Following the amendment passed by the Parliament, effective from April 2024, the minimum required investment for the Greek Golden Visa was increased to 800,000 euros (from 500,000 euros) for Athens, Mykonos, Santorini, Thessaloniki, and islands with a population exceeding 3,100 residents.
In other cities, the threshold was raised to 400,000 euros (from 250,000 euros). Additionally, the investment must be made in only one property, which must also have an area of 120 square meters or more.
Investors have the option to lease the properties they acquire, although short-term leases are prohibited. Furthermore, in cases of conversion into a residence, the use of the property as the headquarters or branch of a business is not allowed.
The benefits of the Golden Visa
– The Greek Golden Visa is among the most competitive investment thresholds in Europe.
– Having an EU residency that provides the freedom to reside in Greece and travel throughout the Schengen Zone (29 countries).
– This residency extends to the entire family, including spouse, children under 21, and the main applicant’s parents and spouse.
– The Greek Golden Visa program provides a secure investment in euros, ensuring investment stability.
– There is no requirement for physical residency in Greece, unlike residency programs in some other countries.
– The Golden Visa Residence Permit has unlimited validity. With the Golden Visa, investors have a residence permit for 5 years, which can be renewed as long as they maintain their investment.
– Having the right to apply for citizenship after seven years of residency. Holding an EU passport allows one to live, retire, work, and study in Greece or any other EU member state, as well as travel visa-free to more than 180 countries.
– Immediate opportunity to lease the investment property for additional income, limited to long-term leases.
– Being a resident in a secure EU state with reasonable living expenses and an excellent standard of living.
– Having opportunities for future resale at increased prices, with capital gains from property sales currently exempt from taxation.
– Maintaining a special tax residency status, as the Greek Golden Visa program exempts investors from the obligation to pay taxes on their worldwide income if they spend less than 183 days annually in Greece. Investors pay taxes related to properties.
Law Office Stathaki can help you apply for a Golden Visa/ investor’s residence permit and navigate this process with professional and to-the-point advice. Contact us today here.
