Europe’s most popular residence-by-investment program for three of the last four years, the Greek Golden Visa offers visa-free travel throughout the Schengen area, as well as settlement rights in Greece itself.
While applicants may choose from a wide array of asset classes, the great preponderance prefer to qualify by investing at least EUR 250,000 in real estate on the open Greek market.
Unlike other programs, the Greek golden visa doesn’t stipulate different prices for specific areas or property types; any type of property, new or old, in Athens or in a smaller municipality is in principle eligible as long as the value exceeds the minimum investment requirement.
– Investment requirements
– Investment options
– Processing time
– Physical presence requirements
– Program statistics
– Path to citizenship
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Short-term rental is forbidden, but investors can qualify at EUR 250,000 throughout the country by renovating or converting properties.
Officials are reportedly debating whether to include a ban in the new set of real estate rules it plans to bring to parliament “next week.”
Fund investments become cheaper and are likely to become more popular with the expected introduction of higher real estate minimums.
“The most likely scenario is now a EUR 400,000 threshold for most of Greece, and EUR 800,000 in places like Athens,” says Alexander Varnavas.
The news is likely to vex golden visa developers who had pivoted to neighborhoods near – but not within – Athens, like Piraeus.
PM Mitsotakis will also consider the opposition’s proposal to oblige golden visa investors to put their properties up for long term rental.
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