Greek Golden Visa is one of the most popular programs for foreigners who opt to acquire EU residency. The requirements for obtaining Visa in Greece are simple. The applicant should (a) enter Greece legally and (b) either purchase property (such as land, house or apartment) or sign a lease agreement for hotel accommodation, furnished tourist residences, or other property.

Therefore, once the process is completed the applicant not only gets EU Visa (for himself and, under certain requirements, for his family members) but is also enabled to make a profitable investment in Greece. In December 2022, the Greek Ministry of Internal Affairs announced some changes to the local Visa program which are listed below: 

1. The minimum value of purchase of a single property doubled from €250,000 to €500,000 for the northern section of the country, the central and south sectors of Athens in the Attica region, the islands of Mykonos and Santorini and the Municipality of Thessaloniki.
2. This minimum value applies also to lease agreements for hotel accommodation or furnished tourist residences, and must be paid in full prior to the submission of the Visa application. In case of investment through acquisition of shares in a property, the minimum value of the invested share should be not less than €500,000 in a single property item.
3. By way of an exception to 1 above, applicants that will have agreed to acquire property in any region of Greece (including Athens, Mykonos and Santorini) and have paid the relevant deposit by 30th April 2023, will be benefited by a lower threshold amount of €250,000 (instead of €500,000) provided that the acquisition is completed by the end of the same year.
4. The minimum value of the investment (either through purchase of a single property or through a lease agreement for hotel accommodation etc.) for all the remaining areas of Greece maintained at €250,000.
5. The Visa benefits are now transferable. By selling the property (by virtue of which Visa has been acquired) to a resident of a foreign country, that buyer has the right to obtain Visa for the balance of the period until expiry or renewal, while the Visa of the seller is terminated.
6. Residency rights can be are extended to the person that is co-owner of the property, or has a civil partnership (legal contract between couple).
7. The Visa application may be submitted through the appointed attorney pursuant to a power of attorney even before the entry of the applicant in Greece. The said power of attorney can be issued before any Greek Embassy abroad, Foreign Authority abroad or Notary based abroad in each case provided that the said power of attorney is apostilled as per Hague Convention 1961.

You may contact us for any further clarifications or updates on this matter. We will be pleased to assist you with your Visa application.