Investment immigration officials are expressing concern over the Prime Minister Kyriakos Mitsotakis's sudden announcement from TIF to change the Golden Visa program.
Investment immigration officials are expressing concern over the Prime Minister Kyriakos Mitsotakis’s sudden announcement from TIF to change the Golden Visa program.
In particular, an increase in the minimum required investment amount for the purchase of real estate from the current 250,000 euros to 500,000 euros will be established. Thus, an attempt will be made to increase the real estate availability for citizens.
In this context, the intention of the ministry is that there are no surprises and that the new framework is not retroactive. This means that all applications for residence permits submitted before the entry into force of the new framework will be submitted with the old limit of 250,000 euros.
In fact, it is possible that such differentiation will lead to an increase in the number of applications, since the number of interested investors who want to take advantage of this “window” and purchase cheaper real estate will increase dramatically.
Another important parameter concerns the possibility of a ban on the acquisition of two or more properties. 500,000 euros should only concern one object. Otherwise, interested parties (as some are doing today) could purchase, for example, five apartments for 100,000 euros each, which effectively nullified the government’s intention to increase the supply of real estate on the market.
Until the law is passed, do not miss your chance and invest on Greece real estate favorable terms for you!
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