Greece Golden Visa has been quite popular with the foreign investors for quite some time now. The program ultimately awarded its investors with a Greek residence permit but not a citizenship. It is known that Greece is one of the harder countries to get an actual citizenship from. However, things are likely about to change as the newly elected Greek government may be working on a Greek citizenship by investment program.
A Greek Citizenship for 2.5 Million Euro?
It is speculated that the new program will start after the first quarter of 2020. Since citizenship is arguably a much better benefit than the accustomed residence permit that one would normally get from Greek Golden Visa programs the price of the program will be adjusted accordingly. 2.5 million Euros is the number that goes around in the circle which will be asked for the possibly new Greek Golden Visa that will give its investors an actual Greek citizenship. However, for the first three years of the program Greek officials may cut the VAT out of this price bringing it to similar levels with the 2 million Euros that is asked for the Cypriot Golden Visa program.
The Cypriot Citizenship by Investment Program May be Damaged
It is not clear whether the new government in Greece will go ahead with these rumors but one thing is clear, this newly introduced Golden Visa program will steal some of the market share of Cyprus’ own citizenship by investment program. Cyprus’ CIP was one of the most lucrative in the whole world but it is thought that some of its possible investors could change their path to get a Greek citizenship instead if such a program ends up becoming a reality, and Cypriot CIP officials are quite certain that their intel on the said new coming Greek citizenship by investment program is solid.
Plans to Make Another Greece Golden Visa is Possible but not Confirmed
It must be noted that even though the introduction of a brand-new Greek citizenship by investment program is labeled as strongly possible by Cypriot officials no such announcement have been made by their Greek counterparts yet. News groups and Golden Visa experts have tried to get answers from the Greek government to no avail. Obviously the introduction of such a program will renew the interest among foreign investors to invest more in Greece and that seems to be the aim the newly elected government of Greece has been going for, for some time now.