Greece has seen a surge in the number of people applying for its residency by investment program while other European countries call time on such programs.
Alina Lesina, immigration expert for Astons USA, said it looked likely that Greece would now become the "destination of choice" for wealthy U.S. expats.
Olympia Anastasopoulou, secretary general for tourism policy and development within Greece's Ministry of Tourism, said the trend was unsurprising given the wide appeal the country already has among holidaymakers. "We have a lower cost of living, a great climate year-round, and we are iterating the program as needed," she said.
Anastasopoulou said that was "to protect the local real estate market and protect young people." But she added that the changes would be open to reevaluation and potential adaptation.Greece ranks among the world's leading "residence by investment" programs, according to theEuropean countries currently dominate the ranks of such indexes, scoring highly for processing times, quality of life and overall costs.
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