Investors eyeing European residency through investment often consider the Greece Golden Visa Program as a top choice. Recently, the Greek Government announced revisions to the program, effective August 31, 2024, potentially impacting prospective investors.
Key Updates in Greece Golden Visa Program
The revised program introduces a dual-zone system for real estate transactions, categorizing investments into two tiers based on geographic zones. This update directly affects the minimum investment requirements for applicants.
Tier 1 | 800,000 EUR:
Investments in high-demand areas like Attica, Thessaloniki, Mykonos, Santorini, and populous islands now require a minimum investment of 800,000 EUR.
Frequently Asked Questions: The program is set to raise the minimum investment to 800,000 EUR for select regions, while maintaining a 400,000 EUR threshold for others.
Tier 2 | 400,000 EUR:
For regions beyond Tier 1, the minimum investment is set at 400,000 EUR, encouraging investment in a broader range of areas and stimulating economic growth.
Investment Requirements for Both Tiers:
Applicants must invest a minimum of 120 square meters in a single property, regardless of the tier they choose to invest in.
Impact on Existing Applicants:
The changes will not affect existing applications or investments made under previous regulations. There are no retroactive effects on investments made before the implementation date.
Looking Ahead Greece Golden Visa:
The updates aim to meet market demand and foster a balanced investment landscape. Additionally, initiatives for property conversion and restoration provide unique opportunities for investors. The two-tier system encourages exploration beyond high-demand areas, highlighting regions with untapped cultural and economic potential.
Connect with a Greece Golden Visa Advisor:
As a comprehensive investment immigration agency with a local presence in Thessaloniki, Greece, we offer end-to-end solutions for residency and citizenship by investment. Our experienced team is ready to assist investors in navigating the Greece Golden Visa Program and seizing real estate opportunities.
Invest wisely before the changes take effect. Contact us today to explore your options and secure your investment.
For detailed information, please visit the official website of the Greek government: https://migration.gov.gr/en/golden-visa/
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