The Greek government intends to double the actual price of Golden Visa, which means that the minimum investment required to apply for Golden Visa by property purchase will increase from 250,000 euros to 500,000 euros. As a result, the Greece Golden Visa Program will be consistent with Portugal and Spain, and more demanding than Latvia, according to sofokleousin.gr.
In addition, the report also states that the Greek government will introduce requirements of mandatory stay, as well as the minimum annual spending in Greece, and the threshold for minimum spending per year will be 30,000-50,000 euros.
On October 23, 2019, the Minister for Development and Investment Adonis Georgiades said that this amendment stipulates that for regions with low economic growth rate and low GDP, the investment amount of 250,000 euros will still be the threshold of investment, which is conducive to guiding buyers to areas where real estate investment is more needed.
On the other hand, due to the well-developed tourism industry and economy, Athens’s most popular real estate investment zone attracts most of the world’s investors, 90% of which are in Attica. For Attica and other more developed regions, the threshold will be higher in the future.
“The amendment will make it harder for people who want to invest in Attica to get Golden Visa than those who invest in other regions,” according to cnn.gr.
Recently, there has been a lot of rumor about the remarkable increase in investment amount of the Greek Golden Visa, as the Greek government revealed more and more details, which means that the change of this policy is inevitable. Applicants who intend to apply for the Greek Golden Visa by investing in real estate should choose the appropriate real estate and complete the investment before the new policy is officially implemented. In terms of property selection, GLOBEVISA has a unique advantage that stands out in the immigration market. GLOBEVISA has put forward a new real estate purchase mode, in which the applicants can freely choose property in Greece. It formulates a real estate selection plan based on the applicant's needs and provides local accompanying reception services. GLOBEVISA, the gateway to the world.
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