The Greek ministry of Migration and Asylum has announced the suspension of issuance or renewal of residence permits for investment purposes for citizens of the Russian Federation until further notice.

The issuance and renewal of residence permits of investment interest and purpose that are under consideration and come from citizens of the Russian Federation is suspended until further notice. In addition, the competent authorities will not accept new requests for the issuance of the aforementioned residence permits.

At the same time, no applications for residence permits of the category “business executives” for citizens of the Russian Federation will be considered until further notice” the announcement said.

The Greek government also said that Greece is currently awaiting relevant EU decisions.

According to the latest data from Enterprise Greece, Greece has granted about 1700 residence permits to investors from Russia, who used the “golden visa” program and to members of their families.

Two days earlier, Portugal announced a similar decision.

“​The Immigration and Border Service (SEF) has suspended the appreciation of any dossier of candidacy for authorisation of residency through investment, commonly known as golden visas, for Russian citizens”, the minister of Foreign Affairs, Augusto Santos Silva confirmed, adding that the same goes for any ‘golden visa’ candidacies from Bielorussian citizens.