The Greek debt crisis has resulted in a rise of Chinese investors who wanted to diversify their portfolio and to get a new passport in EU countries.
At present with an investment of about €250,000 in Greece, a foreign investor can gain residency in Greece. The Greece program is also known to be cheapest residency program in the world. And for Chinese the Greece is increasingly becoming popular investment destination to gain residency.
According to Euroterra capital, Chinese investors had increased two fold since 2013 due to the favorable immigration policies.
As the immigration programs has been stopped in US and Canada, with the UK policies becoming increasingly tough and the longtime to wait. But, the Greece program that gives a residency in a very short period of time by investing in the properties.
However, cheaper programs may not always be better, as the property prices in Greece had fallen by about 38 percent from the year 2009 and there is also a prediction that decline continues another 20 percent for the coming next two years.
But the Chinese investors are unperturbed, as the issue of whether Greece would stay in EU or not has been addressed now; the Greece will definitely continue to be a gateway for the investors looking to open business in EU.
In the recent times, wealthy Chinese investors are going away from the UK, and about 85 percent of the Portugal golden visa applicants also belong to China. All these figures indicate the growing popularity of Europe residency visas among Chinese.