Neighbor increases residency fee: 800 thousand euros
Greek Prime Minister Kyriakos Mitsotakis noted that the government will make changes to the 'Golden Visa' program in Greece, and that the minimum required real estate value could be increased to 800 thousand euros.
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In his speech to parliament, Mitsotakis stated that the government would soon intervene in the 'Golden Visa' program, noting that the lower limit for the 'Golden Visa' could be raised.
The Greek Prime Minister stated that the lower limit could be increased to 800 thousand euros in regions where demand for real estate is high.
Greece introduced the 'Golden Visa' program in 2013 to attract foreign capital to the country following the economic crisis that began in 2009. With this program, foreigners who invested at least 250 thousand euros in real estate were granted a 5-year residence permit.
In this context, many investors from countries outside the European Union (EU) purchased real estate in Greece, primarily in the capital Athens and the city of Thessaloniki, with the aim of obtaining a 'Golden Visa,' which also provides Schengen travel convenience.