In 2023, the Greece Golden Visa was the reigning king of global and EU residency by investment programs, a title it was expected to keep in 2024 – but that all is about to come to an abrupt end with the Greek Golden Visa changes.
Astons’ Athens office of industry experts and seasoned local insiders has learned, from our established network of reliable, well-connected sources [who themselves are positioned to know,] that the Greece Golden Visa, as we currently know it, will be gone in a matter of weeks.
What’s about to occur will have consequential impacts on the global community of entrepreneurs, investors, and families considering Greece but failing to act before the deadline.
It should be noted that Astons’ clients who submit applications before the deadline hits will get to keep the conditions of the current Golden Visa program, even if they don’t receive their official approval until after the deadline expires.
Here is what you need to know ~
The Greek Golden Visa – The reigning king of EU Golden Visas
Investment migration, better known as citizenship by investment and Golden Visa programs, is a global industry with limited but exclusive options for the world’s discerning entrepreneurs, investors, and families.
The industry has been built from the ground up with two primary foundations:
- Leverage the sovereign rights of nations to attract foreign direct investment [FDI] as a means to fund the needs of their society without having to impose those expenses onto their people to accomplish such goals
- To empower global citizens with self-sovereignty, allowing them to elevate their lives, lifestyles, investment portfolios, generational wealth, and secure the best Plan B that money can buy
Primarily due to the second factor, countries that operate investment migration programs are under constant attack by global forces – which some would call the New World Order – to terminate their programs.
In 2023, these attacks reached unprecedented levels and had, unfortunately, catastrophic impacts on entrepreneurs, investors, and families.
When extremely powerful programs face termination, such as the Portugal Golden Visa in 2023, or external influences designed to exclude otherwise eligible investors, such as what occurred with St. Kitts and Nevis citizenship by investment program in 2023, it’s time not simply to take notice but to act fast.
That time is now for the Greek Golden Visa.
The Golden Visa program – From 2013 to now
Greece launched its official residency by investment program in 2013, and it did not take long for it to become one of the world’s most popular investment migration programs.
The Greek residency by investment program has been a success for four reasons:
- It’s Greece
- It’s a real estate-based program, and the entire country was an eligible property market
- The program offers the most privacy-focused and least intrusive due diligence of all EU programs
- It was the lowest required investment for EU residency
Those factors resulted in a very successful track record for the Golden Visa’s 10-year lifespan – there have been:
- Over 25,000 applications submitted
- Almost 17,200 applications approved
That is approximately an overall approval rate of 68%, but Astons’ application approval rate has been 100% for our clients in the Greek Golden Visa program.
During its reign as the King of EU Golden Visas, the Greek residency by investment has incurred two significant changes:
- In 2023, the required investment doubled for select Greek property markets, including Athens, Santorini, and Mykonos [resulting in an investment minimum among the highest in the EU] – while the rest of Greece remained the same
- The upcoming change will double the required investment for the remaining markets, making the Greece Golden Visa among the most expensive in the world
Thus, with an estimated one out of every three Golden Visa applications denied in Greece, the group of Greek Golden Visa holders may soon become even more exclusive.
The current Golden Visa program
The Greek Golden Visa is the lowest required investment for EU residency.
The residency by investment program is real estate-based, and for those who submit applications before the upcoming changes in May 2024, this is the program you can leverage:
Greece Real Estate Investment with a Minimum Value of €250,000
- Residence permit granted for five years
- The investor can invest in one or multiple properties with a collective value of €250,000 [approx. $270K]
- Residency can be renewed in 5-year intervals, provided that the applicant still owns the property
Under the current program, the €250,000 minimum requirement applies to most of the country but not all.
For example, some of the Greek Isles, such as Santorini and Mykonos, require a minimum investment of €500,000 [approx. $540K].
But, the €250,000 minimum requirement still applies to the remaining cities and Greek Islands, including:
- Thessaloniki [certain areas]
- Athens [certain areas]
Until May 2024, that is.
The deadline for the Greek Golden Visa changes
Beginning May 2024, the current deadline, all entrepreneurs, investors, and families who seek Greek permanent residency through the Greek Golden Visa program will be required to pay a minimum of €500,000 [approx. $540K] regardless of where they buy property in Greece.
However, Greek Golden Visa applications that Astons submits before the changes take effect, those applications will keep the current program conditions and the current investment minimum of €250,000 [approx. $270K] even if our clients have not received approval when the changes occur.
Thus, if Greece is your dream, it is time to make it your reality.
The disappearing EU Golden Visa
It should be noted that the European Union, not the individual countries but the umbrella governing body, is among the most powerful opposing forces to all citizenship by investment and Golden Visa programs.
The EU, along with the United States, have been actively influencing changes to these global programs that have rendered otherwise eligible investors no longer capable of owning and elevating their self-sovereignty status.
Dual citizenship, a second passport, and residency diversification are the most powerful backup plans any citizen can own and, simply stated, the best Plan B money can buy.
What was once called the Most Developed Countries in the world, such as the United States, the United Kingdom, and Russia, have been on the decline for years now – a trajectory that does not appear will change for the good any time soon.
Once the strongest passports in the world, they have declined consistently over the past decade while EU countries lead the world with:
- The highest quality of life
- The highest levels of satisfaction
- The strongest passports in the world
- State-of-the-art medicine and hospitals- and the individual rights to access medical procedures
- The best educational opportunities
- Lucrative Non-Dom tax programs
While many non-EU citizens and non-EU residents consistently cry – but how much do you pay in taxes?
EU citizens and EU residents simply respond, what do you get for the taxes you pay?
Greek Golden Visa Changes – the price doubles
Come May 2024, the required investment for the Greek Golden Visa doubles to €500,000 [approx. $540K].
Astons’ clients who submit a Greek residency by investment application before the deadline will keep the current €250,000 [approx. $270K] minimum.
Only weeks remain, and only a handful of EU Golden Visas still exist – and the current Greece program offers the lowest investment cost.
The time to act is now – Schedule a Free Confidential and Comprehensive Consultation with Astons and we can secure your Greek dream at the current investment price.