Greece Golden Visa 2026: Zone-by-Zone Property Guide — What the 120m² Rule and Rental Ban Mean for Investors

What Is the Greece Golden Visa Programme?

The Greece Golden Visa is a five-year renewable residence permit granted to non-EU/EEA nationals who make a qualifying real estate or business investment in Greece. A single investment covers three generations of family — the investor, their spouse or registered partner, children up to 21 years old (extendable to 24), and the parents of both spouses — with no additional investment required. There is no minimum stay requirement, making it ideal for HNWIs who want Schengen access without relocating.

The programme was established in 2013 under Law 4251/2014, subsequently amended by Law 5007/2022 and Ministerial Decision 214926/2025, which introduced the current zone-based threshold structure. As of December 2025, Greece has issued 27,786 valid Golden Visa permits, with 8,879 approvals granted in 2025 alone — a 95% year-on-year increase. The official programme authority is the Greek Ministry of Migration and Asylum.

With Spain’s Golden Visa closed since April 2025, Greece has emerged as the leading Mediterranean real-estate-backed residency programme. Planning to apply? Book a free consultation with Mirabello Consultancy — Zurich and Dubai-based, 99% approval rate, IMC member, 600+ investment migration cases handled.

What Are the Three Investment Zones and Their Minimum Thresholds?

Greece operates three investment tiers based on geography and property type. Zone A — covering the Attica region (Greater Athens), Thessaloniki municipality, Mykonos, and Santorini — requires a minimum investment of €800,000. Zone B covers all other Greek regions at €400,000. A third tier for commercial-to-residential conversions and heritage building restorations, plus the new startup investment route (announced November 2025), starts at €250,000. All thresholds must be met through a single property title or qualifying entity.

The zone structure was introduced on 1 September 2024 to redirect investment away from saturated prime-market areas. Here is the full breakdown:

Zone B value proposition: Crete, Rhodes, Corfu, and mainland coastal areas offer premium lifestyle assets at the €400,000 tier — effectively half the Athens Zone A cost. The wider Thessaloniki region (outside the municipality boundary) qualifies under Zone B, giving investors urban connectivity with Zone B pricing. Athens’s southern suburbs and Glyfada sit firmly in Zone A; buyers targeting those micro-markets should budget €800,000 minimum.

Explore all current European and global residency-by-investment options on our Golden Visa Programmes hub.

What Is the 120m² Minimum Rule — and Which Properties Does It Apply To?

New-build residential properties purchased for the Greece Golden Visa must have a minimum living area of 120 square metres. This requirement — confirmed by Ministerial Decision 214926/2025 — applies to properties for which building permits were issued from the applicable regulatory cut-off date. Existing resale properties — those already built and registered in the Land Registry before the rule change — are not subject to the 120m² floor. A resale apartment of any size can qualify, provided it meets the zone investment threshold in a single property title.

This is among the most misunderstood rules in the current programme. Here is a clear breakdown:

• New builds (post-cut-off building permits): Must meet the 120m² minimum living area. Developers selling studios or one-bedroom units as “Golden Visa-eligible” properties under new permits should be treated with caution — verify the building permit date and the stated living area (not the gross area, which includes communal space) before signing any preliminary contract.
• Resale / existing completed properties: No 120m² requirement. A registered resale apartment in Athens’s Kolonaki of 75m² at €850,000 qualifies for Zone A without any size restriction, provided all other GV eligibility criteria are met.
• Commercial conversion properties: The €250,000 conversion route involves converting a commercial space into a residential unit. The resulting residential unit should be habitable and comply with Greek building regulations. Seek specific legal advice on the size criteria applicable to your conversion project.
• Off-plan purchases: Where a developer is selling an off-plan property under an existing building permit, the permit date determines whether the 120m² rule applies. A permit issued before the regulatory change date does not require 120m²; one issued after does.

The 120m² requirement was introduced specifically to close the market of micro-apartments — particularly in Athens — that were being subdivided and marketed as Golden Visa qualifying assets below the true spirit of the programme threshold. Mirabello’s property sourcing process includes full building permit verification and legal due diligence on every asset presented to our clients.

Unsure whether a property you’ve found qualifies? Speak with a Mirabello Greece specialist before you commit to any preliminary agreement.

What Does the Short-Term Rental Ban Mean for Golden Visa Property Owners?

Properties purchased under the Greece Golden Visa programme cannot be used for short-term rentals — including platforms such as Airbnb, VRBO, and Booking.com — during the five-year holding period. This applies to Zone A, Zone B, and commercial conversion properties. Long-term residential tenancy — leases of 12 months or more to a single tenant — remains fully permitted and does not affect your Golden Visa status. Personal use by the investor and family is unrestricted.

Understanding the rental ban in practical terms:

• Short-term rental income is unavailable from your GV property. If your financial model relies on Airbnb revenue, you will need a separate, non-GV property for that purpose. Combining GV compliance with a tourist rental business is not permissible under the current programme rules.
• Long-term tenancy income is fully lawful. Investors in Athens, Thessaloniki, Heraklion, and Rhodes typically achieve gross long-term rental yields of 4–6% per annum on qualifying GV properties. A €400,000 Zone B property generating €20,000–24,000 per year in long-term rent is a realistic outcome.
• Personal use is unlimited. You and your family may occupy the property for any number of nights per year without restriction. There is no prohibition on personal use — only on commercial short-term letting.
• Compliance and enforcement. The Greek Independent Authority for Public Revenue (AADE) monitors short-term rental registrations. Operating an unregistered short-term rental through a GV property carries tax penalties and potential impact on your permit renewal.
• After the five-year holding period. Once the Golden Visa permit is established and renewed, investors have more flexibility about what to do with the asset. Mirabello recommends seeking specific legal guidance on your situation before making any change to the rental arrangement.

For investors who want to combine Greek lifestyle with a rental income strategy, the most compliant structure is a long-term lease arrangement managed by a Greek property management firm. Mirabello can refer clients to vetted property management partners in Athens, Thessaloniki, and Crete.

Who Is Eligible for the Greece Golden Visa in 2026?

Any non-EU/EEA/Swiss national aged 18 or over is eligible for the Greece Golden Visa, provided they make a qualifying investment and have no serious criminal record. There is no language test, no interview, no minimum income requirement, and no education qualification needed. A clean criminal record from the country of nationality and country of residence is required, along with mandatory private health insurance. The programme is open to all nationalities not subject to EU sanctions restrictions.

Family eligibility is one of the programme’s strongest selling points:

• Spouse or registered partner (including same-sex partners since February 2024)
• Unmarried children under 21 years old, extendable annually to age 24
• Parents of both the main applicant and spouse — no age restriction, no financial dependency test

Three generations of one family can hold Greek residency from a single €400,000 or €800,000 investment. No additional investment is required for any dependant.

The top nationalities applying for the Greece Golden Visa in 2025 were Chinese (47.9% of applications), Turkish, Israeli, and American — the last representing a fast-growing segment driven by Schengen access demand from US citizens experiencing European travel delays on standard tourist visas.

How Long Does Greece Golden Visa Processing Take in 2026?

Processing for new Greece Golden Visa applications in 2026 takes approximately 3–9 months from the submission of a complete application file. This is a substantial improvement from the 12–18 month backlogs experienced in 2023–2024. Greece launched a digital modernisation of its GV processing system in 2025, significantly improving throughput. Applicants attend one biometric appointment in Greece at the start of the process, then may remain abroad while the Ministry reviews the file.

Indicative timeline by stage:

• Property selection and due diligence: 2–4 weeks
• Property purchase (from preliminary contract to registered transfer deed): 4–8 weeks
• Application submission: Immediately after Land Registry registration of the transfer deed
• Biometric appointment: Typically within 1–3 months of submission, at the Ministry in Athens or selected Greek consulates abroad
• Permit card issuance: 3–9 months from the biometric appointment
• Renewal: Every five years; the digitalised system now processes renewals significantly faster than first-issuance applications

Government fees are €2,000 for the main applicant, €150 per dependent, plus a €16 biometric card fee per person. Property transaction costs — notary, licensed lawyer, Land Registry fees, and the 3.09% property transfer tax — typically add 8–12% to the purchase price and must be budgeted in advance of signing any contract. Mirabello Consultancy provides a full cost breakdown at the initial consultation stage — learn more about our team and approach.

For a detailed comparison of the Greece Golden Visa against the Cyprus Permanent Residency by Investment programme, our advisers can walk you through both options in a free discovery call.

What Key Benefits Does the Greece Golden Visa Provide?

The Greece Golden Visa delivers a five-year renewable residence permit, Schengen Area visa-free travel across 27 European countries, and a long-term path to Greek citizenship after seven years of actual residence. The zero minimum stay requirement allows investors to maintain Schengen access without relocating, and the whole family — including both sets of parents — is covered under one investment. Greece’s International Migration Council-recognised programme stands as one of the most established in Europe, with 27,786 valid permits demonstrating its scale and governmental longevity.

Key benefits in detail:

• Schengen access: Visa-free travel, business meetings, and leisure stays across 27 EU member states without a separate Schengen visa
• Zero minimum stay: Hold your Greek residence permit without spending any set number of days in Greece — the permit renews as long as the qualifying investment is maintained
• Full family coverage: Spouse, children under 21, and parents of both spouses on one investment with no additional cost
• Property ownership: Unlike donation-based citizenship programmes, you retain full ownership of Greek real estate with long-term capital appreciation potential
• Path to Greek citizenship: After seven years of actual residence in Greece (physical presence, not mere permit holding), investors may apply for naturalisation and an EU passport — with it, full EU freedom of movement and the right to live and work in any of the 27 member states
• Greek non-dom tax regime: Separately from the GV, investors who elect Greek tax residency may benefit from the €100,000 flat-tax non-dom option for foreign-sourced income for up to 15 years — making Greece attractive as a genuine relocation destination for HNWIs [VERIFY with a Greek tax adviser for your specific situation]
• Education and healthcare: Access to the Greek public and private education system and state healthcare with the permit

How Does Greece Compare to Portugal, Cyprus, and Malta Golden Visa Programmes?

Greece’s combination of zero minimum stay, genuine property ownership, and a long-term EU citizenship pathway places it ahead of several European peers. Portugal’s naturalisation timeline has been extended to 10 years under Lei Orgânica 1/2026. Spain’s Golden Visa closed in April 2025. Cyprus offers permanent residency from €300,000 but is not an EU Schengen member. Malta’s MPRP requires a non-refundable contribution rather than a retained asset. Here is a side-by-side comparison:

For investors who prioritise Schengen access, zero minimum stay, and genuine real estate ownership with a realistic EU citizenship path, Greece is the strongest current European option. The full Mirabello Greece Golden Visa programme page provides additional detail on investment structuring, legal requirements, and the application process.

What Do Investors Most Often Ask About Greece's Golden Visa Property Rules?

Does the 120m² minimum rule apply to resale properties?

No. The 120-square-metre minimum living area applies exclusively to new-build residential properties — those constructed under building permits issued from the applicable regulatory cut-off date. Existing resale properties that are already built and registered in the Land Registry have no minimum size requirement. A resale apartment of any size qualifies for the Golden Visa, provided it meets the zone investment threshold (€400,000 or €800,000) in a single property title.

Can I list my Greece Golden Visa property on Airbnb?

No. Properties purchased as part of the Greece Golden Visa application cannot be used for short-term rentals — including Airbnb, VRBO, Booking.com, or any equivalent short-let platform — during the five-year holding period. Long-term residential tenancy (12-month or longer leases to a single occupant) is fully permitted. Personal use by the investor and family is unrestricted. Violations of the short-term rental ban carry tax penalties and potential permit compliance risk.

Which areas fall under Zone A, requiring €800,000?

Zone A covers the entire Attica region (Athens city, Piraeus, and all northern and southern Attic suburbs), the municipality of Thessaloniki (not the wider metropolitan region), the island of Mykonos, and the island of Santorini. All other areas of Greece — including Crete, Rhodes, Corfu, Zakynthos, the wider Thessaloniki metro area outside the municipality, and all mainland regions outside Attica — fall under Zone B at €400,000.

Can the parents of my spouse also be included on my Golden Visa?

Yes. The Greece Golden Visa programme allows both the parents of the main applicant and the parents of the applicant’s spouse to be included as dependants on a single investment. There is no age restriction on parents, no financial dependency test, and no additional investment requirement. This three-generation family coverage — spouse, children under 21, and both sets of parents — is one of the programme’s most distinctive features.

Is the Greece Golden Visa at risk of closure in 2026?

No current legislation proposes closing or suspending the Greece Golden Visa programme. The threshold changes introduced in September 2024 — the zone split and €800,000 Zone A minimum — represent the most significant adjustment in recent years. The programme has strong government support: 8,879 approvals were issued in 2025 alone, a 95% year-on-year increase. Mirabello monitors regulatory developments actively and briefs clients in advance of any material change.

How Do I Start with Mirabello Consultancy?

Book a free, no-obligation consultation with our Greece Golden Visa team. Mirabello Consultancy is based in Zurich and Dubai, holds IMC membership and ACAMS certification, and has delivered a 99% approval rate across 600+ investment migration cases worldwide. Our Greece team sources qualifying properties, conducts full legal due diligence through licensed Greek lawyers, files the complete application with the Ministry of Migration, and guides you to permit issuance. Schedule your free consultation here.