From March 31, 2024, Greece has made changes to its Golden Visa program, which grants residency to foreign investors. Here are the key updates:
- Higher Minimum Investments:
- In specific areas like Athens, Mykonos, Santorini, and islands with over 3,100 people, the minimum investment has doubled from $541,327 to $866,180.
- For other regions in Greece, the minimum investment has increased from $270,663 to $433,062.
- Exceptions:
- The old minimum threshold of $270,663 still applies to properties undergoing commercial-to-residential conversion or listed building restorations.
- Transitional Period:
- Investors with pre-contracts or agreements signed by September 30, 2024, with minimum investments of $270,663 or $541,327 (depending on location), can still qualify under the old rules if they complete the investment by December 31, 2024.
These changes aim to make the Golden Visa program more selective and encourage investment in higher-value properties.
Greece Golden Visa, Visa rule changes, March 31 update, Residency permits, Foreign investors