The growing interest of British investors in the Greek Golden Visa
Figures released in recent weeks by Greek authorities show a sustained increase in interest from British investors in investing in Greece, especially in its Golden Visa program.
According to the Greek newspaper CapitalThe British currently rank fourth among those interested in residency through investment, after China, Turkey, and Lebanon. Notably, just a year ago they were in seventh place.
This surge is also reflected in the granting of initial permanent investor permits to property buyers from Great Britain. From the start of the program until June of last year, 281 permits had been granted; in the last 12 months, these permits have increased by 58%, reaching a total of 444.
Why is this growth occurring?
Although these phenomena usually have various causes, the main one in this case appears to be Britain's departure from the European Union, "Brexit." Thus, many Britons interested in buying a second home for holiday purposes are now taking advantage of the opportunity to combine that investment with applying for a residence permit.
This makes Greece and its Golden Visa program a very attractive option compared to other countries that don't offer real estate as a requirement. Furthermore, Greek residency grants freedom of movement both within the Schengen Area and for entering and leaving the EU, a possibility that is becoming increasingly important for UK citizens.
Changes to the Greek Golden Visa
Another reason for the increase in applications for this program has to do with the legal changes that were announced These changes, which were implemented in early 2024 and are already underway, aim to increase the minimum investment amounts, which until now were €250.000 in real estate.
However, for those who finalize their investment before September 30th of this year, the amounts and rules will remain the same until the end of 2024, with the possibility of an extension until 2025. A great reason to act quickly and take advantage of these amounts!
According to the Greek Ministry of Immigration and Asylum, there are currently more than 9.000 applications for residence permits that have not yet been examined, so the proportion of British investors could increase even further in the coming period.
Greece, in the world's top 5 for Golden Visas
Although some estimate that British interest will decrease as minimum investment amounts rise from €250.000 to €800.000 in areas like Attica, Mykonos, or Santorini, the truth is that Greece remains a major draw. an attractive destination for investors.
On the one hand, not all areas of Greece will see the same increase: outside the designated areas, the minimum amount is €400.000. And there are two cases in which this minimum amount can still be €250.000. One is when the investment is made to restore a historic building or property, and the other is when it involves acquiring an industrial or commercial property—offices, shops, hotels, warehouses—to convert it exclusively into housing.
Let us add to this that, in the world ranking of Golden Visa programs that the firm Henley & Partners carries out every year, Greece is among the top 5 rated, among other things, "for its high levels of security, excellent educational opportunities, solid health care options and a reliable rule of law."
Another advantage is that applicants are not required to reside in Greece to maintain their residence permit. The program also provides benefits for family reunification: residence permits are extended to the main investor, their spouse, their children under 21, and the parents of both spouses.
As you can see, and as hundreds of British investors have already discovered, the Greek Golden Visa is an excellent opportunity. AIM Global has extensive experience in this area, which is at your disposal to help you achieve your goals.
Schedule a meeting with our team now.We have offices in Europe, and we will accompany you at every stage of the process.
