Greece Golden Visa: New Investment Requirements and Important Deadline (April 2024)

Are you considering applying for the Greece Golden Visa program? Be aware of some recent changes to the investment requirements and a critical deadline approaching.

Increased Minimum Investment Based on Location

The program now implements a tiered system for minimum investment amounts. This means the amount you need to invest depends on the location of the property you choose.

• High-Demand Areas: In popular destinations like Athens, Thessaloniki, Mykonos, Santorini, and some islands with over 3,100 residents, the minimum investment has increased significantly to €800,000.

• Other Areas: Throughout the rest of Greece, the minimum investment is now €400,000, which is still higher than the previous €250,000 threshold.

Changes to Property Requirements

There are also new regulations regarding the property itself:

• Minimum Property Size: The minimum property size for Golden Visa purposes is now 120 square meters.

• Single Property Purchases: Investors can only purchase one property to qualify for the Golden Visa.

Rental Restrictions

If you plan to rent out your property, be aware of these new limitations:

• Long-Term Contracts Only: Properties obtained through the Golden Visa program can only be rented through long-term contracts.

• Sub-Leasing and Short-Term Rentals Not Permitted: Sub-letting and short-term rentals are not allowed under the program.

Important Deadline to Qualify for Previous Requirements

There's a crucial deadline to consider if you want to qualify under the previous Golden Visa procedures with the €250,000 minimum investment. To be eligible, you must:

• Make a 10% deposit on the property by August 31st, 2024.

• Pay the remaining balance by December 31st, 2024.

If you miss these deadlines, the new investment requirements will apply to your application.

Considering these changes and the upcoming deadline is essential before embarking on your Greece Golden Visa journey.