Doubling the investment on the Greek Golden Visa will only affect certain regions

Greece will double the minimum investment under the residence permit program - from €250,000 to €500,000. The new conditions for the purchase of real estate will come into force on May 1, 2023 and will be valid only in 36 municipalities of the country. The government is considering raising the threshold for obtaining a residence permit under the Golden Visa program to 500,000 euros in the center of Athens and its northern and southern suburbs. A doubling of the minimum investment amount is also expected in Thessaloniki, Mykonos and Santorini, while in Attica the eastern and western suburbs, as well as Piraeus, will be excluded.

Investors who make a deposit under the transaction before April 31, 2023 will be able to buy real estate at the old price - from 250,000 euros. Under the new conditions of the residence permit program in Greece, participants will be able to invest in only one property. An exception is the purchase of two apartments in the same building. At the moment, interested investors can obtain a residence permit by purchasing a property worth at least 250,000 euros without any restrictions. For example, it is possible to purchase two, three or even more properties of any value, as long as the total amount exceeds 250,000 euros.