Golden Visa Reforms: Where the €250,000 Threshold Still Applies

12:54 20/1/2025 - Πηγή: Dikaiologitika

High-demand areas, including Thessaloniki, Mykonos, Santorini, the Region of Attica, and islands with populations over 3,100 residents, now require a minimum investment of €800,000.

With less than 60 days remaining until the February 28, 2025 deadline, investors have limited time to take advantage

of Greece's extended Golden Visa program under the previous thresholds of €250,000 and €500,000. This critical extension allows those who signed pre-contracts and made 10% down payments by December 31, 2024, to finalize their transactions despite earlier delays. As the deadline approaches, the urgency to complete agreements is rising, securing residency and capitalizing on Greece's real estate opportunities.

The Greek government has introduced a crucial extension for its Golden Visa program, allowing investors to finalize transactions under the previous investment thresholds of €250,000 and €500,000 until February 28, 2025. This move addresses the concerns of thousands of investors who had already made 10% down payments and signed pre-contracts but faced delays in completing their purchases due to logistical and procedural challenges.

This extension applies exclusively to investors who have signed pre-contracts and made the required down payments by December 31, 2024. The additional time is intended to facilitate the completion of purchase agreements, reduce the risk of legal disputes, and maintain liquidity in the real estate market. By doing so, the government aims to secure ongoing financial inflows, bolster investor confidence, and reinforce Greece’s reputation as a prime destination for foreign investment.

The Golden Visa program has recently undergone significant reforms. Under the updated regulations, the minimum real estate investment threshold has risen to €400,000 for most parts of Greece. High-demand areas, including Thessaloniki, Mykonos, Santorini, the Region of Attica, and islands with populations over 3,100 residents, now require a minimum investment of €800,000. These changes reflect the government’s efforts to adapt the program to current market conditions while continuing to attract high-value investors.

In light of these changes, foreign investors are shifting their focus to regions where the €250,000 threshold still applies. Areas such as Athens, Chalkida, Corinth, Nafplio, and Patras are gaining popularity due to their comparatively lower investment requirements. Within Athens, interest remains strong in the southern suburbs, where luxury homes already exceed the previous thresholds, particularly for properties larger than 120 square meters subject to the new €800,000 minimum.

To further enhance the program’s appeal, Greece has expanded its scope to include investments in startups registered on the Greek National Startup Registry, Elevate Greece. A minimum investment of €250,000, coupled with job creation requirements, provides an alternative pathway for entrepreneurial investors seeking residency. This addition underscores Greece's commitment to fostering innovation and attracting global talent.

Chinese investors continue to dominate Greece’s Golden Visa program, accounting for over half of all applications. As of October 2024, data from the Ministry of Migration Policy shows 6,521 applications from Chinese nationals, representing 51.85% of the total. Turkish investors rank second with 1,115 applications (8.87%), followed by Lebanese, British, and Iranian nationals.

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