US Interest in Greece’s Golden Visa Surges 50% after Presidential Election

  • January 23, 2025
US Interest in Greece’s Golden Visa Surges 50% after Presidential Election

Interest in Greece’s Golden Visa program among U.S. nationals has reportedly increased by 50.4 per cent in just two months, as indicated by the number of Google searches conducted by U.S. citizens between October and December 2024.

Interest spiked in November after the U.S. presidential election, which confirmed Donald Trump as the 47th president of the United States, coupled with the recent announcement of the closure of Spain’s Golden Visa.

These results have seen Greece become the most in-demand Golden Visa country in Europe, especially with U.S. citizens who are seeking a ‘Plan B’ destination away from their home country. This demand is expected to remain until April 3rd 2025 when Spain’s Golden Visa program closes.

Although the scheme is being terminated, the US’ interest in Spain’s Golden visa remains high. Over the past month, it has been reported that US Google Search for the term “Residency by Investment” has increased by 24.9 per cent, and “Spain Golden Visa” marked a 21.6 percent increase.

Changes to Greece’s Golden Visa Program - From January 1st 2025

For those interested in Greece’s Golden Visa program, it is important to note the changes which were implemented on January 1st. In a bid to shift foreigners’ interest from real estate investment to startup ventures, the government introduced a tax bill to attract investors through innovative avenues to contribute to economic growth beyond property acquisition.

Due to this, the new requirements are listed below:

  • Foreign investors are eligible to acquire shares or stakes in a business. However, it must not surpass 33 per cent of the company’s capital or voting rights.
  • The company is required to create at least two new jobs within the first year following the investment made through this program.
  • The company is required to maintain the larger workforce for five years or more after the investment.

The most popular option for investment in Greece has always been real estate in exchange for acquiring residency. However, this has subsequently contributed to Greece’s housing crisis, a challenge Greece has been grappling with for some time, much like many other European countries.

To tackle this, the Hellenic Republic decided to increase the minimum amount required for golden visa investments made through the real estate option, which in some of the most famous territories in Greece now reaches €800,000.

Why is Greece’s Golden Visa attractive to U.S. citizens? 

Alongside the presidential election results and the closure of Spain’s Golden Visa, there are other factors which draw U.S. citizens to Greece’s program.

For example, in comparison to other European destinations, Greece offers a lower barrier to entry with an investment starting at €500,000 in property. Additionally, Golden Visa holders can travel visa-free to 26 Schengen Zone countries, apply for Greek citizenship after seven years of investment and live in a sought-after Mediterranean climate.

Demand has increased for investment in luxury properties in areas such as Santorini, Crete and Mykonos. Greece’s updated Golden Visa has showcased a competitive edge, with strategic property locations (both coastal and urban) eligible for investment alongside the consistent growth of the country’s property market.