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What are the new regulations on the investment amount required for residency in Greece?

Has the process also changed, or is it just the amount? Does it apply to new applications right now?


Answers
  • Synergia Technical and Consulting SA
    January 01, 2023

    The new voted amendments in force already are, in brief, the following: (i) for the Regional Units of the North, Central and South Sectors of Athens and the Municipality of Vari Voula Vouliagmeni of the Region of Attica, the Municipality of Thessaloniki of the Region of Central Macedonia and the Regional Units of Mykonos and Santorini of the Region of the South Aegean the minimum value of real estate by the time of its acquisition is set at five hundred thousand (500,000) euros. The investment through the purchase of real estate in the areas of the first paragraph, it is carried out in a single property. (ii) For the other regions of the country, the minimum value of the real estate at the time of its acquisition is set at two hundred and fifty thousand (250,000) euros. The investment in these areas can be done through one or more properties. (iii) Citizens of third countries may complete their investment in one or more properties in the areas of paragraph 1 above until December 31, 2023, with a minimum investment value of two hundred and fifty thousand (250,000) euros, subject to the payment of an advance payment of ten percent ( 10%) on the purchase until April 30, 2023, either by signing a notarial preliminary agreement, or by signing a private agreement of a certain date and a relevant proof of credit from the buyer's bank regarding the sending of the advance payment to the seller's account until on April 30, 2023. If the purchase of the property for which an advance of ten percent (10%) of the purchase price was given is not completed by April 30, 2023, the third country citizen may complete his investment in another or other properties, with a minimum investment value of two hundred fifty thousand (250,000) euros and in any case no later than December 31, 2023.

  • Foutsis & Partners Law Firm
    December 28, 2022

    No amendments yet. The government announced that the threshold will go to 500k from 01.05.2023 only for specific areas.