In September, several news sources reported that the Greek government plans to introduce a limited citizenship – granting scheme to non-EU nationals. The criteria mentioned included an investment of more than €2 million in the real-estate market. If the program is introduced according to this model,it will likely be very competitive and attractive to many investors. It might be the case that the program will be very similar to the Cyprus one.
As stated in the news, authorities are currently reviewing methods and models of an implementation of such a program. So far, the well-known Golden-Visa program made significant influence on the development of the country and its real-estate market. Similarly, the citizenship program is likely to be a remarkable success.
According to the news, the program is supposed to accept a limited number of applications. The scheme itself will be strictly structured, and include an opportunity for an investor to become a permanent resident of Greece.
A commonly raised question when it comes to citizenship schemes is whether the program includes family members. According to current sources, the program will include partners and family members.
We are of the opinion that the introduction of such a program will be beneficial for Greece and positively influence foreign direct investment in the country.
As for now, we will stay patient and await official information to be released.
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