Greek Golden Visa
Greek Golden Visa: New Investment Tiers

Amidst a surge in popularity of the Greek Golden Visa Program last year, the Greek government has now revealed the long-awaited new real estate investment thresholds for the program.

Over recent weeks, anticipation has been high as official statements and insider reports hinted at impending changes to the program’s real estate regulations. Despite this anticipation, the specifics remained elusive, with varying reports circulating regarding the proposed alterations.

After considering multiple proposals and evaluating different price tiers for various regions, the Ministry of Finance has finally announced on March 21st the definitive rules. These rules are now poised for parliamentary approval.

The key points of the new real estate investment rules in the Greek Golden Visa Program bill, as announced by the Ministry of Finance, include:

1- Investments must now be made in a single property with a minimum area of 120 square meters, as opposed to the previous option of investing in multiple properties reaching the required minimum value.

2- These rules will come into effect on the 31st of March, with a transitional period for current applicants.

3- Property investment options:

1)   € 800,000 minimum in:

  •  Attica and its administrative regions (including Piraeus and most of the capital region).
  •  Thessaloniki’s regional units.
  •  Mykonos’s regional units.
  •  Santorini’s regional units.
  •  Islands with a population exceeding 3,100.

2)   € 400,000 minimum in all other regions of Greece.

3)   An exception is granted for property investments valued at € 250,000, irrespective of the property’s location or size, provided it meets one of the following conditions:

a) Conversion of commercial properties to residential, with the conversion completed before applying for the Greece Golden Visa .

b) Restoration of listed buildings, either by renovating it or completely rebuilding it. It is required that the renovation be completed by the fifth year of residency if the investor wishes to renew their Greek Golden Visa.

4- Restrictions will be imposed on property usage:

1)   Greek Golden Visa investors are prohibited from short-term rental of their properties, such as AirBnBs.

2)   Investors cannot use properties qualified through the conversion of commercial real estate to residential as registered company headquarters.

3)   Non-compliance with property usage restrictions will result in the revocation of the residence permit and an administrative fine of € 50,000. It remains unspecified whether these restrictions will apply to current or new Greek Golden Visa holders only.

It is highly likely that the bill of the Greek Golden Visa program will pass with minor changes in Parliament due to the government’s majority, with slim chances of significant alterations before final publication.

These updates to Greek Golden Visa program mark a new chapter in Greece’s approach to attracting foreign investment, offering varied opportunities for investors to contribute to and benefit from Greece’s growth while securing a future in this vibrant and historically rich nation.

You can always follow the official website of NTL, as we are committed to keeping track of the latest updates related to investment citizenship and investment Residency.

Türkiye’s Transition to The Electronic System E-Devlet

Türkiye’s Transition to The Electronic System E-Devlet

Türkiye’s transition to the Electronic system:
Day-after-day e-government services in Türkiye contribute to facilitating the daily lives and transactions of citizens and residents by saving time and efforts. These services vary between municipal services, ministries services, issues related to judicial cases, registration procedures for exams and universities, health and social insurance procedures. Besides, patients can obtain appointments at hospitals through the Internet, in addition to the possibility of applying for unemployment aids and applying for a passport.

Turkish Economy Exceeded Expectations

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The Turkish economy delivered a performance that exceeded expectations last year and is forecast to post significant growth this year.

According to the Investment Office of the Presidency of the Turkish Republic, Türkiye has jumped up 10 places and ranked 33rd in the World Bank’s Doing Business 2020 report. It ranked 69th in 2017, 60th in 2018, and 43rd in the 2019 editions of this report.

More than 48 million visitors on New Year’s Eve in Türkiye

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The charming Türkiye, The Top Tourist-Generating Country.
Türkiye ranked fourth in Europe in the list of best tourist hosts. Where it hosted in the eleven months of the year 2019 until the eve of the New Year nearly 48 million and 46 thousand and 732 visitors. The largest number of visitors were from Russia, Germany and the United Kingdom, followed by Bulgaria, Iran and Georgia, with expectations of receiving 70 million tourists before 2023.

Languages, Official Exams and University Admission in Türkiye

Languages, Official Exams and University Admission in Türkiye

It is said: “The Turkish language does not accept competition in its country.” Therefore, anyone who thinks about life, learning, and work in Turkey must seriously consider affiliation with the Turkish language teaching institutes for foreigners, which vary in three sources: public universities institutes, private centers, and municipal centers, the differences between these sources are reflected in the curriculum and method of language teaching and whether it focuses on teaching the daily life language, or the academic language, and in the schedule of these courses Quarterly system as in universities or other system, as well as tuition fees for these courses, and the privileges like accredited certificate at most Turkish universities.

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Types of Schools and Universities in Türkiye

A family residing in Turkey has several options for teaching children in Turkish schools and universities, Let us begin with schools that vary between public and private schools.