The Greek Golden Visa Amendment is settled! A first look at the implementation details of the New Deal

On December 21, local time, the Greek Ministry of Development and Investment submitted an amendment to the "Golden Visa" to Parliament.

The implementation rules of Greece's "Golden Visa" New Deal:

        1. Two investment thresholds of 250,000 or 500,000 euros;

        2. Before December 31, 2023, if the requirements are met, you can still invest 250,000 euros in real estate to obtain permanent residence status;

        3. The Hague POA is officially recognized by the Greek Immigration Service.

        The above is the content of the amendment submitted to Parliament on December 21, please see the detailed introduction.

        Link to the original text of the amendment:

　　https://www.hellenicparliament.gr/UserFiles/bbb19498-1ec8-431f-82e6-023bb91713a9/12169780.pdf

　　1. New Deal Price Increase Areas The areas where the price increases to 500,000 will include: the northern, central and southern areas of Athens in the Attica region, Thessaloniki, Santorini, and Mykonos.

1. Northern region: Agia Paraskevi Marousi Vrilissia Heraklion Kifisia Ly kovrisi-Pefki Metamorfosi Nea lonia Papagos-Holargos Penteli Filothei-Psyhiko Chalandri

2. Central region: Athens Vyronas Galatsi Dafni-Ymmitos Zografou Ilioupoli Kaisariani Filadelfeia - Halkidona

3. Southern Region: Agios Dimitrios Alimo Glyfada Elliniko Kallithea Moschato Tavros Nea Smyrni Palaio Faliro Argyrupoli

Four, Thessaloniki Thessaloniki

Five, Mykonos Mykonos island

6. Only one set of real estate is allowed in areas above Santorini island, and the minimum investment is increased to 500,000 euros; other areas remain at 250,000 euros.

2. The price time node is before December 31, 2023. Investors in the above regions can invest 250,000 euros in real estate and obtain permanent residence status as long as they meet the following two requirements: 1. Sign a reservation agreement, and on April 30, 2023 10% of the house payment must be paid no less than 25,000 euros to the developer's account; 2. The property purchased by the investor must be transferred before December 31, 2023.

3. Hague POA In this revision meeting, the legal use of Hague POA was specially discussed and approved. From now on, Hague POA is officially recognized by the Greek Immigration Bureau. Investors only need to sign Hague POA to entrust a lawyer to handle real estate transfer and submit identity Apply.

Greek Minister of Development and Investment Azonis Georgiadis explained the reason why the government started to revise the legal framework of the "golden visa" during a debate in the Greek parliament on the 21st. He said that since the "golden visa" was officially launched, this program has brought about 3 billion euros of investment to Greece. However, in the central areas of major cities such as Athens and Thessaloniki, rental prices have repeatedly been pushed up by construction activity, a revival of the real estate market and the massive growth of the Greek economy in recent years, coupled with the promotion of "golden visas". , in order to alleviate people's pressure on buying and renting houses in these areas, the government needs to readjust the investment threshold for the "golden visa". In addition, Georgia Des also mentioned that in order to protect the rights and interests of investors to the greatest extent, the new amendment also leaves a certain "window period" for investors. According to regulations, investors who have signed a house purchase agreement and paid a deposit before April 30, 2023 will still enjoy the previous "golden visa" program. But these people must complete the property settlement before December 31, 2023.

It is worth mentioning that at the 2022 World Travel Awards (World Travel Awards) European event held on the island of Mallorca, Spain recently, Greece received many heavyweight awards: Athens won the award of "Europe's Leading Cultural City Destination", Attica The region was named "Europe's Leading Sustainable Tourism Destination". In addition, Greek hotels have achieved great success in the red carpet event, many different types of hotels have won multiple awards, and Greek travel agencies and tourism bureaus have also received the highest honors! The "Greece Golden Visa" was launched in April 2013. It only needs to purchase real estate worth 250,000 euros or more to apply for one person, and three generations of immigrants can obtain the status together. Moreover, as a member of the European Union and a member of Schengen, Greece is currently free to enter and exit 26 Schengen countries (from January 1, 2023, Schengen country +1), and can also enjoy the benefits of EU membership after naturalization. Coupled with the blessing of no immigration supervision, Greek immigrants who buy houses have naturally become the darling of investors.