Golden Visa Prerequisites
New Investment Prerequisites for obtaining Greece’s Golden Visa:
The Greek Government has recently approved significant amendments to the Golden Visa admission rules, by virtue of article 64 of Law n. 5100/2024.
This Law brings significant alterations to the program’s structure and criteria, allowing a short transition period for applicants who wish to benefit from the previous regime, as it is portrayed below:
The minimum eligible real estate investment is increased to €400,000 in whole Greece (from €250,000).
In specific zones [Attica, Thessaloniki, Mikonos, Santorini and islands with sizable populations (>3,100)] the minimum eligible real estate investment now stands at €800,000.
Single Property Mandate: In compliance with the revised regulations, investment through real estate acquisition must be exclusively directed towards a single property. Further, this property must now have a minimum surface area of 120 square meters.
Special Provisions: Special provisions in the amendment allow to obtain the Golden Visa with a lower investment. Notably, an applicant may obtain the Golden Visa with a minimum threshold of €250,000 by investing in a commercial property (such as office spaces) to be converted for residential use. The investment of €250,000 also applies for an investment in a listed building, provided that its restoration will follow (offering an incentive for the preservation of architectural heritage and promoting sustainable development).
Restrictions of the new Law: Properties acquired under the new Golden Visa program cannot be leased under a short-term rental. Non-compliance may result in permit revocation and financial penalties.