Navigating the Greek Golden Visa Program: Understanding the Latest Changes

The allure of European residency through investment has propelled Greece’s Golden Visa program to the forefront of investor considerations. As of early 2024, the Greek government has introduced significant revisions to this sought-after program, aiming to streamline investment opportunities and stimulate economic growth. For potential investors eyeing Greece as a destination for residency, understanding these changes is paramount. Here’s a comprehensive guide to navigating the new landscape of the Greek Golden Visa program.

Significant Changes with the New Rule:
The pivotal amendment to the Greek Golden Visa program revolves around the introduction of a dual-zone system for real estate transactions. Expected to come into effect on March 31, 2024, this update delineates two investment tiers based on geographic zones, each with distinct minimum investment requirements.

Tier 1 | 800,000 EUR: This tier encompasses prime locations such as Attica, Thessaloniki, Mykonos, Santorini, and select islands with a population exceeding 3,100. Investors targeting properties in these high-demand areas will be required to commit a minimum investment of 800,000 EUR.

Tier 2 | 400,000 EUR: Covering the remaining regions of Greece, Tier 2 offers a more accessible entry point with a minimum investment threshold of 400,000 EUR. The aim is to incentivize investment in a broader spectrum of locales, thereby diversifying economic benefits across the country.

Both tiers mandate investment in a single property spanning at least 120 square meters, ensuring a substantive contribution to the real estate market.

Impact on Previous and Current Applicants:
Crucially, the implementation of the revised program will not retroactively affect existing or pending applications for the Greek Golden Visa. Applicants who have already initiated the process need not fear any disruption or alteration to their status. Investments made under the previous regulations will proceed unhindered, safeguarding the commitments of early participants in the program.

The Verdict:
With an anticipated rollout date of March 31, 2024, the revised Greek Golden Visa program heralds a new era of investment immigration in Greece. Investors have until September 30, 2024, to initiate applications under the existing 250,000 EUR threshold, with final investments due by December 31, 2024, and property completions by April 30, 2025.

Furthermore, initiatives such as property conversion and restoration projects offer compelling opportunities for investors to engage with the program at the preserved 250,000 EUR threshold, highlighting the government’s commitment to fostering diverse investment avenues.

Looking Ahead:
The evolution of the Greek Golden Visa program underscores a forward-looking strategy aimed at enhancing the program’s economic and cultural impact. By encouraging investment beyond traditional hotspots, Greece seeks to unlock the latent potential of its diverse regions, fostering sustainable growth and preservation of its cultural heritage.

As Greece positions itself as a premier destination for residency through investment, the revised Golden Visa program reflects a commitment to innovation and inclusivity. With expert guidance from agencies like Get Golden Visa, investors can navigate these changes seamlessly, unlocking the myriad opportunities offered by Greece’s rich cultural tapestry and vibrant real estate market.

Disclaimer :

The information provided in this article regarding the Greek Golden Visa program is intended for general informational purposes only. While efforts have been made to ensure the accuracy and reliability of the content, it should not be construed as legal or financial advice. Please note that immigration policies and regulations are subject to change, and the details of the Greek Golden Visa program may evolve over time. Readers are encouraged to consult with qualified legal or financial professionals for personalized guidance tailored to their specific circumstances and investment goals.Additionally, the opinions expressed in this article are those of the author(s) and do not necessarily reflect the views of any specific organization or entity mentioned. Any reliance you place on the information provided is strictly at your own risk.We disclaim any liability for any loss or damage arising directly or indirectly from the use of or reliance on the information presented in this article. We recommend conducting thorough research and seeking professional advice before making any investment or immigration decisions.


Kioleoglou Konstantinos REV

Civil Engineer, N.T.U.A

MSc in Structural Engineering, N.T.U.A

MSc in Real Estate Investment and Finance, Heriot Watt University

Recognised Expert Property Valuer & European Valuer ,Tegova