Greek Golden Visa programme set to re-open after lock down.

Greece plans to relaunch its Golden visa programme after the current lock down in order to boost its economy. The programme had been suspended because of the corona virus situation.

During an online meeting organized by Prodexpo Real Estate last week, Deputy Finance Minister Theodoros Skylakakis said “We are very interested in jump starting the real estate market and in that direction, we are immediately relaunching the golden visa program”.

Skylakakis said the Greek economy and market would begin to gradually “open up” at the beginning of May, aimed at stimulating investment. To facilitate investor activity, he said the government is expected to allow foreign buyers to apply for residency through proxy.

“To accelerate the course of growth in the coming months, we will seek to lift the bureaucratic hurdles that currently exist in the property market,” he said.

The minister underlined the importance of keeping the property market strong, adding that it must remain as unaffected as possible.

Greece’s popular investor visa scheme that grants five-year residency rights for third country nationals who purchase, individually or through a legal entity, property in Greece valued at a minimum of 250,000 euros, has been described as one of the “friendliest in Europe”.

Skylakakis said that he expects the Greek market to pull through primarily due to Greece’s superb handling of the corona virus crisis, its attractiveness as a destination and its strong brand name.

“Long-term investors in tourism will have an added incentive given that the prices will have dropped,” said Skylakakis.

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