Wealthy Chinese spend money on Greek gold passports

The government of the New Democracy is trying to begin recovery from the economic crisis, which has been going on for almost 10 years, selling residence permits and passports to foreigners.

In order to obtain citizenship, it is necessary to make a 250,000 Euro minimum investment. This proposal interests people from all over the world, especially Turks and Russians. But it’s especially worth highlighting the citizens of China, whose government invades the EU through the port of Piraeus, managed by COSCO, and the Bank of China opens branches. In addition, other Chinese companies are showing a willingness to invest in Greece.

It was the sale of Golden Visas that helped accelerate recovery, despite the criticism that the government faced.

Reporter Maria Petrakis in the Los Angeles Times showed how wealthy Chinese people use visas, especially in the real estate sector.

Selling Golden Visas has become a big business for Greece. In 2019, 2,008 such visas were sold according to Enterprise Greece.

Read more about the rules for obtaining a Golden Visa of Greece

Since the start of the program in 2013, Greece has managed to sell 4,059 gold visas. The number of buyers among Russians and Chinese has been growing recently.

According to the Bank of Greece, the inflow of money through the purchase of a real estate in January-June 2019 increased by 94% to 736 million euros.

Citizenship by Investment Program in Greece is quite accessible for people who have money. Those initial investments that the country requires are quite reasonable.

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