The New Golden Visa Framework (2025): Complete Guide with Investment Examples
Overview of the New Golden Visa Rules
The updated Golden Visa program introduces streamlined procedures, unified documentation, and shifts investment focus toward projects that enhance urban regeneration, heritage preservation, and housing availability.
Example: What This Means for Investors
- Investors who previously targeted residential apartments for Airbnb will now need to redirect their focus.
- Demand is expected to rise for older buildings, listed properties, and industrial spaces suitable for redevelopment.
- Unified Documentation Requirements
All Golden Visa applications now require the same core documentation, regardless of investment type.
Example: When Buying a Renovated Apartment
A foreign investor purchasing a renovated apartment worth €250,000 will need:
- €2,000 electronic application fee
- Private health insurance
- Proof of legal entry (Schengen visa)
- Notary certification confirming full payment
- Updated E9 of the property
Application can be submitted remotely, and biometrics later.
- Restriction on Short-Term Rentals (Airbnb)
Short-term rentals are prohibited for Golden Visa investments made after 2024. This directs investors toward long-term rental markets or alternative property investment models.
Example: Allowable Use Case
An investor purchasing a €350,000 apartment can:
- Rent it long-term (12-month + contracts)
- Use it as a private residence
- Lease under a 5-year hotel/tourist accommodation contract
They cannot: - List it on Airbnb or similar platforms.
- Industrial Building Conversion Rules
Investments involving conversion of industrial properties must include a technical report confirming no industrial activity in the last 5 years.
Example: Converting an Old Warehouse
A €300,000 purchase of an old warehouse + €200,000 renovation qualifies if:
- The engineer confirms no industrial use since 2019
- Electricity disconnection documented via ΔΕΔΔΗΕ
- E2 forms show no tenant activity
Total investment: €500,000 → Eligible for Golden Visa.
- Investments in Land Plots & Listed Buildings
Both land purchases and construction costs can count toward the investment threshold.
Example: Building a Villa on a Land Plot
Investor buys:
- Land plot: €120,000
- Construction contract: €180,000
Total investment: €300,000 → Qualifies for Golden Visa.
Example: Restoring a Listed Property
Investor buys listed property: €150,000
Restoration: €170,000
Technical report must prove project completion.
Total: €320,000 → Eligible investment.
CK Accounting & Tax Services Firm
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