The residence permit for the buyer and their immediate family is for five years, and is renewable. The “golden visa” gives the buyer the right to work in Greece and move freely around EU member states.
“Many Turks regard Greece as a safe haven from the uncertainty that prevails in their homeland. By paying the corresponding price, they can ensure a “fire exit” to the EU.
“Greece is not the only country to grant a “golden visa” into the EU, but it is the most inexpensive. Portugal, for example, has a similar program, but it foresees a minimum investment of 500,000 euros. Cyprus gives citizenship directly, but the investment must be 2 million euros,” the report continues.
Through November, a total of 170 residence permits were given to investors from Turkey, and their families.