It has been reported that the new Greek Government, under Kyriacos Mitsotakis, are considering launching a CBI programme in 2020 which, if confirmed, would provide direct competition to the successful Cypriot citizenship programme. Currently, Greece only has a Residency-by-Investment programme.

The plans are to implement the CBI programme after the first quarter of 2020 and the cost for the investment will be very similar to Cyprus, at €2.5 million. With the VAT potentially being deferred for three years, it will mean that the cost will more-or-less be the same as the Cyprus programme (€2 million).

Further, with the different cities and several islands, it will mean that there will be far more opportunities for investment, making it a strong competitor to Cyprus.