Greece Sees 12% Rise in Initial Golden Visa Applications in October

Greece Sees 12% Rise in Initial Golden Visa Applications in October

Key Highlights

  1. Initial applications for Greece’s Golden Visa program rose by 12% in October 2024 compared to the same month in 2023.
  2. The top nationalities applying for the program were from China, Türkiye, and Lebanon.
  3. Ministry of Migration data shows a sharp increase in new pending applications during the first ten months of 2024.

October 2024: Growth in Golden Visa Applications

Greece’s Golden Visa program saw a 12% increase in initial applications in October 2024, with 12,577 submissions compared to 11,229 in October 2023, according to data from the Ministry of Migration.

Chinese nationals accounted for the largest share, submitting more than half of all applications. The top five nationalities applying in October were:

  • China: 6,521 applications (51.8%)
  • Türkiye: 1,115 applications (8.9%)
  • Lebanon: 717 applications (5.7%)
  • United Kingdom: 511 applications (4.1%)
  • Iran: 509 applications (4%)

Surge in Renewals and Issuances

Renewals and issuances of Golden Visas also increased significantly, with a 61% rise compared to October 2023. A total of 4,283 renewals and issuances were recorded in October 2024, up from 2,659 in the previous year. The top contributors were:

  • China: 2,327 (54%)
  • Russia: 426 (9.9%)
  • Türkiye: 394 (9.2%)
  • Iran: 167 (3.9%)
  • Egypt: 166 (3.9%)

Rise in New Pending Applications

Between January and October 2024, the number of new pending Golden Visa applications rose significantly, reaching 5,890 compared to 4,772 in 2023. In total, there were 10,989 pending initial issuance applications and 2,953 renewal requests by the end of October 2024.

Low Investment Threshold Drives Interest

Greece’s Golden Visa program allows non-EU nationals to gain residency by meeting specific conditions, such as investing in real estate valued at €250,000 or more.

Although the government raised the minimum investment requirement to €800,000 in high-demand areas due to the housing crisis, Greece’s threshold remains competitive compared to other European countries with similar programs.

Despite the increase, the program continues to attract global interest, solidifying Greece’s position as one of the leading destinations for residency-by-investment in Europe.

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