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Society

China’s Investors Lining up to Scoop Up Greek Golden Visas

August 5, 2018

With Chinese companies eager to snap up state enterprises at what critics said were being sold on the cheap, Greece is the sixth most popular destination for Chinese real estate investors who can buy a so-called Golden Visa for access to the European Union.

The Chinese news agency Sina Weibo said Greece is the preferred destination behind the United States, United Kingdom, Ireland, Canada and Australia because of the chance to get a visa allowing free travel in the EU.

That’s available in Greece for investors who buy property as low as 250,000 euros which gives them a five-year residency permit at the same time even Greek-Americans with proof of ties to Greece have a difficult time getting one.

Out of the 2,881 Golden Visas issued from the start of the program in 2013 up until last month, 47 percent (or 1,351 permits) have gone to Chinese nationals, the report said, with 426 Russians getting permits and 289 Turks.

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