Greece rebounded after a decade-long financial crisis and became a magnet for global wealth and investment, pioneering continental economic growth. The Golden Visa program, introduced in 2013, grants residency to non-EU nationals who invest at least €250,000 in real estate, attracting diverse international investors and significant capital. Investment inflows revitalized the real estate market, injected liquidity, and spurred development, business opportunity, and local employment. In 2024, Henley & Partners recorded 1,200 millionaires settling and working in Greece, while the UK is forecast to lose 16,500 millionaires amid tax reforms. Competitive tax policies and political stability under New Democracy position Greece as a strategic European business base.
Introduced in 2013, Greece's Golden Visa scheme offers residency to non-EU nationals who invest at least €250,000 in real estate. This has opened the door for a diverse range of international investors, driving significant investment and capital into the Greek economy. The economic ripple effect these investments have had has been profound. Meanwhile, the real estate market has had a vital injection of liquidity, with formerly stagnant neighbourhoods experiencing a surge in development, opportunity and local employment.
According to a recent study by Henley & Partners, in 2024 alone, 1,200 millionaires chose to settle and work in Greece. By contrast, countries like the UK are forecasted to lose a record 16,500 millionaires this year - in part due to unfavourable tax reforms to the non-domiciled status. Greece - with its more favourable position for wealthy innovators and now well established political and economic stability provided by the New Democracy government -is a pivotal strategic base for European business.
The broader global context further enhances Greece's appeal. As countries like Spain close their golden visa program and Italy doubles its flat tax on foreigners to €200,000, Greece offers a rare combination of tax efficiency, residency benefits, and quality of life. Investors - especially from the United States, which accounted for 36% of foreign investment in 2023 - increasingly see Greece as a gateway to the European market, with business-friendly reforms and pro-investor governance under the New Democracy administration.
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