Greece Processed Over 9,200 Golden Visa Applications in 2024
Key Highlights:
- Greece received 9,289 applications for its Golden Visa Program in 2024.
- The rise in applications has contributed to a growing backlog of pending cases.
- Chinese investors remain the top beneficiaries of the program.
Greek authorities processed 9,289 Golden Visa applications in 2024, marking a 10% increase from 2023. According to Imi Daily, the program has maintained an annual growth rate of 25% between 2018 and 2024, as reported by Schengen.News.
Greece’s Residency by Investment Program allows foreign nationals to obtain residency by making qualifying financial investments. The program has gained further traction following Spain’s decision to phase out its own version, while Portugal eliminated real estate investments as an eligibility option.
Backlog Exceeds 7,000 Pending Applications
The growing demand for Greece’s Golden Visa—offering residency in exchange for investments starting at €250,000 in certain regions—has resulted in a significant application backlog.
Data from Imi Daily shows that in 2024:
- 9,289 applications were submitted.
- 1,617 were approved.
- 30 were rejected.
- 7,641 remain pending.
Comparatively, in 2023, Greece received 8,477 applications, approving 4,244 while rejecting 42, with 4,189 still pending.
By December 2024, the total backlog of new and renewal applications reached 49,301—a 76% increase from the 27,964 pending requests in December 2023. The last quarter of 2024 saw a sharp rise in applications, averaging 1,048 per month, up from 683 in the previous three quarters. December 2024 marked the highest application surge in two years, with the program maintaining a low rejection rate of around 2%.
Chinese Investors Continue to Dominate
Chinese investors lead the Golden Visa Program, making up a significant share of both new applications and renewals. Turkish investors ranked second, accounting for 8% of new applications and 5% of renewals, followed by Lebanese investors at 5% for both categories.