GR Residency by Investment 1

Residency by Investment – Greece 2023

Changes & Facts

The Greek Residency by Investment program (also known as the “Greek Golden Visa”) is a flexible and fast-track procedure for non – EU/EEA foreign investors who wish to invest in fields of Greek Economy and subsequently obtain a permanent residence permit in Europe. Within the framework of implementation of investment, The Immigration and Social Integration Code (Law 4251/2014, Government Gazette 1, no 80) contains provisions that facilitate the granting of residence permits to third country nationals and to members of their families, who intend to invest in Greece, for a minimum of €250,000.

The Greek Government, has announced an increase in the minimum investment for the Greek Golden Visa program from 250,000 EUR to 500,000 EUR. The minimum investment has increased to 500,000 EUR, effective May 1st, 2023. Changes applies geographical limits to real estate investments, affecting properties in specific municipalities in Athens, Thessaloniki, Mykonos, and Santorini.

Investors who have already paid a 10% deposit on a property before July 31st, 2023, will be able to complete the transaction and still apply under the old 250,000 EUR scheme. Additionally, investors are now allowed to sign a Power of Attorney in their country, without visiting Greece, provided it is certified or authorized by a competent Greek Consulate.

Investors in areas with a threshold of 500,000 EUR will only be able to invest in one property, while those in areas with a threshold of 250,000 EUR will still have the option to invest in multiple properties.

Greek Golden Visa Law changed on 23.12.2020: You can now apply for the program completely remotely. You or your dependents do not have to enter Greece during or prior to the application process.

– Specialised Investment Property Consultants