{"id":43997,"date":"2024-05-16T15:40:53","date_gmt":"2024-05-16T11:40:53","guid":{"rendered":"https:\/\/www.savoryandpartners.com\/?p=43997"},"modified":"2024-05-16T15:40:53","modified_gmt":"2024-05-16T11:40:53","slug":"greece-golden-visa-new-rules","status":"publish","type":"post","link":"https:\/\/old.savoryandparnters.com\/blog\/greece-golden-visa-new-rules\/","title":{"rendered":"Greece Golden Visa New Rules: Property Investment Latest Changes"},"content":{"rendered":"

Greece Golden Visa new rules have been officially <\/span>announced<\/span> by<\/span> T<\/span>he Greek<\/span> governmen<\/span>t. The<\/span> government has<\/span> decided to implement a second price change to its <\/span>Golden Visa<\/span> in as many years<\/span>. <\/span>This time, however, the price change will <\/span>impact<\/span> all of <\/span>Greece, unlike the <\/span>previous<\/span> revision, which<\/span> on<\/span>ly <\/span>raised<\/span> prices in <\/span>specific<\/span> locations such<\/span> Athens, Thessaloniki, Santorini, Varos, and Mykonos increase.<\/span><\/span><\/p>\n

After weeks of speculation, the government has officially unveiled revised investment thresholds for its highly sought-after <\/span>golden visa program,<\/span><\/a> focused on real estate. <\/span>\u00a0<\/span><\/p>\n

Finally, the Ministry of Finance has laid out the revised regulations, awaiting Parliamentary approval. Given the governing majority, significant alterations to the proposed legislation seem improbable. It\u2019s expected that these adjustments will be enacted by the end of September, providing an opportunity for prospective applicants to captalise on the current rates.<\/span>\u00a0<\/span><\/p>\n

The updated guidelines establish two distinct tiers of investment zones. The<\/span> first tier <\/span><\/b>mandates a minimum investment of EUR 800,000, encompassing the Administrative Region of Attica, including Piraeus, and most of the capital region, alongside the Regional Units of Thessaloniki, Mykonos, Santorini, and islands with a population exceeding 3,100 inhabitants.\u00a0<\/span>\u00a0<\/span><\/p>\n

These alterations are going to be enforced by 30<\/span>th<\/span> of September 2024, granting potential applicants a grace period to submit their applications under the current regulations.<\/span>\u00a0<\/span><\/p>\n

In this piece, we will explore the nuances of the changes and how investors can apply before the price changes are implemented by the Greek government.<\/span><\/p>\n

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What are Greece Golden Visa New Rules?\u00a0<\/strong><\/em><\/h2>\n

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The Greek government has officially announced the revised real estate investment thresholds for its highly popular golden visa program. After weeks of anticipation and speculation, the Ministry of Finance presented the new rules, which are now set to be voted upon in Parliament. With a majority in the assembly, it is unlikely that substantial changes will be made to the proposed legislation.<\/span>\u00a0<\/span><\/p>\n

Under the new regulations, Greece will have two types of zones for golden visa investments. <\/span>The first tier<\/span><\/b> requires a minimum investment of EUR 800,000 and applies to the Administrative Region of Attica, which includes Piraeus and the majority of the capital region, as well as the Regional Units of Thessaloniki, Mykonos, Santorini, and islands with a population of over 3,100 inhabitants.<\/span>\u00a0<\/span><\/p>\n

The second tier<\/span><\/b> marks the minimum investment threshold at EUR 400,000 and is applicable to all other areas of Greece. The entire investment must also be allocated to a single property, which must have a minimum area of 120m\u00b2.<\/span><\/p>\n

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\u00a0Don’t miss: Why Greece Golden Visa Price Hike Makes Sense<\/span><\/strong><\/em><\/a><\/p>\n


\nWhat are the Two Exceptions Offered by the Greek Government for Golden Visa Investment?<\/strong><\/em><\/h2>\n

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However, the government has introduced two exceptions to the EUR 400,000-800,000 range.<\/span>\u00a0<\/span><\/p>\n

Investors can qualify with a minimum investment of EUR 250,000 in two cases: <\/span><\/p>\n