Greece Golden Visa: New Rules for Investors in 2026

The Greece Golden Visa is a residence permit to non-EU/EEA nationals who make an investment in Greece. The permit is valid for 5 years and is renewable indefinitely, provided the investment is retained, and carries no minimum stay requirement.

The program does not confer EU citizenship, grant the right to work in Greece, or automatically create tax residency.

Legal foundation. The Golden Visa is governed by three legal provisions:

• Law 4251/2014 established the Greece Golden Visa;
• Law 5038/2023 became a first amendment and established a new threshold;
• Article 64 of Law 5100/2024 overhauled the investment threshold structure entirely by introducing a three-zone geographic model.

In recent years, the investment thresholds have changed twice. These changes represent the most consequential reforms since the program launched, and understanding each legislative layer is essential before committing to any investment.

Rise of threshold in high-demand regions in 2023

Law 5038/2023 took effect on 1 May 2023 and raised the minimum real estate investment from €250,000 to €500,000 in designated high-demand areas, including the Region of Attica, the Regional Unit of Thessaloniki, and the islands of Mykonos and Santorini. All remaining areas of Greece retained the €250,000 threshold.

Investors could protect the lower €250,000 price under a transitional arrangement: a deposit of 10% of the total purchase price paid before 31 July 2023 locked the applicant into the old threshold, provided the final sale was completed by 31 December 2023. This transitional mechanism is now closed.

Three-zone system effective 2024

Law 5100/2024 introduced a definitive three-zone threshold model, which replaced the €500,000 threshold for all types of property. Under that law, investors could choose among €250,000, €400,000, and €800,000 thresholds, depending on the location and type of property. 

These new rules are now permanent law, not transitional. The new zones and minimum investment amounts are below.

New startup investment route from 2026

In 2024, Article 44 of Law 5162/2024 implemented another option for a Greece Golden Visa. It demands contributing at least €250,000 to a company registered in the Elevate Greece National Registry of Startups, either through a capital increase — acquiring new shares — or by acquiring bonds during a bond loan issuance.

The route became operational in early 2026 following the publication of the implementing Ministerial Decision.

There are several investment options for Greece Golden Visa applicants, including purchasing real estate. The threshold starts at €250,000.

Real estate investment of €250,000 or more

The primary and most popular route remains direct property purchase. 

The zone-based thresholds introduced are:

•  €800,000 for Region of Attica, Regional Unit of Thessaloniki, the islands of Mykonos and Santorini, and all islands with a registered population exceeding 3,100 inhabitants;
•  €400,000 for all other regions of Greece not captured by Zone A, including many mainland areas, less-populated islands, and rural locations;
• €250,000 for properties converted from commercial to residential and listed heritage buildings purchased for restoration or reconstruction.

The purchase must be made in a single property — splitting the investment threshold across multiple units is not permitted, except where co-owners are spouses or registered cohabiting partners. For properties with a price of €400,000 or €800,000, the main floor area must be at least 120 m². 

Properties acquired for the Golden Visa are prohibited from being listed or operated on short-term rental platforms such as Airbnb.

In the case of an undivided co-ownership share, the value of that share must independently meet the relevant minimum.

Investment fund units of €350,000

Investors may acquire units in a real estate investment trust or other investment fund registered and operating in Greece, provided the minimum investment is €350,000, and the fund's statute targets investments in Greek real estate.

This route does not involve direct property ownership and therefore avoids transaction taxes and ownership-related compliance. The investment must be maintained for the duration of the residence permit.

Bank deposit of €500,000

Investors may place at least €500,000 as a term deposit with a credit institution established in Greece. The full amount must remain on deposit, and the account must not be closed or reduced below the threshold during the permit's validity. This option provides capital preservation but no property or equity upside.

Startup investment of €250,000

Foreign applicants may invest at least €250,000 in the capital of a startup registered in the Elevate Greece National Registry of Startups, either through a share capital increase or by acquiring bonds in a bond loan issuance.

Key conditions for maintaining the permit:

• investor's shareholding must not exceed 33% of the startup's capital;
• company must create at least two new jobs within the first year;
• those jobs must be maintained for at least 5 years from the investment date;
• residence permit is issued for one year initially, renewable for two-year periods as long as the conditions are met;
• if shares are sold, the investor has 2 months to reinvest in another vehicle to avoid permit revocationl
• no work rights are granted with this permit type;
• application fee is payable to the Elevate Greece registry.

The program is open to nationals of any country outside the EU and EEA. There is no approved nationality list, but certain restrictions apply. Core eligibility requirements and family inclusion rules are described below.

Main applicant eligibility criteria

Applicant must:

• be at least 18 years of age;
• hold a valid national passport or other travel document recognised by Greece, and must have entered Greece on a valid national visa;
• have a private health insurance policy covering all health and safety risks in Greece;
• provide a certificate of no criminal record from the country of nationality and, where applicable, from the country of prior residence;
• demonstrate source-of-funds evidence that proves the investment amount originates from legitimate income, business activity, inheritance, or asset sales;
• invest directly or through a legal entity in which the investor holds 100% of the shares.

Family members who qualify under the same application

Immediate family members of the main applicant may be included in the same application and receive residence permits of equal validity. Eligible family members are:

• spouse or registered cohabiting partner under Greek law, including same-sex couples;
• unmarried children under the age of 21, including children of both the main applicant and the spouse or partner;
• direct ascendants: biological parents or parents-in-law of both the investor and the spouse.

Each family member's permit is linked to the main applicant's permit. No additional investment is required for family inclusion, though individual government fees apply per person.

Who cannot apply: restrictions and exclusions

EU and EEA nationals are not eligible because they already hold freedom of movement rights within the European Union. Nationals of countries subject to EU-level arms embargoes, restrictive measures, or other prohibitions cannot normally receive a Greek residence permit. Applications from individuals who cannot demonstrate the lawful origin of their investment funds will be refused.

The Greece Golden Visa cost for those who invest in real estate includes not only the investment itself, but several governmental fees, transfer tax and maintenance expenses.

Government and administrative fees

The government fees are:

• residence permit application fee for the main applicant — €2,000;
• residence permit application fee for an adult family member — €150 per person;
• electronic permit card printing fee — €16 per person;
• national entry visa, if an applicant does not have a visa yet to enter Greece and apply for a permit — €180 per person.

Children under 18 years are exempt from a residence permit application fee.

Health insurance typically costs €300 per person.

Property acquisition costs: transfer tax, registration and notary fees

Transfer tax is levied at 3.09% — comprising a 3% base rate plus a 0.09% municipal surcharge — of the transaction value or the objective value of the property, whichever is higher, for second-hand properties. 

New-build properties that have not previously been sold are subject to VAT at 24% rather than transfer tax.

Notary fees are calculated as a percentage of the contract value, with the rate declining for higher-value transactions. For properties in the €800,000 range, total notary fees typically fall in the range of 0.8—1.2% of the purchase price.

Registration fees for transcription of the notarial deed at the Land Registry or Cadastre are approximately 0.475% of the transaction value.

Ongoing ownership costs

All Greek real estate is subject to the Unified Property Tax, or ENFIA, levied annually by the Greek Tax Authority based on the objective value of the property as recorded in the tax administration system. The ENFIA rate is calculated using a formula that considers property size, location, floor, and construction year. The annual charge for a high-value Athens property can amount to several thousand euros. 

Additional ongoing costs include property management fees — typically 5%—10% of annual rental income if the property is leased.

The Greece Golden Visa changes did not affect the core benefits attached to the permit. Holders retain the same Schengen travel rights, family inclusion options, and access to Greek public services as under the original rules.

1. Visa-free Schengen Area travel

A Greek residence permit authorises the holder to travel freely within the Schengen Area for up to 90 days every 180 days. The Schengen Area currently comprises 29 countries, including all major EU destinations and a number of associated non-EU states. Holders may travel without applying for a separate Schengen visa. Family members included on the permit enjoy the same Schengen access.

The residence permit remains valid even when the holder is not physically present in Greece. Because there is no minimum stay requirement, investors can live primarily in their country of origin and still maintain active Schengen travel rights throughout the year. 

2. Real estate market performance and rental yields

Greek properties eligible for the Golden Visa can generate average annual rental yields of 4—5%, rising to as much as 10% in high-demand periods. Athens in particular has registered price growth driven by strong tourism demand, limited housing stock in central districts, and the premium commanded by properties that meet the 120 m² minimum.

3. Flat 7% income tax for foreign pensioners

Individuals who receive a pension arising abroad and who transfer their tax residence to Greece are eligible to pay a flat rate of 7% on their total foreign-sourced income for each tax year. The tax is paid in a single instalment by the last working day of July each year.

4. Non-dom lump-sum tax regime for high-net-worth individuals

Investors with a Golden Visa who become tax residents in Greece can pay a fixed annual lump-sum tax of €100,000 on all foreign-sourced income, regardless of the actual amount earned abroad, for a maximum of 15 fiscal years.

The regime can be extended to close family members — spouses and those in the ascending or descending line — at an additional €20,000 per person per year. Greek-sourced income remains taxed under standard Greek rates. No double-tax relief is available on foreign taxes paid.

5. Access to healthcare, education, and public services

Golden Visa holders who reside in Greece regularly are entitled to register with the Greek national health system and access public healthcare services on the same basis as Greek citizens in residence. They are also eligible for coverage under the European Health Insurance Card, which provides access to publicly funded healthcare across all EU member states at reduced or no cost.

Dependent children listed on the Golden Visa permit can enrol in Greek state schools free of charge. Language barrier considerations aside, children of investor families living in Greece have full access to the national curriculum from primary through to secondary level.

The Greece Golden Visa is a residence permit, not a fast track to citizenship. It can, however, serve as the first step in a defined legal pathway towards permanent residency and ultimately Greek naturalisation.

Permanent residency after 5 years

After holding a valid residence permit for 5 continuous years and meeting additional integration criteria, an investor may apply for long-term EU residence status. The Golden Visa itself does not count days of physical presence toward the residency calculation unless the investor is actually residing in Greece — the permit allows presence, but does not deem it.

For investors who do not physically reside in Greece, the practical implication is that the five-year clock toward permanent residency only starts running when actual residence is established.

Greek citizenship by naturalisation after 7 years

Under the Greek Citizenship Code, a non-EU national may apply for Greek citizenship by naturalisation after 7 years of lawful and permanent residence in Greece.

The application for naturalisation requires:

• proof of 7 years of lawful residence. For Golden Visa investors, this means seven years of actual physical residence in Greece — not merely holding a permit;
• demonstration of Greek language proficiency at B1 level, evidenced by a certificate from an authorised examining body;
• civic integration interview covering Greek history and culture;
• clean criminal record in Greece and the country of origin.

Greece permits dual citizenship. Applicants who naturalise do not have to renounce their original nationality under Greek law, though the rules of the country of origin on dual nationality must also be checked.

Understanding the risks is an essential part of investment planning. The Greece Golden Visa program changes have introduced layers of eligibility complexity that create specific pitfalls for unprepared applicants.

Short-term rental restrictions

Using a Golden Visa property for short-term or holiday rentals is restricted under current rules. Violations can result in residence permit cancellation and administrative fines of up to €50,000. The intended rental strategy should be evaluated against current compliance rules before the property is selected, not after.

Biometrics requirement demands in-person presence in Greece

The Greece Golden Visa requires applicants and included family members to attend in-person biometric submission in Greece. For applicants from countries where obtaining a Greek entry visa is itself logistically challenging, or for those managing large family applications, this is a practical bottleneck. Pre-planning the biometrics stage — including necessary travel documentation and visa logistics — as a fixed point in the project timeline reduces disruption.

Investment must be made from personal funds; financing is not accepted

The investment requirement must be met with personal funds; mortgage-backed purchases do not qualify. Funds must be traceable, and payments must originate from the applicant's personal accounts. 

For applicants from jurisdictions with currency controls or restrictions on international transfers, moving funds to Greece in a compliant and timely manner can become a material obstacle. Confirming funding structure, account type, and transfer feasibility before selecting a property prevents late-stage execution failures.

Residency under this program does not grant the right to work

The Greece Golden Visa is an investor residency permit, not an employment or self-employment authorisation. Applicants with plans that include any form of professional activity in Greece should clarify the applicable work authorisation requirements separately from the investment residency process.

Path to Greek citizenship requires physical presence over the years

The Greece Golden Visa allows investors to maintain residency without living in the country. However, those who plan to apply for citizenship typically need to spend at least 7 years living in Greece. It is important to consider these requirements before investing.

1. The Greece Golden Visa has undergone substantial changes in recent years; the financial threshold increased, and the real estate option was divided into three options.
2. Investors who wish to purchase a property in large cities and islands with a population of over 3,100 inhabitants must pay at least €800,000. For other cities and regions, the threshold is €400,000. For buildings bought for conversion or restoration, the minimum requirement is €250,000.
3. The program carries no minimum stay requirement for renewal, making it a practical plan B residency for non-EU nationals who want Schengen access without relocating. Citizenship, however, requires at least 7 years of actual physical residence in Greece.
4. Two preferential tax regimes — the non-dom lump-sum at €100,000 per year and the pensioner flat rate at 7% — are available to investors who choose to transfer their tax residence to Greece.
5. The new Greece Golden Visa rules impose a strict short-term rental prohibition on properties.