Golden Visa: Until August 30th the acquisition of residence under the "old" conditions

With a regulation submitted to Parliament, the transitional period during which third-country nationals can either pay the price is reduced by one month

Until the end of the summer, i.e. until August 30 instead of September 30 which was the original deadline, citizens of third countries have time to proceed with the purchase of a property with the "old" limits and obtain a Golden Visa.

With a regulation submitted to the Parliament, the transitional period during which third-country nationals can either pay the price, pay a 10% advance, or sign a preliminary agreement with payment and apply for a residence permit via Golden Visa is reduced by one month .

In order for the new system to obtain a Golden Visa to be implemented smoothly and not to disrupt the operation of the market, a transitional period is foreseen based on the following conditions:

Third-country nationals who will pay the price or pay a 10% advance, or sign a pre-contract or private purchase agreement, proving the relevant credits until August 30, 2024 can complete their investment until December 31, 2024 with the conditions that applied until now.

In these cases, if the purchase of the property is not completed, the buyer can complete his investment in another property always under the conditions that applied until now, but in any case not after April 30, 2025. Also, PASOK's observations were accepted not to subletting is allowed, which is not allowed anyway, however, according to Mr. Theoharis, the specific reference was added to the regulation so that there is no doubt

Based on the new regime voted in Parliament, the following conditions will apply for the granting of a 5-year residence permit to citizens of third countries (Golden Visa):

In the Region of Attica, the Regional Units of Thessaloniki, Mykonos and Santorini and on the islands with a population of over 3,100 inhabitants, the value of the real estate that the interested party must own increases to 800,000 euros.

In the rest of the country, the value of real estate is 400,000 euros.

In any case, the investment must be made in one property (not in several properties of lesser value) with an area of ​​at least 120 sq.m. It is allowed to purchase a percentage of a property in undivided co-ownership, the minimum value of which is respectively 800,000 and 400,000 euros.

For buildings that currently have a different use and are converted into residences, the minimum investment amount is 250,000 euros.

The conversion of use must be completed before submitting the request for the residence permit.

The limit is also set at 250,000 euros if it is an investment in a listed building that is to be restored.