The much talked about issue of the increase in the golden visa threshold has been finalized by the Greek Parliament and the law was adopted on the 21st of December (L.5007, Gov. Gaz.:241A’ 23.12.2022).
The new provisions set out that the property’s value should be of minimum 500,000 euros – instead of 250,000 euros – in certain areas, namely in the Regional Units of Northern, Central and Southern Athens, in the Municipality of Vari – Voula – Vouliagmeni, in Thessaloniki, in Mykonos and in Santorini. On the contrary, the value’s threshold remains 250,000 in the rest of Greek territory.
Additionally, if the investor chooses to apply for a golden visa by purchasing real estate, the investment of 500,000 euros must refer only to one property, meaning that a combination of more properties that will sum up to the minimum Golden Visa amount is no longer allowed. In the areas where the 250,000 euros threshold remains, the combination is still possible, however.
It is important to note that the former regime of 250,000 euros will still apply for investors who will deposit 10% of the property’s value by 30.04.2023 and complete the purchase by 31.12.2023.
For additional information or assistance, please contact Ms. Maria Sarantopoulou, Chief Tax and Legal Advisor and Ms. Alexandra Theologou, Junior Legal Advisor, at our Eurofast office in Greece, at athens@eurofast.eu
Maria Sarantopoulou
Chief Tax and Legal Advisor
Eurofast Athens
athens@eurofast.eu
Alexandra Theologou
Junior Legal Advisor
Eurofast Athens
athens@eurofast.eu