The rules for the Greek Golden Visa changed on September 1st, 2024. If I am from America, Canada, the UK, Australia, or another non-EU country, what options do I have for buying a home in Greece? What are my alternatives to the Golden Visa?
What is the Greek Golden Visa?
The Golden Visa program in Greece is a residency-by-investment program. By purchasing real estate above a certain price in Greece, you are eligible to apply for the Golden Visa, which grants residency, restriction-free Schengen Zone travel in Europe, and family inclusion.
What Changed About the Greek Golden Visa?
For the Attica region (Athens), Regional Units of Thessaloniki, Mykonos, Santorini, and the Greek islands with a population over 3,100 inhabitants, the minimum price for a Golden Visa is now 800,000 Euros. For all other areas of Greece, the minimum price of a property to apply for a Golden Visa is now 400,000 Euros.
Another important change is that the property used to obtain a Golden Visa can no longer be used for short-term rentals.
What Are My Options?
If you are an EU resident, you can basically skip this article, as the new legislation is not relevant to you. You can still buy every property you wish, use it the way you wish and stay in Greece for as long as you wish.
If you are a non-EU resident buying a home in Greece, the new Golden Visa minimums apply. You have the following options:
1. Buy a Property of At Least 400,000 Euros
The 400,000 Euro threshold applies to properties on the Greek mainland (besides Athens and Thessaloniki) and also to properties on the small Greek islands of fewer than 3,100 residents.
You can use this home in Greece as a holiday home or as a permanent home for your retirement, as long as you don’t rent it out through platforms like AirBnB or Booking.com.
2. Buy a Property of At Least 800,000 Euros
The 800,000 Euros threshold applies to properties in Athens, Thessaloniki, or one of the Greek islands with more than 3,100 residents.
You can use this home in Greece as a holiday home or as a permanent home for your retirement, as long as you don’t rent it out through platforms like AirBnB or Booking.com.
3. Apply for a Different Visa in Greece
There are other Visas besides the Golden Visa. Some common Visa options are the FIP (Financially Independent Person) Visa and the Digital Nomad Visa.
4. Buy a Home in Greece Without a Golden Visa
You can still buy a home in Greece without a Golden Visa. In fact, this is a popular option, especially if you plan to rent out your home in Greece. If you buy a home in Greece without a Visa, you can stay in Greece for 90 days every six months.
The advantage of buying a home without a Golden Visa is that you can still enjoy Greece for your holidays, you can buy a property anywhere in Greece at whatever price you like, and you can rent it out as much as you want.
