In Greece, up to € 500 thousand will increase the cost of the “golden visa”

Greek Golden Visa for foreign investors will rise in price twice— up to €500 thousand (about 30 million rubles). This was stated by Greek Prime Minister Kyriakos Mitsotakis, delivering a keynote speech in Thessaloniki.

«In order to increase affordable real estate for Greeks, we are increasing the investment limit for issuing Golden Visa residence permits from €250,000. up to €500 thousand»,— he said.

Program “Golden Visa” (Golden Visa Program) in Greece allows you to obtain a residence permit when buying real estate in the amount of at least € 250 thousand (one or more objects) or renting housing on your own or on a timeshare basis for at least ten years. A residence permit can be renewed every five years while maintaining the original property or acquiring another for a similar cost. A residence permit allows you to do business, while not necessarily permanently residing in the country, real estate can be rented out.

Golden Visa holders can apply for citizenship after a seven-year period. This requires spending a significant amount of time in Greece and passing a language proficiency test. An applicant may enroll dependent children (up to age 21) and dependent parents of the applicant and spouse.

On September 9, the Council of the European Union approved the previously announced decision of the EC to suspend the visa facilitation agreement with Russia. The agreement will cease to be valid on Monday, September 12. This will entail an increase in the cost of issuing visas (from €35 to €80), an increase in the number of required documents, delaying visa processing and tightening the rules for issuing multiple visas.

After that, the Russian Foreign Ministry did not rule out that the European Union or individual states of the association could completely stop issuing residence permits to Russian citizens. Before the pandemic, Russians were in the lead among the citizens of the states to which the EU countries provided the most Schengen visas. In 2019, about 4 million were issued to Russian citizens.

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