The Greek government has decided to extend the timeframe for investors participating in the Golden Visa program to complete their real estate transactions. Specifically, those who have made a deposit of at least 10% of the property value before August 31, 2024, will have until February 28, 2025, to finalize the transaction.

The new regulation states that procedures have been improved to allow for an additional 2-month extension to apply for a residence permit. This aims to prevent the cancellation of agreements and potential legal disputes.

Golden Visa Investment Requirement Changes

In March 2024, Greece announced new modifications to the Golden Visa program, introducing new investment conditions that led to a surge in applications. The minimum investment thresholds are as follows:

• 800,000 EUR for real estate in prime locations like Santorini, Mykonos, and the Attica region.
• 400,000 EUR for real estate in other areas of Greece.
• 250,000 EUR for the conversion of commercial property to residential use remains unchanged.

The number of Golden Visa applications and renewals has reached 31,000, leading to an 18-month processing time as of early 2024, causing administrative delays. Consequently, the Greek government has extended the processing timeframe.

To address the backlog, the authorities have distributed applications to regional management agencies instead of processing them solely in Athens. Recently, Golden Visa applications have been approved within 3 months of submission.

Greece is also planning to introduce new investment categories in the Golden Visa program for 2025, allowing investors to apply with a minimum investment of 250,000 EUR in startups.

About the Greek Golden Visa

The Greek Golden Visa is an investment-based residency program launched in 2013, allowing applicants and their family members to obtain long-term residence permits in Greece. The residence permit can be renewed every 5 years.

The Greek Golden Visa program is considered one of the most affordable investment-based residency programs in Europe. Applicants and their dependents can enjoy visa-free travel within the Schengen Area of Europe within 2 months of application.

Benefits of the Greek Golden Visa Program

• Obtain a residence card for the entire family (three generations) to live, work, and study in Greece.
• Freedom to conduct business in Greece and enjoy social benefits similar to Greek citizens.
• Free travel to 164 countries and territories, including the Schengen Area.
• No residency requirement in Greece.
• No financial proof is required.
• No language, education, or management experience is required.

Why Choose JA & Partners?

JA & Partners was founded by a team with over 10 years of experience in immigration, specializing in handling difficult cases, especially asset verification for the US, Australia, Canada, Europe, and the Caribbean. Our partners include top law firms in these countries, boasting a 100% success rate and collaboration with reputable real estate investment companies with over 40 years of experience.

Our professional, dedicated customer service team ensures satisfaction with all your requirements, providing support throughout the application process and after you have relocated.

Conclusion

We hope this article provides valuable information for investors interested in the Greek Golden Visa program.

Contact JA & Partners:

– Hotline: 0903.70.82.86

– Email: info@japartners.vn

– Website: https://dinhcuquocte.com.vn/

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