Following the announcement of the Greek citizenship-by-investment programme (GCBI) that will be coming out in the first quarter of 2020, there are certain potential requirements that will come in place for real estate investment.
The eligibility requirements are temporarily reported to be as below:
- The real estate investment amount will be a minimum of €2million for a Greek passport to third-country nationals
- There is a limit of 200 naturalisations each year
- Investors are able to become residents of Greece before becoming a citizen
- Invest in property with market value €500,000 and cover the maintenance costs of the property every year (at least €50,000)
- Properties are obtainable through legal entities
Greece remains the most attractive investment market, with the golden visa being one of the cheapest for permanent residency at €250,000 and now the GCBI will continue to add towards the growth of the economy.