Residency Permits Lure Rich Chinese to Greece

Buying properties in Greece became more popular earlier this year in China after it was highly recommended by immigration agents, because the financially troubled Greek government has introduced a policy to give permanent residency to any foreign buyer purchasing a Greek property worth more than ?250,000 (US$340,000), Guangzhou Daily, the official newspaper of the Guangzhou municipal party committee, reports. As Greece is one of the 27 European Union member states, and also one of the Schengen countries, permanent residency there applies to both the EU and the Schengen region. The good weather and beautiful landscape there, as well as the comparatively cheap properties prices, has spurred many wealthy Chinese nationals from places like Shanxi and Jiangsu to emigrate to Greece.

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