Greece’s 2024 Golden Visa Programme Latest Changes. Act now to unlock European Residency

As of September 1st, 2024, the Greek government will raise the minimum investment required for the coveted Golden Visa programme from €250,000 to €400,000 in certain parts of Greece. This impending change marks a significant shift, making now the optimal time for prospective investors to secure their spot under the existing rules. Investors are still able to apply under the existing €250,000 minimum threshold if they submit a 10% deposit by August 31^st, 2024, and complete the investment by December 31^st, 2024.

At Melbourne Capital Group, we understand the urgency and are here to guide you through this window of opportunity.

What is the Greece Golden Visa programme?

The Greece Golden Visa programme was launched in 2013 to provide a pathway for non-EU nationals to gain permanent residency through investment, offering several routes including real estate purchase, government bonds, and business investments. It is the only European programme offering immediate permanent residency. Real estate remains the preferred option, promising potential returns of 3-5% annually. The programme is attractive for its flexibility and the opportunity for immediate rental income from the acquired properties. The visa can be acquired under 90 days and is renewable every five years, if the property investment is retained.

Is the Greece Golden Visa worth it?

Greece's Golden Visa programme offers a wealth of benefits for investors seeking residency in Europe:

1. Access to Europe: The Golden Visa grants you residency in Greece, which includes the freedom to travel within the Schengen Zone, encompassing 26 European countries.

2. Investment in Prime Real Estate: Greece offers a diverse range of properties, from historic urban apartments to luxurious beachfront villas. Investing here means owning a piece of a vibrant culture and beautiful landscapes.

3. Fast and Efficient Process: The application process for the Greek Golden Visa is streamlined and efficient. Once you have made the qualifying investment, residency can be obtained in a matter of months.

4. No Residency Requirement: Unlike many other residency programmes, Greece does not require you to live in the country to maintain your residency status. This makes it the ultimate plan B, offering unparalleled flexibility and peace of mind.

5. Path to Citizenship: While the Golden Visa grants residency, it also sets you on a potential path to Greek citizenship, offering full European Union citizenship rights.

How much do you have to invest in Greece to get a Golden Visa?

With the investment threshold set to rise on September 1st, time is of the essence. The current €250,000 minimum presents a unique opportunity to enter the programme at a more accessible level. However, the market is becoming increasingly competitive, and properties within this investment range are quickly being snapped up.

Click here to download the current Greek Citizenship Factsheet.

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What you will find in the Greece Golden Visa factsheet:

• What is the Greece Golden Visa.

• Greece Golden Visa benefits.

• Eligibility criteria for the Greece Golden Visa programme.

• Investment options of the Greece Golden Visa.

• Greece Golden Visa programme steps and timeline.

What does the 2024 update on the Greek Golden Visa mean for investors?

The Greek Minister of Finance has announced significant changes to the Golden Visa Programme, introducing a dual-zone system for real estate transactions. These changes are anticipated to take effect from September 1^st, 2024.

The update will create two distinct investment tiers, based on geographic zones, each affecting the minimum investment requirements for applicants.

Tier 1: €800,000

This tier applies to real estate investments in prime locations, including Attica, Thessaloniki, Mykonos, Santorini, and other islands with populations exceeding 3,100.

Tier 2: €400,000

This tier encompasses all other regions of Greece, establishing a more accessible entry point of €400,000. The goal here is to stimulate investment across a broader range of areas, thereby expanding the programme’s economic benefits.

Act now to secure your future Greek Citizenship

At Melbourne Capital Group, our dedicated Residency & Citizenship by Investment division is here to assist you every step of the way. Our professional yet approachable team will help you navigate the complexities of the application process and identify qualifying properties that meet your investment criteria.

Don’t miss out on this opportunity to secure Greek residency under the current investment conditions. Contact us today at info@melbournecapitalgroup.com to start your journey. Our experts are ready to provide personalised advice and fast-track your application to ensure you meet the deadline.