Greece’s Golden Visa Program Gains Momentum

The Greece Golden Visa program continued to show impressive results in 2023, attracting significant investments to the country. According to the publication Ekathimerini, last year Greece approved 4,444 applications for permanent residency by investment. In January and February of 2024, another 664 statuses were issued.

Purchasing Greek real estate remains the most popular option among investors. Since the launch of the Golden Visa program, foreigners have acquired 24,000 properties with a total value of 6 billion euros.

Greece recently set a new investment threshold:

• 800,000 euros for properties in Attica, Thessaloniki, Mykonos, Santorini, and islands with a population of more than 3,100 people.
• 400,000 euros for properties in less popular regions.

The increase in the minimum investment threshold has sparked additional interest in Greek real estate from foreign investors. Media forecasts predict that foreigners will be actively purchasing properties to participate in the program over the next six months.

To qualify for permanent residency in Greece under the old conditions through real estate purchase, one must:

• Make a deposit of 10% by August 31, 2024.
• Complete the transaction by December 31, 2024.
• Apply for residency after closing the transaction.

Obtaining Greek residency status through investment offers several advantages:

• Permanent residency for the investor and their family members.
• The right to free movement and residence within the Schengen Area.
• No residency requirements.
• Favorable tax regime.

Mercury Group specialists are ready to provide individual consultations on the Greece Golden Visa program, select optimal investment properties, and prepare the necessary documents.

Just contact us!

info@mercuryestate.com