Home Travel & Adventure Greece’s Golden Visa Program: Minimum Investment Doubled for Foreign Investors

Greece’s Golden Visa Program: Minimum Investment Doubled for Foreign Investors


Wealthy foreign nationals are now subject to an increased amount required for investment when planning to acquire residency in several parts of Greece through the Golden Visa Program.

The new changes mean that from the beginning of this month, foreign investors are required to invest a total of €500,000 instead of €250,000.

The decision to apply such changes was announced earlier this year by the Greek Prime Minister, Kyriakos Mitsotakis, while he emphasised that it would become effective from May 1. However, the decision was then postponed for three months, until August 1.

“In order to increase the affordability of real estate for Greeks, we are now increasing the minimum amount of investment required for the issuance of a golden visa from €250,000 to €500,000 (£434,000, $500,000),” Greece’s PM pointed out in this regard, based on International Adviser report.

Local media reports stressed that new amendments would be applied to the North part of the Hellenic Republic, the Central and South Sector of Athens in the Attica Region, and the islands of Mykonos, Santorini and the Municipality of Thessaloniki.

Authorities in the Hellenic Republic experienced a surge in the number of applications for the Golden Visa scheme this year following the announcement of the country’s authorities to increase the minimum amount of investment required for this program and Portugal’s decision to terminate this scheme.

Internationals can acquire residency in Greece through the Residency by Investment Program, provided they financially contribute to this country and meet specific conditions.

According to the figures provided by Greece’s Ministry of Migration and Asylum, the program boosted the country’s economy by nearly €1 billion in the first five months of this year.

The figures from the same Ministry revealed that a total of 3,900 requests for the purchase of a real estate for residence were submitted from January until May this year, compared to a total of 1,444 registered during the same period last year.

The increase in demand for the Golden Visa scheme caused pressure on the country’s authorities, with more than 5,444 investor visa requests awaiting approval. Besides, from May last year until May this year, a total of 8,351 investor visa requests were submitted to authorities in Greece, of which 35 per cent were approved.

Besides, the same source revealed that in the first months of this year, 1,938 requests were approved, compared to 777 registered in the same period last year, or up by 149 per cent. In addition, 412 permits were issued in May this year, more than 220 last year.

Facebook Comments Box
Previous articleETIAS vs. Visas: Key Differences and Comparisons
Next article10 Best Things to Do in Stockholm, Sweden
Monte OZ is a highly accomplished and respected international freelance journalist, travel and active adventure reporter, and leading entertainment & lifestyle blogger based in Africa. With a passion for storytelling, a sense of adventure, and an eye for all things captivating, Monte has become a prominent figure in the world of travel, entertainment, and lifestyle journalism. Born and raised in Africa, Monte developed a deep appreciation for the continent's diverse cultures, rich heritage, and vibrant entertainment scene. His upbringing fueled his desire to share Africa's untold stories and showcase its dynamic lifestyle to a global audience. Monte's extensive experience and expertise have made him a sought-after authority on all things related to travel, adventure, entertainment, and lifestyle in Africa. As an international freelance journalist, Monte has made significant contributions to various prestigious publications worldwide. His captivating articles, insightful interviews, and engaging features have graced the pages of leading entertainment magazines, lifestyle publications, and reputable news outlets. Monte's unique ability to capture the essence of Africa's entertainment and lifestyle scene has garnered widespread acclaim and recognition. With a love for exploration and a thirst for adrenaline, Monte also thrives as an active adventure reporter. He has embarked on daring expeditions, immersing himself in Africa's wild landscapes, and documenting his adrenaline-pumping experiences. Whether it's conquering treacherous peaks, exploring remote jungles, or engaging in heart-pounding activities, Monte's adventurous spirit and daring escapades inspire readers to embrace their own sense of adventure. In addition to his work in journalism and adventure reporting, Monte is a leading entertainment & lifestyle blogger in Africa. Through his influential blog, he offers readers an insider's view of the continent's vibrant entertainment scene, trendy hotspots, fashion trends, culinary delights, and cultural experiences. Monte's unique blend of storytelling, personal insights, and expert recommendations has made his blog a go-to resource for entertainment and lifestyle enthusiasts seeking the pulse of Africa's dynamic culture. Beyond his professional pursuits, Monte is a passionate advocate for promoting Africa's talent, creativity, and cultural diversity. He actively supports and champions emerging artists, musicians, designers, and entrepreneurs, helping to showcase their work to a broader audience. Monte's dedication to promoting Africa's vibrant entertainment and lifestyle industry has positioned him as a respected influencer and tastemaker within the African and global entertainment communities. With a commitment to excellence, a passion for exploration, and a talent for captivating storytelling, Monte Oz continues to captivate audiences worldwide. As an international freelance journalist, travel and active adventure reporter, and leading entertainment & lifestyle blogger, his work has left an indelible mark on the world of journalism, travel, and entertainment, solidifying his position as a trusted authority and go-to resource for all things related to African travel, adventure, and lifestyle.