On September 11, 2022, the Prime Minister of Greece, during a speech on the country’s economic policy, announced an increase in the minimum investment amount required under the property investment option of the Greece Golden Visa program. “In order to increase the affordability of real estate for Greeks”, as he explains.
Greece Golden Visa program, which kicked off in 2013, helped to sell 1,035 properties in Greece in 2021, down from the record 3,535 properties in 2019. Data by The Ethnos newspaper.
In fact, the size of the investment will double. The minimum investment to apply for a Greek residence permit will be € 500,000 instead of € 250,000. But we lack details at the moment when this new requirement will come in force.
Golden Visa of Portugal for investing in The Riverside Faro Hotel
Located about 7 km from Faro airport, the 4-star signature hotel comprises estimated 133 boutique rooms with luxury details, Gym created for dynamic people, Spa with a relaxed and clean ambiance and a swimming pool to recharge your energy.
Faro is the largest city in algarve region, known for its beautiful historical heritage and its outstanding beaches. The city has all the essential day-to-day services nearby, along with excellent restaurants and tremendous tourist spots to visit.
Hotel will be flagged by an international brand. Developer guarantees buyback and pays IMT. Expected completion date – third quarter of 2024.
It turns out that in the near future obtaining a golden visa of Greece will cost the investor almost more than participation in the passport program of Montenegro. Montenegrin CIP continues its work until the end of 2022 and offers opportunity to become European citizen via minimum investment of € 250,000 in one of the authorized projects in the Northern area plus non-returnable investment of € 200,000 in government funds. So, investing now €450,000 in total you will get citizenship of Montenegro for life.
Obviously, as interest for such kind of programs is higher than ever, prices will rise. Like that happened in Turkey in June 2022 when minimum investment jumped from $250,000 to $400,000.
But in the Caribbean, where the investment citizenship industry actually originated, everything is still stable regarding the conditions of participation. Here, thanks to these programs, new hotels are being built. For example Grenada is blooming because of the local CIP promising new luxury hotels to be opened very soon: Six Senses La Sagesse (shares sold out), InterContinental Grenada and Silversands Hotel.
InterContinental Grenada. For the developer, this will be the fourth project in the Caribbean region under the investment citizenship program. Range Developments’ flagship project, St. Kitts’ Park Hyatt, opened to guests on November 1, 2017. The 150-room InterContinental Grenada hotel will be built on La Sagesse Beach, approximately 30 minutes from the Maurice Bishop International Airport and the town of St. George’s. The property is expected to open in 2025. $220,000 per share.
Citizens of Grenada can visit 144 countries in a visa-free regime, including the Schengen zone, Great Britain (180 days a year), China (30 days without a visa), Russia. The main applicant (investor) in the application for Grenada citizenship can be joined by a spouse, children (under 30 years old — without educational requirements), parents, as well as siblings of the applicant (unmarried and without children).
Please note that citizens of Grenada, thanks to a special agreement between Grenada and the United States, can apply for a type E2 visa. However, this is a different investment story where you will need to invest in a business in the United States, according to the requirements established under the program.