Greece Extends Golden Visa Deadline to February 2025

The Greek government has extended the Golden Visa property contract deadline from December 31, 2024, to February 28, 2025. This decision covers approximately 3,000 pending real estate transactions worth €750 million and benefits investors who placed a 10% deposit before August 31, 2024, but faced administrative delays in completing their purchases.

Legislative Measures to Support Investors

Parliament has approved this measure, which establishes that "procedures already at an advanced stage" qualify for "a two-month extension for obtaining residence permits." The decision aims to prevent agreement cancellations and potential legal disputes while allowing investors to retain access to the previous investment thresholds of €250,000 to €500,000.

Why the Changes Were Necessary

Earlier in 2024, Greece announced modifications to its Golden Visa program in March, introducing a new investment framework that led to a surge in applications.

The changes raised minimum investment thresholds to €800,000 in prime locations, such as Santorini, Mykonos, and the Attica region, and €400,000 for all other regions of Greece, while preserving the €250,000 threshold for commercial-to-residential conversions.

The government also addressed application delays caused by a backlog of 31,000 submissions. By distributing responsibilities across regional authorities and adopting zoning-based processing, waiting times have been significantly reduced to around three months.

However, Greece has introduced a new framework that has cut that time down to 3 months through utilizing zoning application processes.

What’s Ahead for Greece’s Golden Visa and Investors

Looking ahead, Greece plans to launch a new investment category in 2025, allowing contributions of €250,000 to startups. This addition is expected to further diversify Options for Greece investment visa attract a wider range of investors.

As Greece continues to refine its Golden Visa program and streamline its application process, the country remains an attractive destination for foreign investors seeking residency in the European Union. The deadline extension and ongoing improvements raise the reputation of the program as a popular choice among global investors.

For expert guidance on the Greek Golden Visa program and assistance with the application process, contact Savory & Partners, a leading global investment migration firm with a proven track record of success. Their experienced team can help investors navigate the evolving landscape of the Greek Golden Visa and secure their residency in this stunning Mediterranean nation.