{"id":9161,"date":"2017-05-12T14:08:25","date_gmt":"2017-05-12T14:08:25","guid":{"rendered":"https:\/\/www.investmentimmigration.com\/?p=9161"},"modified":"2019-02-12T14:02:08","modified_gmt":"2019-02-12T19:02:08","slug":"turkish-nationals-look-greece-golden-visa-program","status":"publish","type":"post","link":"https:\/\/www.investmentimmigration.com\/turkish-nationals-look-greece-golden-visa-program\/","title":{"rendered":"Turkish Nationals Look To Greece Golden Visa Program"},"content":{"rendered":"

Turkish nationals are emerging as small but important investors in the Greece Golden Visa Program<\/a>.<\/p>\n

Dozens of properties in Greece have been sold to Turkish investors seeking a residency permit.<\/p>\n

\"Turkish<\/p>\n

Political turmoil in Turkey, where President Recep Tayyip Erdogan recently won a referendum awarding him greater power, is proving to be a push factor for many concerned people.<\/p>\n

Businesses are reporting overseas clients no longer want to visit Turkey to perform transactions, forcing them to look elsewhere for premises.<\/p>\n

Investors in the Greece immigration<\/a> program must spend \u20ac250,000 or more on a property to receive a five-year residency permit for themselves and family members. The permit is renewable provided the investment is maintained.<\/p>\n

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Greece Golden Visa Program: Investment Requirements<\/h3>\n
    \n
  1. Purchase real estate property in Greece with a minimum value of \u20ac250,000.<\/li>\n
  2. Sign a 10-year lease with minimum \u20ac250,000 for hotel or other tourist residence.<\/li>\n
  3. Have purchased a property before 2013 currently worth \u20ac250,000 or more.<\/li>\n
  4. Own Greece real estate of minimum value \u20ac250,000 acquired through donation or parental concession.<\/li>\n
  5. Purchase land with intent to build, provided value of land and construction contract is minimum \u20ac250,000.<\/li>\n<\/ol>\n
    \n

    Official statistics show 57 Turkish nationals have purchased houses, with 12 so far awarded residency permits.<\/p>\n

    The paperwork has been completed in 49 of the 57 cases, with 128 residency permits expected to be awarded to investors and their family members.<\/p>\n

    Key investments include the purchase of a former government electricity provider office by a Turkish national for \u20ac850,000.<\/p>\n

    Elsewhere, another Turkish investor is lining up a \u20ac1 million investment in a hotel, while a major Turkish manufacturer is looking for 4,000 spare-metre premises for a factory.<\/p>\n

    The Greek Economy and Development Ministry is now looking at ways of growing the Greece immigration program, which it hopes will provide crucial foreign direct investment for a struggling economy.<\/p>\n

    Further reading<\/b><\/p>\n