Greece Raises Bar for Foreign Investors Golden Visas, Passports

September 16, 2022

ATHENS – Wealthy foreigners who want to get residency permits in Greece that come with valued European Union passports will have to put at least 500,000 euros ($497,495) into likely buying a single property, double the current requirement.

That was announced by Prime Minister Kyriakos Mitsotakis at the Thessaloniki Fair (TIF) as Greece had the lowest requirements in the EU to get a so-called Golden Visa much sought by the rich around the world.

It caught some involved in helping investors get the permits off guard, said Kathimerini, and led them to be anxious that those wanting the visas will go to other countries where it’s cheaper.

The reason given was to increase the housing and rental apartment stock for Greeks who are being shut out of the market in some neighborhoods by foreigners buying up property, and shifting it toward short-term rentals.

“Countries such as Spain and Portugal also have an investment limit of 500,000 euros, but especially the latter offers the option of obtaining citizenship, as soon as the investor completes five years from securing the residence permit,” Alexandros Risvas, head of the Risvas & Associates law firm specializing in investment immigration programs told the paper.

He said it will be critical how this change will be implemented in the program, given that there are many “open” sales during this time, which are delayed due to bureaucracy, not noting he profits from it.

The Ministry of Development is said to be looking at various scenarios so as not to interfere with the program and applications already in the works for the lower investment level won’t be affected.

It was said that doubling the amount would increase applications until that takes effect with people seeking the visas wanting to get in before the amounts are raised for them.

The ministry reportedly will also require the investment be for one property instead of multiple purchases that otherwise see them buying five for 100,000 euros ($99,499) and renting them on platforms like Airbnb, shutting out Greeks and raising rents in many city neighborhoods.


ATHENS - Greece’s National Security Intergovernmental Council (KYSEA) gave the ok for the country to take part in a  European Union naval mission in the Red Sea to protect merchant ships from attacks by Iran-backed Houthis in Yemen.

Top Stories


A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.


THE HAGUE (AP) — The United Nations’ highest court on Monday wrapped up historic proceedings into the legality of Israel’s 57-year occupation of lands sought by Palestinians for a future state, with most voices at the hearing arguing against the Israeli government.

NEW YORK (AP) — Donald Trump has appealed his $454 million New York civil fraud judgment, challenging a judge’s finding that Trump lied about his wealth as he grew the real estate empire that launched him to stardom and the presidency.

BUDAPEST, Hungary (AP) — Hungary’s parliament voted Monday to ratify Sweden's bid to join NATO, bringing an end to more than 18 months of delays that have frustrated the alliance as it seeks to expand in response to Russia's war in Ukraine.

NEW YORK (AP) — New York City is marking the anniversary of the 1993 bombing at the old World Trade Center that blew apart a van parked in an underground garage, killing six people and injured more than 1,000.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.