Greek golden visa: Amendment foresees increase of requirements in areas

The investment threshold for obtaining a golden visa are changing, in certain regions of Greece, with the amendment of the Ministry of Development and Investments submitted to a bill of the Ministry of Health.

The golden visa and the regions

The minimum value of the real estate has to be at least 500,000 euros at the time of its acquisition as well as the total contractual rent of the leases of hotel accommodation or tourist homes for the Regional Units of North, Central and South Athens Sector of the Attica Region, Mykonos, Santorini and the Municipality Thessaloniki.

This amount must be paid in full before submitting the request for the granting of the investor’s permanent residence permit.

In the case of the investment through the purchase of real estate in the above areas, it is carried out in a single property.

In the case of an indivisable jointly owned property, then the minimum value of the co-ownership percentage is 500,000 and the investment is made in a single property.

Residence permit renewal

For the rest of the country, the minimum value of the property is set at 250.00 euros.

Citizens of third countries – holders of a permanent investor residence permit can renew their residence permit for the same duration as long as the property remains in their ownership and the period of their absence from the country is not a problem.

Also, for citizens of third countries who own real estate, there are provisions of renting these.

The issuance of a residence permit is granted within two months of completing the file.

Third-country nationals have until 31 December 2023 to complete ongoing contracts for the areas where minimum values are changing.