Key Benefits of the Greek Golden Visa

Key Benefits of the Greek Golden Visa

Μεταξύ των πιο ανταγωνιστικών επενδυτικών ορίων στην Ευρώπη

Following the amendment approved by the Parliament, effective April 2024, the minimum investment required for the Greek Golden Visa has risen to €800,000 (from €500,000) for Attica, Mykonos, Santorini, Thessaloniki, and islands with a population exceeding 3,000 residents. In other municipalities, the threshold has been raised to €400,000 (from €250,000). Moreover, the investment must be made in a single property, which must also have a surface area of 120 square meters or more.

Investors have the option to lease the properties they acquire, although they are prohibited from utilizing short-term leases. Moreover, in instances of conversion into a residence, using the property as a business headquarters or branch is not allowed.

Exceptions to the aforementioned modifications:

Opportunities arise with properties undergoing commercial-to-residential conversion or restoration of listed buildings, as the minimum real estate investment will stand at €250,000. 

Investors can continue to apply under the current thresholds of €250,000 and €500,000, with a 10% deposit required by August 30, 2024, and final investment to be completed by December 31, 2024.

Key Benefits of the Greek Golden Visa 

Among the most competitive investment thresholds in Europe.

Attain European residency, granting the freedom to reside in Greece or travel across the Schengen Area (encompassing 29 countries).

Residency extends to the entire family unit, including the spouse, children under 21 years old, and parents of the main applicant and spouse.

Secure investment in euros, ensuring stability.

No requirement to physically reside in Greece, in contrast to certain other countries' residency programs.

Residence permit has an indefinite validity. Upon obtaining the Golden Visa, investors receive a residence permit for 5 years, renewable for the duration of their investment.

Eligibility to apply for citizenship after seven years of residency. Possession of an EU passport grants the ability to live, retire, work, and study in Greece or any other EU member state, as well as enjoy visa-free travel to over 180 countries.

Immediate opportunity to lease out the investment property for additional income, limited to long-term leases.

Reside in a secure EU nation with reasonable living expenses and excellent living standards.

Profitable opportunities for future resale at elevated prices (within 5 years), with capital gains derived from real estate sales currently exempt from taxation.

Maintain tax residency status as the Greek Golden Visa program waives the obligation for investors to pay taxes on their worldwide income if they spend fewer than 183 days annually in Greece. Ιnvestors remain responsible for property-related taxes.