After Greek Prime Minister Mitsotakis' announcement of the regulation in September 2022, Golden Visa applications increased by more than double. According to the Prime Minister's statement, it was decided to raise the investment threshold from €250,000 to €500,000, especially in big cities like Athens, in 2023. Although a specific date was not set, the regulation was expected to be implemented in mid or late 2023. However, this announcement prompted investors to act quickly. In May of this year, the total number of pending applications reached around 16,000, compared to the previous year, which was almost halved, around 6,000-7,000. This pattern, which showed slow growth in the summer months of 2022, started to increase significantly from September-October after the announcement.
What is Greece Golden Visa?
The Greece Golden Visa program offers the opportunity to live in Greece and provides visa-free travel to many countries, including Schengen Area countries. While the new regulation has not yet been implemented, you can currently obtain a residence permit for your family with a minimum investment of €250,000. Get in touch with our expert team to learn more about the opportunities and more you can gain through a five-year residence permit before the new price decision comes into effect!
Those Wishing to Benefit from Greece Golden Visa Need to Act Quickly
Greece's regulation will encourage investors to act quickly and speed up the influx of hot money into the country. However, the government needs to act promptly to review the applications because impatient investors may cancel their applications and turn to more attractive options without wasting time. To learn about Greece Golden Visa and its advantages, get in touch with our expert team.
Extended Family Quota and Low Investment
Greece is the country that offers Golden Visa with the lowest investment in Europe. By investing in a property in Greece with the current minimum of €250,000, you, your family, your spouse, and your spouse's family can benefit from the opportunities of Greece Golden Visa. Moreover, you can include your children under the age of 21 and ensure that they receive education easily in Europe. As one of the transparent and reliable companies in the investment field, InvestGC is ready to assist you at every step and provide information on finding the most suitable investment project for you and your family.
Greece Golden Visa Applications are Breaking Records According to data from the Greek Ministry of Migration, the highest number of applications, with 1200 main applicants, occurred in December 2022, but only 356 of these 1200 applications were accepted. Whether the number of applications is 200 or 1200, Greece has accepted a maximum of 400 applications, which means the number of individuals who will obtain the Greece Golden Visa is determined regardless of the total number of applications. Furthermore, according to data from the Ministry of Migration, until 2021, only about 20% of applications were put on hold, whereas in 2022, nearly half of the applications were put on hold. To provide more precise data, in 2023, out of 2618 applications, 2488 of them are currently on hold. The Greek government can process a maximum of 800 applications. As a result, while many applications are being put on hold, it is estimated that the total amount of money entering the country through these held applications is around 1.5 billion Euros.
