Over 2,500 (!) applications, submitted to the ministry with paid taxes, fees, and completed investments exceeding €2 billion, are gathering dust in drawers.
For more than a year now, the Golden Visa program, the scheme that brought billions of euros into the state coffers through investments, has stalled. Not by accident or incompetence, but seemingly as a political choice. And while bureaucracy “delays,” the Hellinikon project continues to sell like hotcakes.
From Kapsivis to Voridis, and now Plevris: The school of inertia
If inertia had a political manual, it would have been written in the offices of the Ministry of Migration Policy. From Dimitris Kapsivis to the current tenure of Thanos Plevris, the renowned Golden Visa remains in administrative limbo.
Over 2,500 (!) applications, submitted with taxes, fees, and fully completed investments exceeding €2 billion, are stagnating in drawers. The same government that once promoted the program as a “pillar of growth” now acts as if it doesn’t exist.
“The Golden Visa hasn’t been delayed—it has simply ceased to exist politically.”
The silent deal
Perhaps because while investors wait for their approvals, the country’s “big project”—the Hellinikon—is being sold without competition. Somewhere amid non-papers, internal memos, and announcements of “record investments,” there seems to be a silent deal between ministries: a plan that combines delay with political savvy.
“As long as Golden Visa applications remain pending, no one interferes with the Hellinikon sales.”
The stuck needle is no longer the responsibility of a single ministry. It’s a vicious game of hot potato between Thanos Plevris and Takis Theodorikakos. The two ministers exchange non-papers, correspondence, and memos, which never go anywhere. They only admire reports in their drawers, keeping the Golden Visa frozen as long as necessary.
The methodical law changes
Meanwhile, the government systematically modifies the Golden Visa law, repeatedly raising the investment threshold—from €250,000 to €400,000, and now over €800,000—under the pretext of “market protection.” In practice, however, this increase benefits major investors in Hellinikon, where apartment prices start at €600,000.
“The government changes the Golden Visa laws, but never enforces them.”
And as if that weren’t enough, the new legislative regulations passed by the same government remain on paper. No circulars are issued, procedures are not implemented, nothing moves. The result is the same: frozen applications, endless waiting, and an “investment success” narrative serving specific interests.
This is not dysfunction; it is orchestration.
A carefully planned delay tactic ensures the market is steered exactly where it should go—toward Hellinikon.
The silent success story
And while the Golden Visa stagnates, one minister after another rushes to Hellinikon to applaud new sales, praising a private project as if it were a national achievement.
The Mitsotakis government has found the perfect combination: it collects billions from investors waiting for their visas, while simultaneously celebrating the “investment miracle” of Hellinikon.
“Clever? Undoubtedly. Ethical? That’s debatable.”
When the “golden visa” becomes a tool of delay and waiting turns into a political strategy, this is no longer about development. It’s about a well-orchestrated silence, so golden it shines—just like the lights of Hellinikon.
www.bankingnews.gr
From Kapsivis to Voridis, and now Plevris: The school of inertia
If inertia had a political manual, it would have been written in the offices of the Ministry of Migration Policy. From Dimitris Kapsivis to the current tenure of Thanos Plevris, the renowned Golden Visa remains in administrative limbo.
Over 2,500 (!) applications, submitted with taxes, fees, and fully completed investments exceeding €2 billion, are stagnating in drawers. The same government that once promoted the program as a “pillar of growth” now acts as if it doesn’t exist.
“The Golden Visa hasn’t been delayed—it has simply ceased to exist politically.”
The silent deal
Perhaps because while investors wait for their approvals, the country’s “big project”—the Hellinikon—is being sold without competition. Somewhere amid non-papers, internal memos, and announcements of “record investments,” there seems to be a silent deal between ministries: a plan that combines delay with political savvy.
“As long as Golden Visa applications remain pending, no one interferes with the Hellinikon sales.”
The stuck needle is no longer the responsibility of a single ministry. It’s a vicious game of hot potato between Thanos Plevris and Takis Theodorikakos. The two ministers exchange non-papers, correspondence, and memos, which never go anywhere. They only admire reports in their drawers, keeping the Golden Visa frozen as long as necessary.
The methodical law changes
Meanwhile, the government systematically modifies the Golden Visa law, repeatedly raising the investment threshold—from €250,000 to €400,000, and now over €800,000—under the pretext of “market protection.” In practice, however, this increase benefits major investors in Hellinikon, where apartment prices start at €600,000.
“The government changes the Golden Visa laws, but never enforces them.”
And as if that weren’t enough, the new legislative regulations passed by the same government remain on paper. No circulars are issued, procedures are not implemented, nothing moves. The result is the same: frozen applications, endless waiting, and an “investment success” narrative serving specific interests.
This is not dysfunction; it is orchestration.
A carefully planned delay tactic ensures the market is steered exactly where it should go—toward Hellinikon.
The silent success story
And while the Golden Visa stagnates, one minister after another rushes to Hellinikon to applaud new sales, praising a private project as if it were a national achievement.
The Mitsotakis government has found the perfect combination: it collects billions from investors waiting for their visas, while simultaneously celebrating the “investment miracle” of Hellinikon.
“Clever? Undoubtedly. Ethical? That’s debatable.”
When the “golden visa” becomes a tool of delay and waiting turns into a political strategy, this is no longer about development. It’s about a well-orchestrated silence, so golden it shines—just like the lights of Hellinikon.
www.bankingnews.gr
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