Changes considered for Golden Visa program, 16 March 2017

The Economy and Development Ministry is about to start examining how it could expand the program which offers visas to non-European Union citizens to more investment categories besides properties in an attempt to improve the existing framework.

A meeting on that subject on Thursday decided that the minimum investment requirement of 250,000 euros for a so-called Golden Visa will be retained for the time being, while also discussing whether the incentive could be expanded to other investment categories, such as stocks and bonds. These options are offered in similar programs in other countries.

Furthermore, the ministry is preparing to hold discussions with other ministries about the possibility of providing the additional incentive of Greek citizenship for investors. Property market associations have in fact been demanding such an incentive for several years, as its inclusion in the programs of other countries, such as Portugal's, has proven particularly successful, bolstering investor numbers.

Thursday's meeting also decided to step up information campaigns about the Golden Visa program at the country's consulates and embassies around the world, as it has not fetched the anticipated results in the years since it was first introduced in Greece.