Golden Visa Greece: A Practical Guide for Villa Buyers

What the Golden Visa is

“Golden Visa” is the everyday name for the permanent residence permit for investors in real estate, set out in article 100 of Greece’s Migration Code (Law 5038/2023) and known officially as a type “B.5” permit. It is granted for five years and can be renewed for the same period each time, as long as you still own the property.

For villa buyers, three features matter most. First, the law states that periods of absence from Greece do not prevent renewal, so the permit suits people who will use their home seasonally. Second, the permit does not give a right to work in Greece, either as an employee or self-employed, although the Ministry of Migration and Asylum confirms that holders can be shareholders in a company. Third, it covers close family members under the same investment, which we look at below.

The rules were last reshaped by article 64 of Law 5100/2024, in force from 5 April 2024. On 21 April 2026 the ministry issued Circular 1/2026, a detailed set of clarifications on how article 100 is applied. It did not change the investment amounts, but it is the most recent official guidance and is referred to throughout this guide. Applications from Russian and Belarusian nationals remain suspended.

Investment thresholds by area

The minimum purchase price depends on where the property is. The higher band covers the Attica region (Athens and its coast), the regional unit of Thessaloniki, the regional units of Mykonos and Thira (Santorini), and every island with more than 3,100 inhabitants according to the latest census. Everywhere else, the minimum is €400,000. Before the 2024 reform the figures were €500,000 and €250,000.

Source: Ministry of Migration and Asylum, Circular 1/2026 (2026); Law 5038/2023, article 100, as amended by Law 5100/2024.

For the two Greek islands where our villas are, the answer is the same. Mykonos is named in the law, and Crete, with a population of 624,408 at the 2021 census, sits well above the 3,100 threshold, so a villa near Chania also falls in the €800,000 band. If you are still deciding between the two, our comparison of Mykonos or Chania for a luxury villa sets out how the islands differ in pace, access and setting, and our guide to where to stay in Mykonos walks through the island area by area.

The current amounts apply to purchases made from 1 September 2024. The transitional windows that let some buyers complete at the old prices closed on 28 February 2025 for the property originally reserved and, where a different property was bought instead, 30 April 2025, so they are no longer relevant to a new purchase.

Which properties qualify

Since 2024 every route is limited to a single property. You cannot combine two apartments, or a villa and a separate guest house, to reach the threshold. The 2026 circular adds useful detail on what counts as “one property”.

The property can be owned personally or through a company based in Greece or another EU country, provided you hold all of its shares. Married couples and registered partners can meet one threshold together. Other co-owners each need a share worth the full threshold, and the 2026 circular confirms that the 120 m² applies to the property as a whole, not to each share.

In practice, this means a Golden Visa villa should be bought as a home for your own family, not as a holiday-let investment. If rental income matters to you, take specific legal advice before choosing this route.

Step-by-step process

The sequence below draws on the official procedure and the ministry’s guidance. Timings vary with the property and the paperwork, so treat it as an order of work rather than a timetable.

1. Confirm the band and the property

   Check which band the location falls in and that the home meets the one-property and 120 m² rules. A Greek lawyer should review title and planning status before you commit. If you are viewing villas on Mykonos or around Chania, our team can arrange a private driver for viewing days.

2. Obtain a Greek tax number

   You will need a Greek tax registration number (AFM), which you can request online from the Greek tax authority (AADE) through gov.gr. The application later asks for a copy of your E9 real estate declaration, a tax filing.

3. Sign and pay in full

   The price must be paid in full before you apply, by crossed bank cheque, credit transfer or card via POS, into the seller’s payment account held with a provider operating in Greece. A spouse or relative up to the second degree may make the payment. The notary issues a certificate confirming the transaction.

4. Register the purchase

   The deed is registered with the Land Registry or Cadastre. For the first application, proof that registration has been requested is accepted, with final proof due by renewal.

5. Arrange health insurance

   You need health insurance that covers you in Greece: a private Greek policy, or a policy from abroad that explicitly includes cover in Greece.

6. Apply online

   Applications go through the Ministry of Migration and Asylum’s e-services, either by you while in Greece or by a lawyer holding your power of attorney. The fee is €2,000, plus €16 for the residence card.

7. Biometrics and decision

   Your biometric data are collected and the file is examined by the competent one-stop service. By law the permit is issued within two months of the file being complete.

Family members and renewals

One investment can bring the family with it. Under the Migration Code and the ministry’s 2026 guidance, family residence permits can be granted to:

Renewal is for another five years, provided you still own the property and meet the other conditions. The ministry accepts a recent E9 or Cadastre extract as proof of ownership. On the €800,000 and €400,000 routes, if you sell to another non-EU buyer, the right to a permit passes to them and your own permit is revoked. To switch homes, the circular sets the order: buy the new qualifying property first, notify the authority, then sell the original.

While you settle in, many buyers prefer a rented villa over a hotel. Browse our Mykonos villas and Chania villas, or ask about homes on our private list, which owners list only with us.

Common mistakes

Most problems come from out-of-date information. The 2026 circular itself warns about misleading advertising on prices, payment methods and the rental ban.

• Relying on old figures. Offers built around €250,000 for a standard home or €500,000 in Athens reflect rules that no longer apply to new purchases.
• Assuming Crete is in the lower band. Crete’s population puts it in the €800,000 band, just like Mykonos.
• Splitting the budget. Two smaller homes no longer qualify, whatever their combined value.
• Counting the garage. Parking and storage bought in the same deed and building can add to the price, but never to the 120 m².
• Paying the wrong way. Cash, or any method outside the permitted list, does not meet the payment rules.
• Planning holiday lets. Short-term letting risks revocation and a €50,000 fine.
• Selling a listed building early. A transfer before restoration is complete is void and attracts a €150,000 fine.

This guide is general information, not legal advice. Rules and their interpretation change, so confirm every point with a Greek lawyer before you sign. For a private conversation about villas on Mykonos or around Chania, contact our team.