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Rich Turks buy their way out through Greek golden visas

Featured Rich Turks buy their way out through Greek golden visas

Investments by Turkish citizens in Greece in order to obtain a residence permit is at the focus of German media.

The so-called "golden visa" that many prosperous Turks are trying to acquire in Greece to ensure their free movement within the EU was reported in an extensive news coverage of the n-tv television network:

"Many Turks regard Greece as a safe haven in the uncertain times of their homeland. for the corresponding price, they can secure an exit to the EU. The "golden visa" is their security at the end of the day." The report then explains how one acquires the so-called golden visa: "Anyone who invests at least 250,000 euros in buying property, for example in Athens, receives from the first day a residence permit in Greece for tehmselves, their spouse, their children under 21, parents and in-laws" and that, as explained by the columnist, entails "the right to travel without a visa within the Schengen zone."

As n-tv says: "Greece is not the only country to grant a 'golden visa' to the EU, but it is the most economical. Portugal, for example, has a similar program, but it foresees a minimum investment amount of  €500,000. Cyprus gives citizenship directly, but it is valued at 2 million." Finally, the article states that "this year, until November, a total of 170 residence permits were given to Turkish investors and their families by Greece. In 2016 it was just 30," the television network said, pointing out that after the failed coup, more and more Turks are leaving their homeland.