The Greek Ministry of Migration has reported a significant 28.5% decrease in Golden Visa applications for April 2025 compared to the same month in 2024. Only 564 new applications were submitted in April this year, down from 790 the previous year. This marks a notable slowdown in demand for one of the most popular residency-by-investment programs in Europe.
Policy Changes Behind the Decline
The decline is widely linked to policy reforms first announced in September 2022 by Greek Prime Minister Kyriakos Mitsotakis, which increased the minimum investment threshold required to obtain a Golden Visa. These new rules officially took effect in January 2025.
While the government intended to attract wealthier investors and maintain housing market stability, the adjustment has resulted in temporary reluctance from prospective applicants. Industry experts, including Dimitris Biniaris, President of the Federation of Real Estate Brokers of Greece, suggest that the reforms have created distortions in investor interest.
Program Overview: Why the Golden Visa Remains Attractive
Despite the recent decline, Greece’s Golden Visa Program continues to be a leading option for non-EU nationals seeking European residency. The program grants a five-year renewable residence permit in exchange for qualifying investments, most commonly in real estate.
Key Features of Greece’s Golden Visa:
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Residency in a Schengen Area country
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No minimum stay requirement in Greece
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Access to Greek healthcare and education
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Pathway to permanent residency and citizenship
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Family inclusion (spouse and children under 21)
Strong Growth in 2024 Offsets April Decline
Despite the April setback, 2024 was a record year for the Golden Visa Program. According to IMI Daily, a total of 9,289 applications were received in 2024—10% more than in 2023. From 2018 to 2024, the program saw a 25% increase in total applications, proving its lasting global appeal.
Leading Countries by Number of Golden Visas:
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China: 6,398 approved
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Türkiye: 1,367 approved
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Lebanon: 775 approved
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Iran: 556 approved
Investors from China continue to lead in participation, representing the majority of issued visas.
2025 Reforms and New Investment Routes
In a move to further evolve the program, Greece introduced new options and requirements in January 2025:
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Increased minimum investment amounts
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New startup investment pathway
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Emphasis on attracting high-net-worth individuals with long-term interest in Greece
These reforms are part of the government’s plan to ensure the program remains relevant in a competitive European market for residency-by-investment programs.
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