The Greek legislators amended the Golden Visa Program, introducing new thresholds and zoning classifications. The Greek Golden Visa is one of the most attractive and popular options for becoming a resident of an EU Member State through an investment in real estate. 

The qualifying real estate investment amount depends on the zones of the program: 

• "Zone A" requires a real estate purchase of 800,000 euros. This zone includes areas such as Athens, Thessaloniki, Mykonos, Santorini, and other primary tourist destinations. The qualifying real estate must cover at least 120 square meters.

• "Zone B" requires 400,000 euros for a real estate purchase. This zone comprises less populous regions, such as:

  • Mainland Greece outside of the regions of Attica and Thessaloniki.
  • The Peloponnese region.
  • Almost all of Crete, except for high-end, luxury projects.
  • All smaller islands with a population below 3,100 people.
  • Mainland coastal regions outside of the major cities and hubs.

The amended Greek Golden Visa Program offers incentives for the restoration of listed buildings or converting commercial properties to residential use. The lowest investment amount is 250,000 euros. Note that the applicant must finish the conversion of the building before applying for the residency-by-investment program. 

"Listed" means historic buildings designated for restoration. Typically, you will need a local property expert to find and prepare a property to qualify for the Golden Visa. There are several developers who offer solutions, and, most importantly, this option does not require a minimum 120-square-meter footprint, unlike the other options for 400,000 or 800,000 euros. 

Do not forget that investors under the Golden Visa cannot rent the property to third parties for short-term stays or use it as a registered company address. 

Discus Holdings Ltd has supported applicants in becoming residents of Greece since 2013, when the scheme started. We have oriented hundreds of new residents, and we are always available and waiting for your questions.