x

Economy

Greek Golden Visas Luring Rich Turks, Lebanese, Indians, Iranians

ATHENS – After being held down by the ongoing COVID-19 pandemic that limited international travel, interest has become keen again among wealthy foreigners who want to invest in Greek property acquire a Golden Visa.

That comes with a residency permit, including a family, and a valued European Union passport that gives a green light to the wealthy while even Greeks of the Diaspora have to wait up to two years or more for citizenship.

While it had been dominated by Chinese and Russians – amind EU worries the programs in a number of states aren’t properly vetted to look for money laundering or criminal activity – applications are coming from Turks, Lebanese, Indians and Iranians, said Kathimerini in a report.

Those are countries with political instability but whose rich can move about and gain the benefit of living in Greece while refugees in many countries fleeing war, strife and economic hardship try to reach the country by boat from Turkey to seek asylum, hundreds drowning.

Greece is a top choice because it requires only a 250,000-euro ($279,964) investment in property, pocket change for the super-affluent, and with the country’s desirable location in a country with a sunny, warm climate.

Migration Ministry data showed there were 478 permits in 2021 given to Chinese applicants, an increase of 8 percent while it jumped 79 percent for Russians with 576 applications from the beginning of the program in 2015.

There was a 71 percent increase from Lebanese, with 304 applying and 15.5 percent for Turks whose country is now suffering economic volatility and the long authoritarian rule of President Recep Tayyip Erdogan.

Risvas & Associates law firm head Achilles Risvas told the newspaper that, “We observe that nations which have seen a significant depreciation of their currency, like Turkey, Lebanon and Iran, are also showing a considerable rise in investor interest in acquiring property in Greece.”

The interest from rich Indians was seen because of the United Kingdom leaving the EU and they want to have access to the bloc with a passport that makes traveling easier.

RELATED

ATHENS, Greece — A far-right Greek lawmaker has been charged with criminal assault for allegedly punching a colleague on the sidelines of a parliamentary debate Wednesday.

Top Stories

Columnists

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.

Video

A Palestinian Baby in Gaza is Born an Orphan in an Urgent Cesarean Section after an Israeli Strike

RAFAH, Gaza Strip (AP) — Sabreen Jouda came into the world seconds after her mother left it.

ATHENS, Greece — A far-right Greek lawmaker has been charged with criminal assault for allegedly punching a colleague on the sidelines of a parliamentary debate Wednesday.

BROOKLYN, NY – From Greece to Miami to Brooklyn, Meraki Greek Bistro is now open in Williamsburg at 252 Grand Street.

SANTORINI – The prestigious sports event of Santorini, Santorini Experience, which highlights one of the top tourist destinations in the world through sports activities, will be held for the 7th year from October 3-6.

ATHENS – The distinguished Greek-American scientist Nikos Kyrpides, biologist, researcher, head of the Prokaryotic Genomics Program at the Joint Genome Institute of the U.

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.