In a significant move for international investors, Greece has extended the Golden Visa deadline to 28 February 2025, granting applicants additional time to finalise their property contracts. 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 conditions?
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.
Why 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 interest in Greece continues to grow
The surge in Greek Golden Visa applications is unsurprising, 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.
Now is the time to act
The shifting deadlines among European Golden Visa providers highlight the importance of seizing opportunities promptly.
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