The investment threshold for obtaining a “Golden Visa” through real estate purchase in Greece currently stands at €250,000 in certain areas of Athens. However, the government has approved an increase:
• €800,000 in all of Attica (including Athens and its suburbs, as well as Piraeus), Thessaloniki, and islands with a population of more than 3,100 people, such as Santorini, Mykonos, Rhodes, Crete, and others.
• €400,000 in the rest of Greece.
A grace period allows investors to take advantage of the old rules if they make a 10% reservation deposit for an apartment by August 31 and fully pay by December 31, 2024.
The “Golden Visa” program in Greece offers several benefits:
• Residency for three generations of a family.
• Freedom of movement within the Schengen Area.
• Access to accounts in European banks and the ability to unfreeze accounts.
• No residency requirements to maintain the residency permit.
• A realistic opportunity to obtain citizenship after 7 years of residency in Greece.
• Education for children in European schools and universities.
• Access to healthcare services.
Investors should act quickly to take advantage of the current investment threshold before it increases significantly. This presents an opportunity to secure residency in a beautiful and culturally rich European country with a relatively low investment.
