LAW 5007/2022 (O.G.G. Α 241/23.12.2022)

WHAT CHANGES REGARDING GREEK GOLDEN VISA

NEW THRESHOLD FOR GREEK GOLDEN VISA

The minimum of the Greek Golden Visa scheme via real estate investment will double from 250.000 EUR to 500.000 EUR in specific municipalities in Greece.

AREAS WITH THE NEW MINIMUM THRESHOLD OF 500,000 EUR

The new changes will be applied to the North, the Central and South Sector of Athens in the Attica Region, the islands of Mykonos and Santorini and the Municipality of Thessaloniki.

OTHER LIMITS IN THE PROPERTY INVESTMENT

In the areas where the threshold is increased to 500.000 EUR, investors will have to invest only in one (1) property.

In the areas where the threshold remains 250.000 EUR, the investors will still have the option to invest in multiple properties, to reach the minimum of 250.000 EUR.

WHEN WILL THE CHANGES BE APPLIED

The changes will apply from 1-1-2023. However, third-country citizens will still be able until 31-12-2023 to complete contracts that are in progress in the areas affected and still apply under the old 250.000 scheme, as long as they pay a 10% of the property value as a deposit before 30-4-2023.

If the deal for a certain property (or properties) falls through, the investors will be able to proceed with another property (or properties) and still apply under the old 250.000 scheme, provided they will have concluded the transaction up to 31-12-2023.

POWER OF ATTORNEYS (POA) CERTIFIED WITH APOSTILLE STAMP

Third-country citizens will now be able to proceed by signing a Power of Attorney (POA) in their country, without visiting Greece, not only in front of the Greek Consulates but also in front of any foreign Notary, provided that the POA will be certified with Apostille Stamp.