INQUIRER.net: Greece offers residence to foreign investors

INQUIRER.net Philippine News for Filipinos

Greece offers residence to foreign investors Apr 22nd 2013, 23:17 ATHENS—Greece will be offering residence to non-EU investors purchasing or renting property over 250,000 euros ($326,000), in a bid to revive its moribund real estate industry, officials said on Monday.   The initiative, voted into law by parliament last week, comes in response to strong demand from Arab, Chinese and Russian investors, the officials from the interior ministry and property groups told a news conference.   Valid for five years and open to renewal, the residence plan follows similar measures adopted by Hungary, Spain and Portugal in the past.   "Finally, the property market can move out of its paralysis a little," Stratos Paradias, hea... Keep on reading: Greece offers residence to foreign investors Media files: greece-daily-life.jpg (image/jpeg)

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