Coronavirus Measures Hinder Chinese Investors on ‘Golden Visa’ Program



Credit: Greek Reporter

More than 120 families of Chinese “Golden Visa” investors and another 100 prospective buyers are not allowed to enter Greece due to the coronavirus preventive measures.

The “Golden Visa” program allows a foreign, non-EU individual or family to become residents in Greece if they invest at least 250,000 euros in real estate property.

Hundreds of investors, not only from China, who have acquired real estate in Greece or have paid advances, are not allowed to travel to the country in recent months to submit the relevant documents and obtain the residence permit, due to Covid-19 preventive measures.

The issue was recently addressed by the China-Greece Investors Association, as about 120 Chinese investors can not enter the country, even though they have already acquired property in Greece.

The association calls on the Greek authorities to take an immediate decision to allow buyers to come to Greece, stressing that the decision concerns more than 120 investor families and more than 100 potential investors.

Investors from China, Turkey, the U.S., India, South Africa, Iran, and the United Arab Emirates are not allowed to travel to Greece for the time being.

The total issuance of residence permits to investors – buyers of real estate and their families since the beginning of the “Golden Visa” program from 2014 until July 6, 2020, has been 23,361, according to Enterprise Greece data.

Chinese investors have the lion’s share with 5,770 licenses out of a total of 7,825. Residence permits have already been issued to 17,475 Chinese investors and their families out of a total of 23,361 citizens from foreign countries.