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Greece Golden Visa

Property Investment from €250,000

GREECE - GOLDEN VISA

Comprising a mainland on the Balkan peninsula and a plethora of islands scattered across the Aegean and Ionian seas, Greece has emerged as a prominent European business hub and a premier global holiday destination.

The allure of Greece lies not only in its balmy Mediterranean climate and famed gastronomy but also in its cosmopolitan cities, pristine beaches, and the genuine warmth of its local traditions and hospitality. Consequently, many discerning individuals have chosen Greece as their second home.

As a member state of the EU, Greece offers its residents and citizens a number of reassuring benefits including high levels of safety and security, excellent education opportunities, robust healthcare options, and a dependable rule of law.

Greece Implements Revised Golden Visa Programme – Effective from September 1st, 2024

Greece’s updated Golden Visa programme has officially come into effect, introducing significant changes to how foreign investors can obtain residency through property investment.

Key Changes to the Golden Visa Programme:

Two Investment Tiers: €800,000 and €400,000 Minimums The new regulations have introduced a tiered system for investment based on property location:

  • €800,000 Investment Zone: This higher threshold applies to high-demand areas such as the entire Attica region (including Athens), Thessaloniki, and popular islands like Mykonos, Santorini, Crete, and several others.
  • €400,000 Investment Zone: For properties located outside these prime areas, the minimum investment is set at €400,000.

Investment Criteria:

  • Single Property Requirement: Investors must purchase a single property of at least 120 square meters.
  • Use Restrictions: Properties purchased under the Golden Visa cannot be used for short-term rentals (e.g., Airbnb). Violating this rule can result in the cancellation of residency and a €50,000 fine.

Exceptions to the New Golden Visa Rules:

Despite the new investment thresholds, some types of properties still qualify for the previous €250,000 minimum:

  • Commercial to Residential Conversions: Properties that are converted from commercial to residential use can still qualify under the €250,000 investment threshold.
  • Restoration of Listed Buildings: Properties classified as listed buildings and undergoing full restoration by the investor also remain eligible for the €250,000 minimum.

Transitional Period:

For investors who started the process under the previous rules, there is a transitional period in place:

  • Investors who signed a pre-contract and made a 10% deposit by August 31st, 2024, can still qualify for the €250,000 threshold, provided the purchase is completed by December 31st, 2024.
  • If the purchase isn’t finalized by the end of 2024, the investor can transfer their investment to another property, as long as the acquisition is completed by April 30th, 2025.

Investor Considerations:

At this stage, properties that qualify for the €250,000 threshold are scarce. However, new qualifying projects are expected to launch soon. Given the high demand and limited availability, it is advisable to act quickly if you are looking to secure a Golden Visa at the €250,000 level. Stay updated by checking our website for news.

GREECE GOLDEN VISA BENEFITS

  • Visa-free travel within Europe’s Schengen Area
  • No requirement to reside in Greece
  • Residence permits can be acquired within 90–120 days
  • Unlimited expiry date of residence permit
  • Opportunity to rent out the investment property
  • Residence applicable to the whole family (married spouse, children under 21 years old, and parents of the main applicant and spouse)
  • Eligibility to apply for citizenship after seven years of residence
  • Ability to hold shares and receive income from the dividends of a company registered in Greece (but not to be employed in Greece)

REQUIREMENTS OF THE GREECE GOLDEN VISA PROGRAM

Real Estate Options

  • Investment of €800,000 in a single property with a minimum area of 120sqm in Athens, regional units of Thessaloniki, the islands of Mykonos and Santorini, and those islands with more than 3,100 inhabitants
  • Investment of €400,000 in a single property with a minimum area of 120sqm in all other regions of Greece
  • Investment of €250,000 in the acquisition and full restoration of a property in listed buildings of historical and cultural importance
  • Investment of €250,000 in a commercial/industrial property to be converted for residential use – the conversion must be completed before the submission of the application.
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SCHENGEN TRAVEL COUNTRIES

VISA COMPARISONS

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WHY USE RESIDENCY INVEST FOR YOUR GREECE GOLDEN VISA?

Holding period of real estate

Necessary to maintain and renew residence permit

Type of ownership

Sole or shared ownership

Minimum real estate investment

EUR 250,000

Rental income opportunity

2.5–4.5% on residential property 5–7% on commercial property

VISA FREE TRAVEL TO 26 SHENGEN COUNTRIES

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Belgium Greece Luxembourg Slovenia
Czech Republic Hungary Malta Spain
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