Quality education and strong passport attract immigrant investors to Greece
Greece’s strong passport and high quality educational institutions are expected to attract immigrant investors in 2021, following a fall in demand from real estate investors last year.
According to Ekathimerini, an Athens-based news daily, widespread lockdowns and travel restrictions caused by the coronavirus pandemic made it difficult for real estate investors to complete the procedures necessary to purchase property in Greece last year. As a result, Greece issued less than 500 residence permits in 2020, a record decline of 88.5% from 2019, when 3,504 permits were issued. Greece has issued over 8,000 permits since the start of its Golden Visa programme.
Despite the low demand for property-based immigration, a report by UK-based investment immigration firm Astons showed that Greece offers immigrant investors particularly beneficial investment options including high-quality education and a low investment threshold of only 250,000 for Golden Visa applicants.
Greece ranks 8th on the Henley Passport Index for 2021 as Greek passport holders have visa-free access to 184 countries in the world.
Greece also ranks 9th in terms of quality of education among 22 countries with investment immigration programmes. High quality education is an attractive immigration route for third-country investors interested in obtaining a Golden Visa.
Taking into account its education index rankings, Greece places second only to Switzerland in terms of the overall package offered to potential real estate investors.