Greece Golden Visa: Extended Grace, New Investments

Greece Golden Visa: Extended Grace, New Investments

On March 29th, the Hellenic Republic Parliament made a significant decision impacting the Greece Golden Visa program. The extension of the transitional/grace period, until July 31st, 2023, allows potential investors more time to secure a property in Athens with a minimum investment of 250,000 EUR.

New Investment Landscape: Previously, Prime Minister Kyriakos Mitsotakis announced on September 10th, 2022, that the minimum investment amount for property acquisition under the Golden Visa program would be raised to €500,000 in specified regions. These regions are outlined on our map, providing clarity for prospective investors.

Transitional Period Opportunities: Investors who purchase property in the affected regions and have already paid a 10% deposit before July 31, 2023, can finalize their property contracts until December 31, 2023, still qualifying under the previous 250,000 EUR scheme.

Broader Changes to Golden Visa Program: Beyond property investments, the Golden Visa program undergoes additional amendments. The minimum investment in Term Deposits and Bonds, currently set at 400,000 EUR, is slated to increase to 500,000 EUR in January 2024.

Conclusion: These changes mark a pivotal moment for the Greece Golden Visa program. Investors are urged to navigate these adjustments strategically, considering the extended grace period and the impending alterations to investment thresholds in various asset classes.

By staying informed and making timely decisions, prospective Golden Visa participants can capitalize on the current opportunities and position themselves advantageously in this evolving investment landscape.