Greece’s Golden Visa Applications Surge by 12% in October, Driven by Strong Demand from Chinese Nationals

Initial applications for Greece’s Golden Visa program experienced a notable increase of 12 percent in October 2024, with 12,577 applications submitted, up from 11,229 applications during the same month in 2023.

This growth reflects the sustained popularity of Greece’s Residency by Investment program, as highlighted by data from the country’s Ministry of Migration.

The latest statistics indicate that the majority of applications came from Chinese nationals, who accounted for over half of all requests. A detailed breakdown of the top nationalities applying for Greece’s Golden Visa in October 2024 reveals the following figures:

• China: 6,521 applications (51.8% of the total)

• Türkiye: 1,115 applications (8.9%)

• Lebanon: 717 applications (5.7%)

• United Kingdom: 511 applications (4.1%)

• Iran: 509 applications (4%)

In addition to initial applications, Chinese nationals also dominated renewals and issuances of Golden Visas. The Ministry of Migration reported a significant 61 percent rise in renewals and issuances in October 2024 compared to the same period in 2023. Specifically, 4,283 renewals and issuances were recorded in October 2024, compared to 2,659 in October 2023. The breakdown of renewals and issuances by nationality is as follows:

• China: 2,327 renewals and issuances (54% of the total)

• Russia: 426 (9.9%)

• Türkiye: 394 (9.2%)

• Iran: 167 (3.9%)

• Egypt: 166 (3.9%)

Sharp Increase in Pending Applications

The Ministry of Migration’s data also highlights a surge in new pending applications for Golden Visas during the first ten months of 2024. Compared to 4,772 pending requests in 2023, the current year has seen 5,890 new pending applications. In total, Greece is now processing 10,989 pending initial issuance applications alongside 2,953 renewal requests.

Greece’s Golden Visa Program: A Competitive Edge

Greece’s Golden Visa program offers residency to non-EU nationals who fulfill specific conditions, particularly through financial contributions. Among the various pathways available, real estate investment has been the most popular, requiring a minimum investment of €250,000.

However, the housing crisis in Greece prompted authorities to raise the minimum investment in certain high-demand areas to as much as €800,000. Despite this adjustment, the baseline investment threshold of €250,000 remains in place for many regions, keeping Greece’s program competitive compared to similar schemes in other European countries.

A recent report by Skai Greece emphasized this point, noting: “The minimum amount required for real estate investments in Greece of €250,000 continues to be low and competitive with other European countries that offer such programs.”

As the demand for residency by investment programs remains high, Greece continues to position itself as one of Europe’s leading destinations for securing residency through investment. The combination of an attractive minimum investment requirement and a strategic location ensures the ongoing appeal of the Greek Golden Visa program.

By fLEXI tEAM