Greece extends deadline to finalize Golden Visa applications under previous rules

The Greek Golden Visa program underwent significant reforms in 2024. These changes included increases in minimum investment amounts for real estate, as well as new requirements aimed at addressing the country’s housing crisis.

However, Greek authorities announced last month an extension of the deadline for certain investors, allowing them to complete their transactions under the previous regulations until February 28, 2025, provided they made a deposit of 10% of the property’s value before August 31 of last year.

The transitional period, initially set for December 2024, has been extended as part of a strategy to encourage foreign investment in a market marked by rising real estate prices.

The Greek Golden Visa program remains one of the most popular options for international investors, showcasing its appeal with impressive statistics: just last month, there were 12,577 applications submitted, a notable 12% increase compared to the 11,229 applications filed in October 2023.

Comparison Between Previous and Current Investment Amounts

Before the 2024 reforms, the minimum investment required to access the residency-by-investment program was €250,000. This figure was particularly attractive to international investors seeking access to the European Union at a competitive cost. Following the reforms, the new minimums are significantly higher:

  • €800,000: Applies to key areas such as the Attica region (including Athens), Thessaloniki, Mykonos, Santorini, and other islands with more than 3,100 residents.
  • €400,000: Applies to properties in the rest of the Greek territory.

Additionally, investors are now required to purchase a single property of at least 120 square meters, eliminating the previous option to spread the investment across several smaller properties.

Despite these increases, the €250,000 minimum remains in place for certain exceptional cases, such as:

  • Investments aimed at restoring historic buildings.
  • Acquisition of industrial or commercial properties with the intent to convert them into residential spaces.

Transitional Period Details

As previously mentioned, the reform included a transitional period for investors who deposited 10% of the total investment amount before August 31, 2024.

These investors originally had until last December to finalize their investments under the old rules. Now, the deadline has been extended to the end of February 2025.

Investors who fail to meet their obligations by this date will lose their Golden Visa eligibility and will have to restart the process under the new, higher investment thresholds.

Invest in the Greek Golden Visa with AIM Global

For those seeking to take advantage of this window of opportunity, AIM Global offers comprehensive advisory services designed to guide clients through every step of the process.

Our team of experts provides support in identifying properties, meeting legal requirements, and adapting to the new regulations.

Please contact us today to begin your journey toward European residency.

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