The Greece Golden Visa program, renowned for offering residency through investment, has recently undergone significant revisions announced by the Prime Minister of Greece. These changes, slated to take effect by May 2024, introduce new investment thresholds and zoning classifications, potentially impacting prospective investors eyeing Greece’s Golden Visa opportunity.
Introduced in 2013, the Greece Golden Visa program initially required a minimum real estate investment of EUR 250,000, granting investors a renewable five-year residency permit. However, in January 2023, the Greek Government increased this minimum investment to EUR 500,000.
KEY CHANGES IN GREEK GOLDEN VISA REQUIREMENTS
Increased Minimum Investment: The minimum investment amount for residency has been raised from €250,000 to €500,000.
Zoned Investment Thresholds: Investments now vary based on location, with distinct zones having different minimum investment amounts.
Prime Locations (Zone A): In areas like Athens, parts of Attica, Thessaloniki, Mykonos, and Santorini, the minimum investment for residency is now set at EUR 800,000, reflecting premium real estate values.
Balanced Opportunities (Zone B): Zone B offers a moderate investment requirement ranging from EUR 400,000 to EUR 500,000, encompassing regions with desirable attributes but lower real estate values compared to Zone A.
Accessible Residency (Zone C): The minimum investment threshold remains at EUR 250,000, covering the majority of municipalities in Greece and providing more affordable real estate options.
BEYOND RESIDENCY: BENEFITS OF GREECE INVESTOR VISA
Aside from residency, the Greece Investor Visa program offers various advantages, including visa-free travel within the Schengen Zone, access to Greece’s education and healthcare systems, tax benefits, minimal residency requirements, and eligibility for citizenship after 7 years, subject to meeting residency and language criteria. The program also extends benefits to three generations of dependents, including spouses, children under 21, and parents of the investor and spouse. Moreover, processing times are typically fast, ranging from 6 to 9 months.
INVESTING IN GREECE FOR RESIDENCY
Investing in Greece for residency through the Golden Visa program presents an appealing opportunity for individuals and families aiming to establish themselves in Europe. Whether attracted to the urban vibrancy of Athens, the scenic allure of Greek islands, or the cultural richness of Thessaloniki, Greece offers diverse and enticing options for investors.
FOR MORE INFORMATION
For those interested in Greece Residency by Investment, inquiries can be directed to Harvey Law Group at contact@harveylawcorporation.com. Additionally, other residency and citizenship by investment programs such as the Portugal Golden Visa or the Spain Golden Visa are also available for consideration.
