Chinese investors snap up Greek 'Golden Visas'

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ATHENS: Chinese investors led the so-called Golden Visa boom in Greece, where residence permits issued to non-EU countries citizens grew 46 per ...

ATHENS: Chinese investors led the so-called Golden Visa boom in Greece, where residence permits issued to non-EU countries citizens grew 46 per cent last year.

Since the launch of the programme until the end of the first trimester of 2019, a total of 4,154 permits were issued.Chinese investors have acquired 2,416 out of the 4,154 permits issued so far. Russian citizens came second with 428, followed by Turks.The European Commission published a report earlier this year, urging members to curb the practice of granting golden visas and passports to foreign investors.

The report said wealthy candidates for residency or citizenship do not face adequate security and background checks.

 

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