The Investment Community Dynamic in Greece
Golden Visa - Invest Migration | February 2022
THE INVESTMENT COMMUNITY DYNAMIC IN GREECE

Following the idleness of the investment community recorded during 2020 due to the pandemic, 2021 seems to show improving statistics from foreign investors in Greece. The pandemic introduced new trends and practices to the investment sector which seem to be absorbed by the local situation. Undoubtedly, Foreign Direct Investments (FDI) will be of key importance for the forthcoming financial post-Covid rebound.

A credible research conducted by the yearly EY Attractiveness Survey by Ernst & Young, shows the trends influencing investment decisions in global and European level, focusing their impact to the attractiveness of Greece as an investment destination, as well as the future course of foreign direct investments in Greece. Based on EY European Investment Monitor (EIM), an extensive database with data collected by monitoring investments in projects which result to new constructions and employment spots, Greece has presented an inclining course in regards to Foreign Direct Investments (FDI) since 2019. More specifically, Greece attracted 22 FDIs during 2019, while this number climbed to 39 during 2020. The 2020 records pushed Greece – for the first time – in the 23rd place among the 51 countries included in the EY European Investment Monitor (EIM), while during 2021 the country is listed within top 10 most attractive European investment destinations. Despite this outstanding improvement, it is clearly evident that competition is also rising, since other European countries mark equally high – or even higher – percentages. 

The newly founded positive attitude of businesses who were not interested in domestic market until now, seems to be significant for the rapid growth in investments. The sectors of Industry, Informatics and software services have expanded in Greece. The progress is verified by 34% of the research participants, who declared that their business intends to develop or expand their operations in Greece, a percentage which is 6% higher than 2020 (28%).

The “outgoing” attitude of the Greek market as well as its attractiveness would not have emerged without governmental contribution, and more specifically a leniency policy with flexibility expressed in multiple political and socio-economical State decisions. First of all, the infrastructure in transfers, logistics and telecommunications, as well as human resources skills have been of crucial importance, since they are key aspects of the country’s attractiveness. Secondly, from a political and governmental scope, the favorable treatment of property acquisitions and investments has been supported actively, pursuant to legislative and ministerial decisions facilitating the Golden Visa scheme and property transfers, which resulted to foreign capitals being active on domestic level.

On the contrary, however, the domestic situation still has a lot of improvement potentials, either regarding current “black areas” or in order to get ahead of rapid environmental and technological evolvement. Indicatively, the current defaults of domestic market are business taxation and flexibility of labor law, while political decisions shall be issued following a consideration of global trend towards sustainability and “clean” technology. The latter consist major criteria for businesses in order to develop or expand their activities, not only within Greece, but within any country. 

It is now clear that Greece is being established as an attractive investment destination. Of course, an improvement to the country’s optics depends on multiple aspects such as social, financial and political features, which are equally important and definitive. The period between 2020 and 2021 was just an introduction to the promising investment growth which is greatly anticipated by the investment community. 

 

If you are interested in a property acquisition and investment in Greece, do not hesitate to contact our experienced team at info@georgakilawfirm.com 

 

Related Articles

Though media stories are decrying investment immigration, dubbing it “the end of golden visas”, the picture couldn’t be more different.

Golden Visa - Invest Migration | November 2023

As a sequel to our last article concerning the thriving Real Estate Market in Greece which presented among others the advantages of the Golden Visa Scheme, it worths highlighting the importance of the rapid processing time of the Golden Visa application. 

Golden Visa - Invest Migration | March 2023

Speaking about social globalization the world is more connected than ever due to the widespread of technology.

Golden Visa - Invest Migration | February 2023

Always wanted to move to Greece and wander around the picturesque island alleys with the view of blue domes?

Golden Visa - Invest Migration | February 2023

While the change of the limit for the Greek Golden Visa has not been established yet and it seems that no change will take place until the new year, the Greek government and the relevant ministers are studying alternative scenarios in order not to damage its popularity.

Golden Visa - Invest Migration | October 2022

The golden visa program was introduced by Law 4146/2013.

Golden Visa - Invest Migration | September 2022

The collection of the first installment by the Recovery Fund, amounting to 3,4 billion euro, towards our country, from which the amount of 1,72 billion regarding no refundable grants and the amount of 1,84 regarding loans.

Golden Visa - Invest Migration | April 2022

Removal of examination suspension and issuance of pending applications for renewal and submission of applications for renewal of residence permits of citizens of the Russian Federation and Belarus - The suspension of submission and approval of new residence permit applications is maintain

Golden Visa - Invest Migration | April 2022

You may be forgiven for assuming that the Greek and Portuguese golden visas are more or less the same. After all. both grant their holders EU residency, rely heavily on real estate investment, and follow a similar process.

Golden Visa - Invest Migration | March 2022

Following the decision of the Ministry of Immigration and Asylum for the provisions of temporary protection towards displaced Ukrainian citizens, Greek Government proceeds to the adoption of additional measures of humanitarian sensitivity as aid to Ukrainian ci

Golden Visa - Invest Migration | March 2022

Residency by investment (RBI) is a two-way venture. There is the immigration aspect, which in the case of Greece’s Golden Visa is the residency permit, and there is the investment factor, which can be quite complex and highly profitable – if done right.

Golden Visa - Invest Migration | March 2022

Following the recent undesirable developments of the Ukraine crisis, Greece proceeds to the practical support towards the displaced 

Golden Visa - Invest Migration | March 2022

By the adoption of the New Immigration Code in 2014, Greece entered the Golden Visa sector dynamically constituting one of the principal choices for investment immigration candidates.

Golden Visa - Invest Migration | March 2022

The upturn of Greek economy is confirmed once more by the national bank of Greece, according to the relevant data indicating the “vertical” increase of foreign direct investments in Greece for 2021, even in comparison to the pre-COVID era.<

Golden Visa - Invest Migration | February 2022

by Christian Henrik Nesheim

 

How do you spend your weekends?

Golden Visa - Invest Migration | February 2022

According to data collected by the international insurance company William Russel, Greece was listed within the top ten countries where citizens choose to live in 2022.

Golden Visa - Invest Migration | January 2022

Greece welcomes the new year with a promising growth, following the increasing trajectory of December 2021, according to the economic indicator researched by the Foundation of Economic and Industrial Research (in Greek

Golden Visa - Invest Migration | January 2022

The famous Greek Golden Visa scheme, which allows third country investors to acquire a
residence permit, has led to a significant growth of the Greek Real Estate market. Despite the
negative consequences of the coronavirus pandemic at a global level, real estate acquisitions in

Golden Visa - Invest Migration | January 2022

November has proven to be a very successful month for the Greek Golden Visa scheme since 151 applications – filed from main applicants – were approved. The approval rate reached 38 approvals per week and has granted Greece a leading position over the famous Portuguese program. 

Golden Visa - Invest Migration | December 2021

Despite the difficulties faced by the Greek Golden Visa scheme during last year, partially due to the pandemic crisis, Greece has rebounded and reached the 1

Golden Visa - Invest Migration | December 2021

 

 

 

 

 

 

Golden Visa - Invest Migration | November 2021

 

Golden Visa - Invest Migration | September 2021

A new tax motive regarding parental grants, which is predicted to trigger a boost in Real Estate transfers, is to be in force from 1

Golden Visa - Invest Migration | September 2021

Pursuant to articles 10 and 11 of the new legislation “Reformation of deportation procedures and return of third country citizens, attraction of investors and digital nomads, issues of residence permit and procedures of granting international protection along w

Golden Visa - Invest Migration | September 2021

 

 

 

 

Golden Visa - Invest Migration | July 2021

 

 

Golden Visa - Invest Migration | April 2021

 

Golden Visa - Invest Migration | March 2021

Greece is on its first attempt to offer tax motives in order to attract foreign direct investments.

Golden Visa - Invest Migration | January 2021

The upcoming Brexit which will turn British individuals to third country citizens with doubtful access to European Union, especially while the agreement between London and Brussels is pending, has shaped new trends for property market abroad from residents of United Kingdom.

Golden Visa - Invest Migration | December 2020

According to the Investment Migration Insider website and to the research of Anatoliy Lyetayevand the statistics from last year for some of the most popular resident permit’s by investment programs of Spain, Greece, and Portugal indicate that Greece had been the ultimate champion in “Golden Visa”

Golden Visa - Invest Migration | December 2020

According to Bloomberg, the country we considered as one with the strongest passports globally, is starting to lose ground, since the wealthy Americans are looking for a double citizenship. It is known that Americans have not expressed interest for “golden passports” until now.

Golden Visa - Invest Migration | December 2020
How Can We Help You