The Greek Golden Visa program, one of the most popular residency-by-investment programs in Europe, offers a pathway to residency for non-EU citizens who invest in Greek real estate. As of September 1st, 2024, Greece has updated its investment thresholds for the Golden Visa. Here’s a breakdown of the costs and requirements associated with the program:

Greek Golden Visa Investment Requirements (as of 2024)

1. €800,000 Investment Zone:
   • This higher investment threshold applies to highly sought-after areas, including:
     • Attica Region (including Athens)
     • Thessaloniki
     • Popular islands such as Mykonos, Santorini, and Crete, along with Euboea (Evia), Rhodes, Corfu, Lesbos, Chios, Zante (Zakynthos), and others.
   • This is the most common zone for high-end real estate investments.
2. €400,000 Investment Zone:
   • For properties outside these prime locations, the required investment is €400,000. This offers more flexibility in terms of property options, typically in quieter or less tourist-heavy areas.
3. €250,000 Special Investment Category:
   • In some specific cases, you can qualify for the Golden Visa with an investment of €250,000. This lower threshold applies to projects like commercial-to-residential conversions and restoration of listed buildings, provided the restoration is completed and renewed after five years. However, these projects are limited, and prospective investors should act quickly.

Additional Costs for the Greek Golden Visa

• Government, Legal, and Notary Fees: The fees associated with purchasing the property and processing your Golden Visa application typically amount to around €15,000. These costs include legal services, notary fees, and government processing charges.
• VAT (Value Added Tax): In addition to the investment itself, VAT is also applicable on property purchases in Greece, which can vary depending on the type of property and location.

Golden Visa Requirements

In addition to making the required investment, applicants must meet the following conditions:

1. Clean Criminal Record: Applicants must provide evidence of a clean criminal record in their home country.
2. Sufficient Funds and Health Insurance: Applicants must demonstrate sufficient financial resources to support their stay in Greece, along with valid healthcare coverage.
3. No Previous Schengen Visa Refusals: Applicants must not have had any prior refusals for Schengen visas.
4. Non-EU Residency: The Golden Visa program is available exclusively to non-EU citizens.

Conclusion: Is the Greek Golden Visa Right for You?

The Greek Golden Visa is an attractive option for investors seeking long-term residency in Greece and access to the broader Schengen Area. The cost of participation depends on the location and type of property investment, with higher thresholds in popular areas like Athens and the Greek islands. With its competitive costs and favourable residency benefits, the Greek Golden Visa remains a top choice for individuals looking to live and invest in one of Europe’s most beautiful and historic countries.