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The latest news on the Greek
residency by investment programme
Greece is making updates
to its popular Golden Visa program
On 21st of March 2024
Greece is making updates to its popular Golden Visa program that grants residency to foreign investors. The goal is to address the country’s housing shortage by discouraging real estate purchases solely for short-term rentals.
The government plans to raise minimum investment thresholds and prohibit Golden Visa properties from being listed on platforms like Airbnb.
Considering the last-minute decision to change the Greece Golden Visa, the government is also proposing a Transitional Period. If an investor purchases property in Greece under certain circumstances, they can still acquire the Greece Golden Visa at the €250,000 amount.
If a 10% deposit is submitted by August 31st 2024, and the investment is complete by December 31st 2024, a property purchase still qualifies for the €250,000 Greece Golden Visa.
In the case of the property purchase not being finalized by December 31st 2024, e.g.: in cases of developments, where the property is not delivered, fully built, and functional by the same date, then the investor is allowed to transfer the purchase to another property and complete the investment up until April 30th 2025. This exception also allows the Greece Golden Visa to remain at €250,000.
Key Points
Raise minimum investment thresholds
The government plans to raise minimum investment thresholds and
prohibit Golden Visa properties from being listed on platforms like Airbnb.
Discourage short-term rentals
If an investor purchases property in Greece under certain circumstances,
they can still acquire the Greece Golden Visa at the €250,000 amount.