According to the latest announcement, the opportunity to obtain a Greek residency card through the Golden Visa program with the old investment amount of €250,000 will only be valid until July 31, 2023.

As previously reported, in September 2022, the Greek government announced plans to double the minimum investment amount for the real estate option under the Golden Visa program from €250,000 to €500,000 in 2023.

By December 2022, the Greek Ministry of Development submitted a legislative amendment to Parliament to raise the minimum investment for the Golden Visa to €500,000, applicable only to 36 major municipalities. The investment amount of €250,000 will remain unchanged for other areas.

The Greek government also planned for a transitional period, initially set to end on April 30, 2023. However, the Greek Parliament voted to extend this deadline to July 31, 2023. With this decision, investors will qualify with the €250,000 investment if they place a 10% deposit before the deadline. Additionally, the investment must be completed by December 31, 2023.

To obtain the Greek Golden Visa at the old investment level of €250,000 instead of €500,000, investors need to expedite their information gathering, project surveys, and preparation of investment documentation now.

Benefits for foreign investors in the Greek Golden Visa:

• Receive a 5-year residency permit for the entire family, including spouse and children under 24 years old (single).
• Visa-free travel to 27 Schengen countries.
• Opportunity to become a European Union citizen after 7 years of residency.

Simple regulations:

• No residency requirement in Greece to renew the residency permit.
• No interviews or language proficiency required.
• No educational qualifications or management experience needed.
• Quick processing time, taking only 3 to 4 months.
• No income tax for non-residents in Greece, except for income generated from property rental in the country.

Greece is considered the cradle of Western civilization, contributing foundational principles to mathematics, physics, literature, and other sciences. It is also one of the most famous tourist destinations in the world, attracting approximately 16.5 million visitors each year. In the region, Greece is a member of the EU, Eurozone, and Schengen Area. Globally, Greece is also a member of the United Nations, OECD, and NATO.