Golden Visa Programs: Spain Ends, greece Gains Popularity

Teh landscape of residency adn citizenship-by-investment programs is shifting, with Spain recently announcing the end of its Golden Visa program. This change is prompting investors to seek alternative destinations, notably those offering pathways to strong passports and visa-free travel.

Spain’s Golden Visa Program Ends

Spain’s Golden Visa program, which granted residency to investors making meaningful investments in the country, is coming to an end. The deadline to submit applications was April 3. This decision follows both external and internal pressures, creating a void in the market for residency options.

Greece Emerges as a Prime Alternative

With Spain closing its doors, Greece is emerging as a highly attractive alternative. The Greek passport is considered one of the most powerful and accessible, offering visa-free or visa-on-arrival access to 176 countries, including France, Germany, Italy, and Switzerland.

The Greek Golden Visa program has become increasingly popular.Despite opposition from E.U.leaders, Greece continues to offer a five-year family residency to expats. This is available for a minimum investment of €250,000 in local real estate in ‘less desired’ areas. However, in areas with high housing demand, such as Athens and Santorini, the investment threshold has risen to $840,000 (€800,000); other locations require $420,000 (€400,000).

“Citizenship-by-investment programs have become an effective tool for obtaining a strong passport and benefiting from its various advantages, including visa-free travel. While residency alone doesn’t provide access to a passport, some nations allow you to turn your residency into full citizenship over time.”

Benefits of the Greek Golden Visa

• Fast processing times: Residency granted within 60 days.
• Unlimited residency with no mandatory stay requirements.
• Visa-free travel within the Schengen area.
• Eligibility for citizenship after seven years.
• Convenient geographical access to markets in the middle East.

Shifting Focus and Potential Changes

Like Spain and Portugal,Greece is considering shifting its focus to company investors,especially startups. Alena Lesina of Astons notes that “…interested investors probably have less than a year left to secure Greek residency and access to the opportunities it offers.”

Alternatives and Comparisons

Portugal offers a Golden visa through fund investment, starting at €500,000. However, the waiting time for a residence card exceeds 18 months, significantly longer than Greece’s processing time of three to five months.

Compared to other global passports,European countries generally rank higher. As an exmaple,the U.K.passport grants access to 172 countries, and the U.S. passport to 171. passports from Russia (127) and China (96) provide more limited access.

Conclusion: Seize the Opportunity

With Spain’s Golden Visa program ending and potential changes looming in Greece, now is the time to explore residency-by-investment opportunities. Greece offers a fast, efficient path to residency, visa-free travel, and eventual citizenship. If you’re considering securing a stronger passport and greater global mobility, research your options and take action soon. Consult with an investment advisor today to determine the best strategy for your needs.

Considering the recent closure of Spain’s Golden Visa program, how are investors evaluating the attractiveness of the Greek Golden Visa as a viable option for residency and global mobility?

Greece Golden Visa: The New Hotspot for Investors After Spain’s exit

The Golden Visa landscape is changing rapidly.With Spain recently ending its program, many investors are looking for alternative routes to secure residency and global mobility.We sat down with Elias Papadopoulos, a Principal at Global Migration Solutions, to discuss why Greece is emerging as a leading destination.

Spain’s Golden Visa Closure: A Lost Opportunity?

Elias, thanks for joining us. With Spain’s Golden visa program now closed, what’s the immediate impact on investors?

The closure certainly creates a void. Spain was a popular choice, offering a relatively straightforward path to residency. Now,investors need to re-evaluate their options. The good news is,other attractive programs exist,with Greece being a prime example.

The Allure of the Greek Golden Visa

Greece seems to be gaining a lot of traction. What makes the Greek Golden Visa so appealing right now?

Several factors contribute to greece’s popularity. Firstly, the relatively low minimum investment, starting at €250,000 in certain areas, makes it accessible. Secondly, the Greek passport is highly regarded, providing visa-free access to 176 countries. And thirdly, the processing times are remarkably fast – we’re talking about residency granted within 60 days in certain specific cases.

Navigating Investment Thresholds in Greece

We understand the investment threshold varies depending on the location. Can you elaborate on that?

Absolutely. while the entry point remains at €250,000 for real estate in ‘less desired’ areas, prime locations like Athens and Santorini now require a considerably higher investment of €800,000.Other locations fall in the middle, with an investment threshold of €400,000. It’s crucial to consult with an expert to determine the best location based on individual goals and budget.

The Benefits Beyond residency

Beyond the immediate residency, what other benefits does the Greek Golden Visa offer?

The Greek Golden Visa isn’t just about residency; it’s about long-term opportunities. It provides visa-free travel within the Schengen area, eligibility for citizenship after seven years, and convenient geographical access to markets in the Middle East. It’s a gateway to Europe and beyond.

Potential Changes and the Future of the Program

There’s talk of potential changes to the program. what should investors be aware of?

Like Spain and Portugal, Greece is considering shifting its focus, potentially favoring company investors or startups. While the program remains attractive now, interested investors should act sooner rather than later. We anticipate changes could be implemented within the next year, potentially increasing investment thresholds or modifying eligibility criteria.

Greek Golden Visa vs Other Alternatives

How does the Greek Golden Visa compare to alternative programs like Portugal’s?

Portugal offers a Golden Visa thru fund investment, starting at €500,000. However, the waiting time for a residence card can exceed 18 months, which is significantly longer than Greece’s processing time. Greece provides a faster and arguably more straightforward route to residency,particularly for those interested in real estate investment.

Passport Power: Greece vs. the World

How does the Greek passport stack up against other global passports in terms of access?

European passports generally rank very high. The greek passport grants access to 176 countries. While the U.K. and U.S. passports offer access to 172 and 171 countries, respectively, passports from countries like russia (127) and China (96) provide more limited global mobility.

Seizing the Opportunity: Final Thoughts

What’s your final advice for investors considering the greek Golden Visa?

With Spain’s program ending and potential changes on the horizon in Greece, now is the time to explore this opportunity.Research your options, consult with an investment advisor, and take action soon. The Greek Golden Visa offers a fast, efficient path to residency, visa-free travel, and eventual citizenship – but the window of opportunity may not remain open indefinitely.

A Question for Our Readers

Considering the changing landscape of Golden Visa programs,what factors are most crucial to you when seeking residency-by-investment? Share your thoughts in the comments below!