It’s Final. Major Update for Investors on Greek Golden Visa Program!
As of April 5th, the Greek Golden Visa Program has a new chapter. With the recent amendments now set in stone, the landscape for investors has shifted significantly. Here is a snapshot of the pivotal changes and their implications for your investment journey in Greece.
In Attica, Thessaloniki, Mykonos, Santorini, and islands with a population over 3100, the property value requirement rises to €800,000.
For those looking elsewhere in Greece, the investment threshold is a more accessible €400,000.
️The €250,000 limit remains for investments in heritage buildings, provided they are restored.
Investments in new properties acquired will not qualify for short-term rentals, including Airbnb.
Bypassing the New Investment Threshold!
Now, let’s talk about a little workaround within the new legislation. For those with an eye for opportunity and a penchant for transformation, properties undergoing a change of use to residential purposes offer a unique advantage. Despite the increased thresholds elsewhere, these converted dwellings hold steady at the previous investment requirement of €250,000. It’s a niche but a golden one for those ready to transform spaces and benefit from the previous, lower investment entry point.
Adjustment Period Details for Applicants
Third-country nationals who fulfill payment or pay a 10% deposit, sign a preliminary contract, or a private purchase agreement, showing the related credits by August 31, 2024, can complete their investment by December 31, 2024, under the current conditions.
In these cases, if the property purchase is not finalized, the investor may complete their investment in another property under the existing terms, but not after April 30, 2025.
