Golden visa: new conditions - thresholds of height

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The Greek Ministry of Finance has outlined new conditions for the Golden Visa program. The most significant change is the increase in limits to 800,000 and 400,000 euros, as well as the establishment of a "ceiling" on the property size, which cannot be less than 120 square meters.

The new conditions are specified as follows: in Attica, Thessaloniki, Mykonos, Santorini, and on islands with a population of over 3,100 people, the objective value increases to 800,000 euros. In other areas, the limit is set at 400,000 euros and above. In any case, the investment must be made in real estate with an area of at least 120 square meters.

The threshold for investments in properties with historical value remains at 250,000 euros, provided that such real estate is restored. For buildings that have industrial purposes and have been converted into residential ones, the limit is set at 200,000 euros. Short-term rentals are not allowed.

According to Mr.

Hatzidakis's statements, residence permits can be extended for an additional five years, provided that the property remains in the investor's ownership. Upon sale, the residence permit is canceled. Buyers have the right to rent out their property, but short-term rentals (AirBnB) are not allowed. The use of converted properties as a workplace is also prohibited. In case of violations, the permit is revoked, and a fine of 50,000 euros is imposed.