Extension of “Golden Visa” Transitional Period

Golden Visa News

On December 11th, 2023, a legislative proposal was submitted to the Greek Parliament. The proposal suggests extending the deadline for non-EU nationals who are applying for the Golden Visa program and have not yet completed their investments in the affected areas. The extension will apply to those who meet the previous threshold of a minimum investment value of 250,000 EUR. At present, the proposal is waiting for an official vote.

The proposed bill outlines that non-EU nationals can complete their investment in one or more properties located in Greater Athens, Thessaloniki, Mykonos, and Santorini by April 30th, 2024. The minimum investment value is 250,000 EUR, provided that an advance payment of 10% of the purchase price has been paid by July 31st, 2023. If the purchase of the property for which the advance payment has been paid is not completed, the applicant may complete their investment in another property or properties with a minimum investment value of 250,000 EUR. In either case, the investment must be completed by April 30th, 2024.

Furthermore, the proposed bill includes a provision that extends the deadline for applying under the current 400,000 EUR threshold for the Term Deposit route until March 31st, 2024. This threshold is meant to be increased to 500,000 EUR in the future.

Further details will come forward soon!

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