Since its inception in 2013, Greece's Golden Visa program has emerged as a prominent avenue for non-EU nationals seeking residency within the European Union through investment. The program grants a five-year renewable residence permit to individuals who invest in Greek real estate, with specific thresholds and conditions outlined in the current legal framework.
Investors have multiple pathways to qualify for the Greek Golden Visa through real estate acquisition. In designated prime regions - namely Attica, Thessaloniki, Mykonos, Santorini and the islands with a population of more than 3,100 inhabitants - the minimum required investment is set at €800,000, reflecting the strategic significance and high demand of these locations. For all other regions across Greece, the law provides for a reduced minimum threshold of €400,000, allowing access to a broader range of real estate opportunities throughout the country. Additionally, certain types of investment projects are expressly encouraged by the legal framework. These include the conversion of properties from commercial to residential use, as well as the restoration or reconstruction of listed buildings of historical or architectural significance. In such cases, the minimum investment requirement is further reduced to €250,000, provided the investment concerns a single property and meets the respective regulatory conditions. These specific categories are designed to promote sustainable development, urban regeneration, and the protection of Greece's cultural heritage, while simultaneously granting investors access to one of the most flexible and advantageous residency-by-investment programs in Europe.
The Greek Golden Visa program extends residency rights not only to the principal investor but also to their immediate family members, including spouses, children, and dependent parents, thereby offering a comprehensive solution for family relocation. Holders of the residence permit benefit from visa-free travel within the Schengen Area, facilitating mobility across Europe. Notably, there is no obligation for physical residence in Greece, although the continued maintenance of the qualifying investment is required for the permit's renewal. It is important to note that the Golden Visa does not grant employment rights within Greece. Furthermore, the program provides a pathway to Greek citizenship, subject to the condition of seven years of continuous legal residence and fulfilment of the relevant naturalization requirements under Greek law.
It's important to note that properties acquired under the Golden Visa scheme cannot be utilized for short-term rentals, such as those facilitated by platforms like Airbnb. This restriction aligns with Greece's commitment to sustainable tourism and housing availability.
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