Greece Doubles Golden Visa Approvals in 2025 Amid Falling Applications

Greece's Golden Visa program saw a significant increase in approvals in 2025, nearly doubling from the previous year, even as the number of new applications fell. The program, which grants residency to investors, issued 8,879 initial permits in 2025, up from 4,535 in 2024. This surge in approvals was driven by officials working through a backlog of older files, which allowed the two measures, applications and approvals, to move in opposite directions.

The highest number of approvals occurred in July 2025, with 916 permits issued. The pace slowed slightly in August but picked up again in the latter part of the year, with October seeing 875 approvals and December adding 828. Despite the high approval numbers, the total pending initial investor applications decreased from 9,958 at the end of 2025 to 6,315 by July 2026, indicating that the backlog was being addressed.

China remained the largest group of investors, holding 9,926 active permits at the end of 2025, accounting for 47.9% of the total. However, Turkey saw the most significant growth, with its count rising from 1,268 in December 2024 to 3,291 in December 2025, an increase of about 160%. Other countries like Israel, Iran, and the United States also saw notable increases in active permits.

The drop in new applications after a record surge in 2024 can be attributed to changes in Greece's property rules. The 2024 surge was likely driven by a deadline for applicants to meet previous thresholds. Under the current framework, the minimum investment required is 800,000 euros in high-demand areas and 400,000 euros elsewhere, with additional restrictions on property use.