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Golden Visa Approvals are on the Low in Greece

Despite seeing growth in Chinese applications for the Golden Visa in Greece, the overall approval figures in Greece have dropped significantly in the first quarter of 2019. In the first three months, there were 262 primary applicants and 559 dependents. Compared to last year, this is a 26% drop in approvals.

However, experts attribute some of the reduction to seasonal variations in application volume. If previous year’s figures are anything to go by, the approval rate should go up by the end of the year.

Ever since Greece launched the Golden Visa program, applications have steadily risen over the years. For instance, primary applicant approvals in 2018 were over 1000, while dependent applicant approvals were over 4000.

If past increases in approvals are anything to go by, 2019 should see a decent growth rate.

On the whole, Greece has approved golden visas for 4,154 primary applicants and 7,291 dependents since the program was launched in 2013.

Steady Increase in Chinese Investors

When it comes to ethnicities investing in the golden visa program, Chinese investors continue to dominate. In 2017 alone, one-third of the golden visas ended up with Chinese applicants. Around 58% of all applicants since 2013 happen to be from Mainland China.

Russia is the next biggest investor group for the golden visa.

Cities with Most Approvals

In a city-wise breakdown, 2019 saw around 37% of golden visa approvals taking place in Athens. Athens was followed by Piraeus, Pallini, and Polygyros with 25%, 16%, and 4.9% respectively.

Middle Easterners Account for Most Dependent Applicants

When it comes to nationalities, there is variation in the tendency to include family among middle eastern applicants. It has been determined that Syrians and Iraqis bring three times more family members than Iranians, who currently bring in the least number of family members.  

If you would like more information on Greece Golden Visa Program, please contact CitizenMatch, at info@citizenmatch.com, or (773) 349-6693, for assistance

Posted on May 15th, 2019 | Greece, News
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