🌟 It's Final. Major Update for Investors on Greek Golden Visa Program!🌟
As of April 5th, the Greek Golden Visa Program has a new chapter. With the recent amendments now set in stone, the landscape for investors has shifted significantly. Here is a snapshot of the pivotal changes and their implications for your investment journey in Greece.
📍 In Attica, Thessaloniki, Mykonos, Santorini, and islands with a population over 3,100, the property value requirement rises to €800,000.
🌅 For those looking elsewhere in Greece, the investment threshold is a more accessible €400,000.
🏠 Each investment must be in a single property. -If the property is a building it should have a minimum area of 120 sqm. Investors choosing to purchase land have no cap on the square meters they can develop.
🏛️ The €250,000 limit remains for investments in heritage buildings, provided they are restored.
🚫 Investments in new properties acquired will not qualify for short-term rentals, including Airbnb.
🔙 Bypassing the New Investment Threshold!
Now, let’s talk about a little workaround within the new legislation. For those with an eye for opportunity and a penchant for transformation, properties undergoing a change of use to residential purposes offer a unique advantage. Despite the increased thresholds elsewhere, these converted dwellings hold steady at the previous investment requirement of €250,000. It's a niche but a golden one for those ready to transform spaces and benefit from the previous, lower investment entry point.
🔄 Adjustment Period Details for Applicants
✍️ Third-country nationals who fulfill payment or pay a 10% deposit, sign a preliminary contract, or a private purchase agreement, showing the related credits by August 31, 2024, can complete their investment by December 31, 2024, under the current conditions.
🔄 In these cases, if the property purchase is not finalized, the investor may complete their investment in another property under the existing terms, but not after April 30, 2025.
Contact us for personalized guidance through the new Greek Golden Visa process!
Would you consider investing in property conversions to bypass Greece’s new visa thresholds?
Absolutely, it's a strategic move.
Still pondering, need more details.
No, my focus is on other investments.
Not investing in Greece right now.
Cast your vote and let us know your strategy, or if you're still weighing your options, in the Greek real estate odyssey!
These legislative updates signal a maturing of the Greek Golden Visa Program, refining its structure to reflect the evolving real estate market and the economic landscape. Whether you're an investor navigating these new waters or just considering dipping your toes in, understanding these changes is paramount. While some doors have closed, new windows of opportunity crack open, painting a complex but rewarding investment horizon in Greece. For a tailored navigation of these legislative intricacies, professional advice can be your compass.
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