New passport-holders gain all the advantages of the EU.
Greece considering allowing investors to obtain full Greek citizenship after seven years.
The Greek government is looking to make exciting changes to its ‘golden visa’ program, allowing investors to obtain full Greek citizenship after seven years.
A bill scheduled to go through parliament could allow non-EU buyers to aquire full citizenship in Greece. Currently, the investment for the residency program (or ‘golden visa’) in the country grants renewable five-year residency permits to non-EU investors who buy property worth more than €250,000 (AU$360,000). This means they can live in Greece for as long as they own the property.
Under the new scheme, participants will have the option of full citizenship after seven years – meaning the new passport-holders gain all the advantages of the EU. This should make Greece a more attractive prospect to Chinese and Russian investors in particular. The Greek government has also been promoting its visa scheme in the Middle East.
“If approved by parliament, I think it’s a positive move by the Greeks,” Vas Agridhiotis of Greek property specialist RDC told OPP Connect.
STUDIO 3 NEWCASTLE AUSTRALIA 