries, and many clients have already signed inspection agreements to visit Greece.
Regarding why the Greek property-for-residency program has been so popular among Chinese investors since its launch, Worldway experts analyze that Greece is one of the 28 EU member states and also a Schengen country, allowing holders of a Greek residence visa to travel freely throughout the EU and Schengen area. Furthermore, with Greek real estate prices currently at a low point, it is an excellent time to enter the market. With the recovery of the Greek economy and its natural environment as a world-class vacation paradise, there is significant room for future property appreciation.