In summary, all the changes of the new Golden Visa receiving status regulation are as follows:
To receive the Golden Visa, the property must have an area of at least 120 sq.m.
In Attica, Thessaloniki, Santorini, Mykonos and islands with more than 3,100 inhabitants, the limit increases to 800,000 euros from 500,000 euros.
In the rest of the regions, the limit increases from 250,000 euros to 400,000 euros.
For conservation properties and industrial properties that are converted into residences, the limit remains at 250,000 euros.
As long as the real estate remains with the investor, the Golden Visa can be renewed even after five years.
Those who pay the price or make an advance payment of 10% by the end of September will be able to complete the purchase by the end of the year under the terms that applied before. In the event that the purchase of the property is not completed, the buyer can complete his investment in another property under the terms that have been in force until April 30, 2025
In the event that someone does not comply with the legislation, a fine of 50,000 euros and revocation of the license is foreseen.
Additionally, the properties are not allowed to be made available for airbnb.
It is allowed to buy a percentage of a property in undivided co-ownership, however, the minimum value is respectively 800,000 and 400,000 euros.
For whom an extension of the current legislation is foreseen
Prospective buyers who pay a 10% down payment by the end of September will be able to complete the purchase by the end of the year under the terms that applied before. In the event that the purchase of the property is not completed, the buyer can complete his investment in another property under the terms that have been in force until April 30, 2025.
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