The number of applications for Greece’s Golden Visa Program marked a notable decline in April this year, based on the recent figures from the Ministry of Migration.
The same noted that a total of 28.5 per cent decline was noted in April compared to the figures from the same period in 2024, Schengen.News reports.
In April this year, 564 new applications for residency were submitted through the Hellenic Republic’s Golden Visa Program, accounting for a decrease compared to 790 registered in the same month in 2024.
According to a report from Kathimerini, the decline was first noted in September 2022, following the increase in the minimum amount required for golden visa applications, announced by Prime Minister Kyriakos Mitsotakis.
Greece’s Golden Visa Program permits wealthy non-EU nationals to acquire residency in exchange for financial investments and meeting the set criteria.
More Than 9,200 Golden Visa Applications Registered in 2024
The figures from IMI Daily revealed that in 2024, authorities in Greece received a total of 9,289 applications through the Golden Visa Program, accounting for an increase of ten per cent compared to the statistics registered in 2023.
The same source revealed that the program saw an increase of 25 per cent for a period from 2018 to 2024.
Chinese Top Beneficiaries of Greece’s Golden Visa Scheme
The Ministry of Immigration Policy and Asylum revealed that of the total, 6,398 golden visas were granted to Chinese investors through Greece’s Golden Visa Program.
The statistics from the Ministry also revealed that a large number of Golden Visas were issued by Greece to nationals from the following countries:
- Türkiye – 1,367
- Lebanon- 775
- Iran- 556
New Changes to the Golden Visa Program
Last year, Greece announced that from January 2025 would implement new changes to its Golden Visa Program in a bid to attract a larger number of wealthy foreign nationals.
Previously, Greek authorities offered additional details regarding the startup option in the Draft Budgetary Plan for 2025.
Greece also decided to increase the minimum amount required for golden visa investments.
However, these changes, according to the president of the Federation of Real Estate Brokers of Greece, Dimitris Biniaris, led to distortions.
Due to the series of changes, there was a surge in permit applications, leading to market distortions and unintended consequences.
Greece’s Golden Visa Program continues to remain among the most famous ones in Europe.
