The Russians and the Chinese are the first to purchase “golden residence permit” in Greece

The Russians and the Chinese are the first to purchase “golden residence permit” in Greece

The investing "residence permit in exchange for real estate investments" program brought about €200 million to Greece since May 2013. In total, 519 investors used this service by that time, including 83 applications waiting for approval, informs the ee24.com citing Ekathimerini and statement made by the Deputy Minister of Development of Greece Notis Mitarakis.

The Russians (185 applications), the Chinese (119) and citizens of Egypt (33) showed greatest interest to the "golden residence permit" in Greece (or as it is called the "golden visa"). It is noted that most of the residence permit in Greece were given to those property owners who have long owned housing, but have applied only now.

For comparison, a similar program in Portugal (but more expensive – for property worth up to €500,000) brought €817 million investment to the country's economy from October 2012 to July 2014. Residence permit in Portugal was mainly obtained by the Chinese.