In 2026, the Golden Visa program in Greece is no longer the simple and uniform route that investors knew in the past. Greece has tightened the conditions, increased the investment thresholds in some real estate tracks, and restricted certain uses of properties. As a result, each transaction requires a careful review of the type of property, its location, and the applicable track.
Alongside the stricter conditions, the program still allows foreign investors to obtain a residence permit in exchange for an investment that meets the legal requirements. Most applications continue to be based on the purchase of real estate, but additional investment routes are also available. The permit is granted for five years and may be renewed, as long as the investment is maintained and the investor meets the program conditions. The changes are intended, among other things, to address pressure in the local housing market, reduce speculative use of properties, and direct investments to areas and types of properties that the state seeks to encourage.
Anyone considering an investment in Greece should review the current conditions already at the property search stage. The uniform investment threshold of EUR 250,000, which was familiar in the past, no longer applies to every transaction. Before signing, it is advisable to review the property’s location, the required investment amount, the permitted use of the property, transaction costs, and the tax implications in Israel and Greece.
What Is the Golden Visa in Greece?
The Golden Visa in Greece is a residence route for foreign investors who meet the investment conditions prescribed by law. In most cases, this involves purchasing real estate. After the application is approved, the investor receives a residence permit for five years. The permit may be renewed without limitation, as long as the investment is maintained and the program conditions are met. The permit allows lawful stay in Greece and travel within the Schengen Area, subject to the entry and stay rules of each country. It does not grant citizenship, a Greek passport, voting rights, or necessarily the right to work as an employee in Greece. Anyone interested in citizenship in the future will need to meet separate conditions, including actual residence in Greece for the period prescribed by law.
Close family members may also be included in the application: a spouse, children up to age 21, and the parents of the investor and of the spouse. All of this is subject to the program conditions and the documents required at the time of submission. For renewal of the residence permit, there is generally no requirement to stay in Greece for a minimum number of days. It is therefore possible to continue living in Israel and maintain the status, provided that the investment is maintained and the conditions of the relevant track are met.
Investment Thresholds Under the Golden Visa and Additional Requirements
The changes to the Golden Visa program in Greece created different investment thresholds based on the area of the property and the type of transaction. The threshold amounts below relate to the investment in the property itself and do not include purchase tax, fees, professional fees, or additional costs. The conditions may change, so it is advisable to verify the applicable track before committing to a purchase.
In high-demand areas, including the Attica Region, Thessaloniki, Mykonos, Santorini, and certain islands with more than 3,100 residents, the investment threshold is EUR 800,000. Under this track, the investment must generally be made in a single property with an area of at least 120 square meters.
In the remaining areas of Greece, the minimum investment threshold is EUR 400,000. Here too, the purchase of a single property with an area of at least 120 square meters is generally required.
Under special tracks, the investment threshold may be EUR 250,000. These may include converting a commercial property into residential use or restoring buildings of historical value or preserved properties, subject to specific conditions. Despite the lower entry threshold, these transactions are often more complex from planning, legal, and economic perspectives.
In addition to the investment threshold, an investor must also take into account restrictions on the use of the property and the obligation to maintain the investment throughout the residence period:
- Rental restrictions: A property purchased under the Golden Visa is generally not intended for short-term rental through tourism platforms. A breach of this restriction may result in a fine, which according to professional publications may reach EUR 50,000, and may also affect the residence permit. Anyone planning to generate rental income should base the plan on long-term rental and review the law applicable to the property and the track.
- Maintaining the investment: Renewal of the residence permit is generally conditional on continued holding of the investment and compliance with the program conditions. Selling the property or making a material change to the investment may affect the ability to renew the status.
- Use of the property: Before purchasing the property, it is advisable to review its planning designation and the permitted uses. Not every property is suitable for residential use, rental, business activity, or registration as a company address.
A breach of the program conditions or the restrictions on use of the property may lead to fines, delays in renewing the residence permit, or harm to eligibility for the status. The property review should include its legal, planning, and regulatory status, and not only its price and location.
How Long Does It Take to Obtain a Golden Visa in Greece?
The process includes purchasing a property, conducting legal checks, making banking arrangements, and submitting an application to the immigration authority.
The duration of the process depends on the type of investment, the condition of the property, the completeness of the documents, source-of-funds checks, and the workload of the immigration authorities. As of 2026, a properly prepared application may progress within approximately 4 to 6 months. In complex cases, or where documents are missing, the process may take longer.
Advance preparation directly affects the timeline. It is usually necessary to arrange a Greek tax number, prepare identification and civil status documents, present documents regarding the source of funds, and translate and authenticate documents as required. At the same time, the lawyer reviews the rights in the property and its planning status.
The five-year residence period generally begins on the date the residence card is issued, and not on the date the application is submitted. The waiting period for processing the application should not shorten the validity of the permit after it is issued.
Stages of the Process
- Locating a property and reserving the transaction;
- Arranging the bureaucratic and banking aspects;
- Conducting due diligence and preparing the transaction documents;
- Signing the sale agreement, paying taxes, and registering the rights;
- Submitting the residence application;
- Providing biometric data and receiving the card.
Purchase Costs and Real Estate Taxation in Greece
The investment threshold for the Golden Visa in Greece does not include transaction costs. In addition to the property price, one should take into account purchase tax, legal and notary fees, registration costs, engineering and planning checks, brokerage fees, translations, apostille, banking costs, powers of attorney, and residence application fees. According to commonly accepted figures, purchase tax may be 3.09% of the value for tax purposes. The rate and calculation basis should be verified at the time of the transaction.
The costs vary according to the type of property, its location, its legal status, and the transaction structure. For new properties, it is also advisable to check the application of value-added tax (VAT) and the arrangements that apply at the time of purchase. The budget should include the cost of purchase and holding, and not only the property price or the investment threshold.
After the purchase, annual property tax, tax on rental income, and capital gains tax on sale may apply. All of these affect the net return on the investment.
An Israeli resident should review the transaction under the tax laws of both Greece and Israel. The tax treaty between the countries may help reduce double taxation and allow a tax credit, but it does not necessarily eliminate reporting obligations or tax liability in Israel. The method of financing, the identity of the purchaser, and the use of the property may also affect the tax outcome.
Is Real Estate Investment in Greece Suitable for Israelis?
Greece may be suitable for Israelis who wish to combine a real estate investment in Europe with the possibility of residence. Its proximity to Israel, frequent flights, and the ability to visit the property relatively easily may make it easier to manage the investment and use the property for family or business purposes.
Real estate prices in Greece vary between cities, neighborhoods, and high-demand areas. In 2026, some areas recorded an increase of approximately 3% to 8% in the price per square meter compared with 2025, and Athens reported an annual increase of approximately 7.6%. Prices may still be lower than in some of the more expensive markets in England and France, but general market data does not guarantee a return or profit.
The tax treaty between Israel and Greece may help reduce double taxation and allow a tax credit, depending on the circumstances of the case. It does not grant a blanket exemption and does not replace an examination of the reporting obligations and possible tax liability in each country.
The question is not only whether the property meets the conditions of the Greece Golden Visa. It is also necessary to examine whether the property is a sound real estate investment even without the residence component. It is advisable to review the net return, purchase and maintenance costs, rental restrictions, financing options, and taxation.
Additional Investment Routes
Alongside the real estate route, there are routes involving investment in funds, Greek companies, bonds, and deposits. The threshold amounts may be EUR 350,000 or EUR 500,000, depending on the type of investment. Each route has its own conditions, holding period, and tax implications.
As of 2025, there is also a residence route for investors in start-up companies registered in Greece’s national register, Elevate Greece. An investment of EUR 250,000 in an eligible company may entitle the investor and family members to a B.6 residence permit, which is generally renewed every two years and is subject to the conditions of the route. This is a business investment, not a real estate purchase. It is therefore necessary to examine the company, the investor’s rights, and the tax implications in Israel and Greece.
Summary Table
Investment Route | Minimum Investment Threshold | Where or in Which Property | Main Conditions |
Real estate investment in high-demand areas | EUR 800,000 | Attica Region, Thessaloniki, Mykonos, Santorini, and certain islands with more than 3,100 residents | Purchase of one property with an area of at least 120 square meters |
Real estate investment in other areas of Greece | EUR 400,000 | Areas not included in the high-demand areas track | Purchase of one property with an area of at least 120 square meters |
Real estate investment under a conversion or preservation track | EUR 250,000 | A commercial property converted into residential use or a preserved building | Compliance with specific conditions and completion of the required works |
Other non-real estate investment routes | Varies by route | Funds, Greek companies, bonds, or deposits | Threshold conditions, holding period, and tax implications according to the investment route |
Investment in a start-up | EUR 250,000 | A company registered in Greece’s national start-up register | Subject to the conditions of the route, review of the company, and the requirements applicable at the time of investment |
Nimrod Yaron & Co. specializes in Israeli and international taxation. Our team includes professionals with experience at the Israel Tax Authority, leading firms, and law firms. We advise private and public companies, Israeli and foreign companies, venture capital funds, and private clients seeking focused and clear advice. In cross-border matters, we also work with a network of accounting firms and law firms around the world.
Considering a real estate investment in Greece or a Golden Visa route? Before moving forward, it is advisable to review the program conditions, the investment structure, the transaction costs, and the tax implications in Israel and Greece.
Frequently Asked Questions
Is it necessary to live in Greece in order to renew the Golden Visa?
As a rule, no. There is no minimum requirement for actual stay in Greece in order to renew the residence permit, as long as the investment is maintained and the other program conditions are met.
Who can be included in the Golden Visa application?
As a rule, the spouse, children up to age 21, and the parents of the investor and of the spouse may be included. Children born after the application is submitted may be added later, subject to the required conditions and documents.
Does the investment amount include taxes and transaction costs?
No. The threshold amount refers to the qualifying investment in the property, before purchase tax, fees, registration, professional fees, and other related costs.
How long does the process of obtaining a Golden Visa in Greece usually take?
The duration of the process depends on the type of investment, the condition of the property, the preparation of the documents, and the workload of the authorities. In many cases, the process takes approximately 8 to 12 months.
Does the Golden Visa grant citizenship or a Greek passport?
No. The Golden Visa grants a residence permit, not citizenship. The possibility of applying for citizenship may arise only after actual residence in Greece and compliance with additional conditions prescribed by law.
Can the property be sold after obtaining the Golden Visa?
Selling the property may affect renewal of the residence status, because the qualifying investment generally must be maintained throughout the permit period.
Is it permitted to rent out a property purchased under the Golden Visa?
The ability to rent out the property depends on the investment route, the property’s location, and the current provisions applicable to short-term rentals.
