In a strategic move to bolster foreign investments, Greece has announced an extension of the Golden Visa application deadline to February 29, 2025. This decision is expected to help secure an estimated €750 million investment pipeline, providing an opportunity for investors to benefit from the current terms before significant changes come into effect.
What Is Greece’s Golden Visa Program?
The Greece Golden Visa program is a residency-by-investment scheme that grants non-EU citizens residency permits in exchange for qualifying investments in Greece. The program has been highly popular among global investors, offering access to the Schengen Zone and a pathway to permanent residency or citizenship.
Key investment options include:
•Real Estate: Purchase property worth at least €250,000 in eligible regions until February 29, 2025.
•High-Demand Areas: After this deadline, investments in areas like Athens and Mykonos will require a minimum of €500,000.
•Alternative Investments: Government bonds or shares with a minimum threshold of €400,000.
Why the Extension?
The extension aims to capitalize on the surge in interest from foreign investors and ensure ongoing economic benefits for Greece:
•Securing Investment Pipelines: The €750 million pipeline reflects the significant global interest in Greece’s Golden Visa program, especially from regions like China, the Middle East, and Turkey.
•Accommodating Demand: Investors faced challenges meeting the initial deadlines due to procedural delays and increased demand for property transactions.
Benefits for Investors
The extension allows potential investors more time to finalize their applications under the existing terms. Key benefits include:
1.Lower Investment Threshold: Invest in Greek real estate for as little as €250,000 in eligible regions.
2.Schengen Zone Access: Residency permits allow visa-free travel to 27 Schengen countries.
3.High Returns on Real Estate: Greece’s property market offers competitive rental yields and long-term capital appreciation.
Upcoming Changes Post-February 2025
Starting in March 2025, the minimum investment for Greece’s Golden Visa in high-demand areas will increase to €500,000. This makes the current window a crucial opportunity for investors seeking to secure residency at the lower threshold.
Impact on Greece’s Economy
The Golden Visa program has significantly contributed to Greece’s economic recovery post-crisis. Key impacts include:
•Increased Foreign Direct Investment (FDI): The program attracts billions in real estate and business investments annually.
•Boost to Tourism and Real Estate Markets: Foreign investors often develop properties that stimulate local economies.
•Strengthened Global Appeal: Greece remains a top choice for residency-by-investment due to its Mediterranean lifestyle, strategic location, and access to Europe.
Conclusion
The extension of the Greece Golden Visa deadline offers a last chance for investors to capitalize on the program’s current benefits before the threshold increases. With a €750 million investment pipeline at stake, Greece continues to solidify its position as one of Europe’s most attractive destinations for foreign investors.
For those seeking a foothold in Europe with lucrative investment opportunities, this is the ideal time to act.
