Greece Golden Visa Changes 2023

Updated: 3 April 2023

Your Guide to Greece Golden Visa

At Get Golden Visa, we’re working with investors and families from all over the world interested in getting a Golden Visa in Greece.

Contact us today and speak to our independent advisors in Greece who can assist you with all questions regarding Greece Golden Visa changes and available property options.

On 10 September 2022, Kyriakos Mitsotakis, Prime Minister of Greece, announced that the minimum investment amount for property acquisition under the Greece Golden Visa program will be raised to €500,000 in specified regions. In his speech, Mitsotakis emphasized that this change is to provide real estate affordability for Greeks.

Greece Golden Visa property acquisition investment amount is currently €250,000 and one of the lowest amounts among Europe’s popular residency by investment schemes.

As of May 1, 2023, a new threshold of €500k will be applicable for obtaining the Greece Golden Visa by investing in Greek real estate. While the said threshold update will be implemented in the Greater Area of Athens, the Municipality of Thessaloniki, and the islands of Mykonos and Santorini; the €250k threshold will stay constant for the remaining regions.

Key Takeaways

  • The investment amount for the Greece Golden Visa property acquisition route will be increased to €500,000 from €250,000 as of 1 May 2023.
  • With this change, the Greek government aims to make Greece’s real estate market more affordable for the locals.
  • The said new arrangement will be applicable in the Greater Area of Athens, the Municipality of Thessaloniki, Mykonos, and Santorini.

What Should Investors Expect from Greece Golden Visa Changes?

While the upcoming change on Greece Golden Visa aims to make property acquisition more affordable for the locals, it’s expected that foreign investors will speed up their application to benefit from the current €250,000 threshold.

Within regions where the new regulations apply, investors will be required to make the €500k investment in only ONE (1) property. In other areas where the update is not in effect, on the other hand, the investment can be made in more than one property, with a total of at least €250k.

In case an investor is buying in the selected areas and has already paid a deposit that corresponds to 10% of the total value of the property before 31 July 2023, they will be entitled to benefit from the €250k scheme, on the condition that the relevant contract will be concluded until 31 December 2023.

If the deal for the selected property breaks down, the investor will hold the right to restore it with a different property under the €250k scheme. That is, on the condition that the transaction is to be finalized by 31 December 2023.

As opposed to the previous arrangement that necessitated the Power of Attorney for the Golden Visa application to be retrieved from the consulate, investors can now sign the POA before a foreign Notary of their choice in their home country, provided that the POA carries an Apostille Stamp; or is authorized by the entitled Greek Consulate.

How Can Get Golden Visa Help You

Get Golden Visa is a full-service investment immigration agency and investment advisory firm. We provide end-to-end solutions on residence and citizenship by investment programs in many countries.

We have a local office in Athens, Greece, and have legal professionals and chartered real estate professionals in the team.

We assist clients from all around the world, interested in buying property in Greece and obtaining Greece Golden Visas.

Contact us and talk to one of our experienced team members to help you with any and all your questions before Greece Golden Visa changes.

Get in Contact

    Notify of

    Inline Feedbacks
    View all comments
    Get Started

    Contact Us

      Why Get Golden Visa

      Fill out the form to meet our team of legal professionals, licensed real estate experts, and fund advisors.

      Your Trusted Partner in Golden Visa Process

      From investment decisions to the Golden Visa approval, we strive to optimize the process and provide a transparent journey.

      Real Estate Advisory

      We’ve been serving our clients since 2014 with our expertise in independent investment advisory. Simplify your property search with our certified real estate professionals.

      Fund Investment

      We’re in liaison with over 40 fund managers in different countries. Choose the right fund based on your needs with an unbiased, straightforward approach.

      Subscribe to our newsletter