What is the Greek Golden Visa Program as of Septemper 2024:

1. Real Estate Price Entry Point:

• The Greek Golden Visa program offered the lowest real estate price entry point among all EU Golden Visas.
• The Greek Parliament has introduced new amendments to the program.
• For the Region of Attica, the Regional Units of Thessaloniki, Mykonos, and Santorini, and islands with a population exceeding 3,100 inhabitants, the minimum real estate investment value is €800,000.
• For other regions in Greece, the minimum investment value remains at €400,000.
• The investment must be in a single property with a minimum surface area of 120 square meters.

2. No In-Country Stay Requirements:

• Unlike some other programs, there are no minimum in-country stay requirements to maintain your residency status in Greece.
• You can secure your residency with zero days spent in Greece.

3. Application Process and Residency Validity:

• Greek Golden Visa applications are typically completed within 4-6 months.
• Once obtained, the Greek Golden Visa provides a 5-year residency permit validity.
• The program also offers exceptionally affordable residency permit renewal fees.

4. Flexibility in Property Purchase:

• There are no restrictions on where you can buy property in Greece.
• You can choose to purchase residential, agricultural, or commercial real estate.
• Additionally, you have the option to buy new off-plan properties or existing ones.

5. Family Inclusion and Citizenship Pathway:

• Family members, including your spouse and dependent children, can be included in your application.
• After seven years of residency, you may even explore the pathway to become a Greek citizen.
• The Greek Golden Visa also grants visa-free access to the Schengen Area.

6. Stability and Ease of Application:

• The Greek program is known for its stability, especially when compared to other programs.
• You can start the application process from home, with only one visit/call to our office here in Egypt without even going to Greece.
  

The Greek Golden Visa Program offers an attractive combination of affordability, flexibility, and residency benefits. Whether you’re seeking investment opportunities, a second home, or a retirement haven, Greece provides compelling reasons to consider its Golden Visa program

Exceptions:

• Conversion from Commercial to Residential:

■ If a Golden Visa property is converted from commercial (e.g., industrial) to residential use, the minimum threshold remains €250,000, regardless of location or property size.
■ The conversion must be completed before submitting the Golden Visa application.

• Restoration of Listed Buildings:

■ If the property is located in listed buildings (with historic interest under special protection) and is fully restored or reconstructed by the investor, the minimum threshold also remains €250,000.
■ Full restoration is a prerequisite for the first renewal of the Golden Visa after five years.
■ The property cannot be sold until restoration is complete, and failure to restore results in a revoked residence permit and a €150,000 administrative fine

Use Restrictions – No Airbnb:

• All Golden Visa properties are prohibited from short-term rentals in the context of the sharing economy, even through sublease agreements.
• It’s not yet clear whether this provision will apply retrospectively to existing Golden Visa holders.
• Properties converted from commercial to residential use are also prohibited from being used as a Company Registered Seat.

In summary, the Greek Golden Visa Program now offers distinct investment zones, exceptions for property use, and stricter regulations regarding short-term rentals. If you’re considering residency in Greece, these changes are essential to keep in mind.