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In a notable development for global investors, Greece has extended the Golden Visa deadline to 28 February 2025, providing applicants with extended time to complete their property transactions. Originally set for 31 December 2024, the extension aims to provide greater flexibility and ensure a smoother application process for existing investors. With the extended deadline, securing foothold in Europe through Greece’s Golden Visa program is now more accessible.
What Are the Requirements?
Under this extension, investors completing their contracts within the new timeframe will remain eligible for the current investment threshold of €250,000–€500,000. Authorities in the Hellenic Republic have announced that investors who placed a 10% deposit on a Greek property before August 31, 2024, will have an extended deadline to complete their contracts by February 28, 2025. This decision aims to prevent agreement cancellations and potential legal disputes.
Additionally, investors who made a 10% deposit before August 31, 2024, but were unable to complete their initial purchase may now pursue a separate property investment under the lower thresholds, provided they finalize the purchase by April 30, 2025.
This grace period precedes the implementation of the new investment framework announced in March. Under the updated rules, the minimum investment threshold will rise to €800,000 in prime locations such as Santorini, Mykonos, and the Attica region, while other areas will require a €400,000 investment. The €250,000 threshold will still apply to residential conversions from commercial properties and listed buildings. Additionally, in 2025, Greece plans to introduce a new investment category, allowing applicants to obtain a Golden Visa by investing €250,000 in startups.
What Prompted the Extension?
The heightened interest in the Golden Visa program, after the announced updates to its pricing and requirements, led to a massive backlog of 31,000 applications and renewals that extended processing times up to 18 months in early 2024.
This surge overwhelmed administrative systems, prompting the government to introduce a grace period to ensure pending transactions can be finalised, accommodate investor needs, and preserve access to the program’s existing requirements. Ultimately, Greece hopes to preserve approximately 3,000 pending real estate transactions valued at €750 million through this extension. Reports highlighted the government has also tackled this bottleneck by distributing applications across regional authorities rather than processing them exclusively in Athens.
Why Greek Investment Appeal Continues Rising
The increase in Greek Golden Visa applications comes as no surprise, given the program’s numerous benefits for investors, such as the following:
Data from the Migration and Asylum Policy Ministry show that in October 2024, 12,577 initial applications were submitted—a 12% increase compared to October 2023, when 11,229 applications were recorded.
Most applicants came from China, Türkiye, Lebanon, the United Kingdom, and the United States, underscoring Greece’s ongoing appeal among global investors.
The Time for Action Is Now
The evolving timelines across European Golden Visa programs underscore the critical need to capitalize on opportunities swiftly.
Contact one of our experts today to navigate a better future for you and your family.
