The golden visa programs in Europe are undergoing significant changes, with many countries implementing more restrictive policies, higher minimum thresholds, and even abolishing programs altogether. Ireland, Portugal, and Greece are among the countries that have made changes to their golden visa programs in recent years. Greece, in particular, has increased the minimum thresholds for real estate investments, requiring more significant investments for residency through the golden visa program. However, there are still lower-cost options available for those interested in taking advantage of the program.
While the changes to Greece’s golden visa program may deter some investors, it is important to consider whether the program is the right fit for your specific circumstances. For those looking to gain residency in Greece without becoming tax residents, or for those from countries without visa-free travel to the EU, the golden visa program may still be a viable option. However, for those simply interested in property investment in Greece, there are alternative residency options available that may be more suitable.
For those interested in eventually gaining citizenship in Greece, it is important to note that the golden visa program may not offer many benefits in this regard. Citizenship in Greece is granted through naturalization after a certain number of years of legal residency in the country. This process involves meeting requirements such as passing a Greek language test and spending a certain amount of time in the country. Despite the advantages of the golden visa program in terms of maintaining residency status without physical presence, it may not be the most efficient path to citizenship in Greece.
It is essential to act quickly and carefully evaluate your options when considering overseas opportunities, such as golden visa programs or citizenship by investment schemes. These programs are subject to rapid change, as seen in the recent adjustments to Greece’s golden visa policies. While the golden visa program may still be of interest to some investors, it is crucial to weigh the benefits and drawbacks of the program, especially in light of the recent changes. Ultimately, each individual’s unique circumstances and goals will determine whether the golden visa program in Greece or other residency options are the best choice for them.