x

Society

More Americans Want Greek Golden Visas, Residency, EU Passports

ATHENS – Americans are joining the rush to invest enough in Greece to receive residency permits and Golden Visas that give them valuable EU passports, said the United States’ real estate service Berkshire Hathaway HomeServices.

That was reported by SchengenVisaInfo.com based on information from sources it didn’t reveal with Greece continuing to seek out rich foreigners while even those in the Diaspora who can’t qualify have to wait two years or more to get citizenship.

“We’re expecting a strong resurgence of interest from abroad in buying and renting real estate in Greece, especially with regard to luxury holiday homes at popular tourist destinations and on islands in the Cyclades, on Crete and Corfu,” managing partner Berkshire Hathaway HomeServices Athens Properties, Kyriakos Xydis, told the site.

Greece has become attractive to rich foreigners for its climate, low cost of living and preferential tax treatment while other Greeks have to pay an income tax of up to 45 percent.

Prime Minister Kyriakos Mitsotakis’ New Democracy government is changing the scheme and increasing the minimum amount to be invested in real estate at 500,000 ($485,522) it was said.

The threshold had been only 250,000 euros ($242,761,) a pittance for the rich but still out of reach for many amid reports that some properties are being scooped up to qualify and then turned into short-term rentals emptying Greek neighborhoods and driving up rents to prohibitive levels.

A recent report provided by property brokers Traino showed that Greece is among the top-five Residency by Investments programs that attract international investors the most.

But the report added that the Golden Visa schemes in the European Union have been criticized for being open to criminal activity and money laundering, a scandal bringing about the end of Cyprus’ program.

RELATED

ATHENS - Greece is rapidly emerging as the key gateway for natural gas in Southeastern Europe, with projects such as the TAP pipeline, the LNG terminal in Revythoussa and the FSRUs in Alexandroupolis, Environment and Energy Minister Kostas Skrekas said on Monday, addressing the voria.

Top Stories

Columnists

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

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

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

Hawaii’s Mauna Loa Starts to Erupt, Sending Ash Nearby (Video)

HONOLULU — Hawaii's Mauna Loa, the world's largest active volcano, has started to erupt for the first time in nearly four decades, prompting volcanic ash and debris to fall nearby, authorities said Monday.

NEW YORK — Days after flocking to stores on Black Friday, consumers are turning online for Cyber Monday to score more discounts on gifts and other items that have ballooned in price because of high inflation.

HOUSTON — More than 2 million people in the Houston area were under a boil order notice Monday after a power outage caused low pressure at a water purification plant, officials said.

For Ryan Decker, surviving the holiday shopping season is all about planning ahead.

ATHENS - Greece is rapidly emerging as the key gateway for natural gas in Southeastern Europe, with projects such as the TAP pipeline, the LNG terminal in Revythoussa and the FSRUs in Alexandroupolis, Environment and Energy Minister Kostas Skrekas said on Monday, addressing the voria.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

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