Hurry up for the cheaper Greek permanent residency!
Published at: 16/11/2022 09:54 am
The necessary investment under the Greece Golden Visa program will double from 2023! However, you still have time to apply before the price increase.
The Greek government recently announced that they would double the necessary amount of real estate investment from 250,000 euros to 500,000 euros in exchange for permanent resident status.
Following the announcement, the demand for the Greek Golden Visa increased by 290 percent, according to the Greek Reporter.
Raising the minimum necessary investment amount prevents foreign applicants from "driving Greeks out of their neighbourhoods and raising rents". Meanwhile, there has yet to be a specific date for the introduction of the higher amount, but there are indications that the new legislation will enter into force next year (2023).
Do you still have time to apply for the Greece Golden Visa in 2022?
Yes, you have. Please send us an email or set up a consultation as fast as possible because you need validated documents, and, most importantly, purchase one or more real estate to qualify for the program.
What kind of real estate can you buy in Greece in exchange for a permanent residence permit?
There are various solutions on the Greek property market to spend 250,000 euros. But it is enough to purchase a small flat in the bigger cities or a house/flat of 100-150 square meters in the countryside or on the islands.
Where will the government increase the investment amount?
Interestingly, the government plans to increase the necessary amount of real estate purchased in exchange for a residence permit only in some special areas. These include specific areas in Athens and the wider Attica region, including Paleo Faliro, Alimos, Elliniko, Glyfada, Voula, Vari, Marousi, Kifissia, Melissia, Vrillisia, Dionysos and Ekali. Meanwhile, according to the Greek Travel Pages, the 250,000 euros investment limit will remain in the remaining Attica suburbs.
The tourism-related portal also wrote about the nationality of the applicants for the Golden Visa. They mainly arrived from China, Turkey and Russia. However, Egyptian and Lebanese citizens are applying in increasing numbers.
At Discus Holdings Ltd, we have started to support clients for the Greek Golden Visa since its introduction in 2013. If you wish to become a Greek permanent resident under the current lower threshold, it's time to contact us here.
If you want to take a look at the details of the process for the Greece Golden Visa, click here for more information!