Recently, the Greek Ministry of Development and Investment formally submitted an immigration amendment to the parliament, clarifying the details of the golden visa reform.

At present, the bill has been passed, and the new policy of Greek housing immigration has finally settled.

Let's take a look at the implementation details of the New Deal

Rule 1: Price increase area

Areas where the price increases to €500,000:

The northern, central and southern areas of Athens in the Attica region;

Other cities and islands: Thessaloniki, Santorini, Mykonos.

From May 1, 2023, the minimum investment amount in the above areas will increase to 500,000 euros, while other areas will remain at 250,000 euros.

Rule 2: Transition Period

In order to protect the rights and interests of investors, the amendment sets a transition period.

Before December 31, 2023, investors can still invest 250,000 euros in real estate in the core area of Athens and obtain permanent residence status as long as they meet the following two requirements:

Before April 30, 2023, sign the reservation agreement and pay at least 10% (not less than 25,000 euros) down payment for the purchase of the house;

Before December 31, 2023, pay the full amount and complete the transfer.

Rule Three: Purchase Restrictions

The Greek golden visa 250,000/500,000 euros will implement dual policies and limit the number of houses purchased.

The new policy stipulates that applicants can purchase up to two real estate properties with a total value of at least 250,000 euros or 500,000 euros.

Both properties must be located in the same building;

You can only invest in one set of properties that are not in the same building.

In other words, only one property is allowed in the area where the price rises to 500,000 euros.

In addition to the price increase rules, the Greek Immigration Bureau also announced two new immigration-related policies:

Open the green card online application platform

From November 16, 2022, the electronic appointment platform of the Greek Immigration Service will resume the first residence permit application of third-country citizens in a new "digital" way.

At present, the application for the Greek golden visa can be submitted through the online platform, which saves the time for submitting the immigration application.

Recognize the Hague POA certification

In order to improve the investment efficiency of third-country investors, The Hague POA has been officially recognized by the Greek Immigration Service from now on.

Investors only need to sign the Hague POA to entrust a lawyer to handle real estate transfer and submit identity application.

① Hague certification is Apostille certification, also known as "Hague Convention" certification.

② Hague certification is a certification method developed by Hague member states for the mutual recognition of documents.

③ The purpose of Hague certification is to prove the authenticity of the document, and the Hague certification can enable the document to be transmitted and recognized among all Hague member states.

The two new immigration policies are concrete manifestations of the Greek Immigration Bureau simplifying the immigration application process and speeding up the approval process, which will help investors complete the 250,000 euro house purchase and immigration application before the political change.

After the implementation of the new immigration policy in Greece, the free choice of investment areas, portfolio purchases, etc. will be restricted.

If you have plans to immigrate to Greece, please seize the last 4 months and lock in the old policy! For application details, please consult Xingyunhai International.