Investing in Greece with Legal Certainty
The Greek Golden Visa programme continues to rank among Europe’s most attractive residence-by-investment schemes, offering non-EU nationals the opportunity to obtain a renewable residence permit through qualifying real estate investments.
Following the latest legislative reforms, however, investors must navigate substantially different investment thresholds, stricter eligibility requirements and new restrictions concerning the use of acquired properties.
For this reason, selecting the right investment is no longer simply a commercial decision—it is a legal one.
At Makris & Partners, we assist international investors throughout every stage of their investment, ensuring that each acquisition fully complies with the applicable Golden Visa legislation while protecting the investor’s commercial interests.
At a Glance
|
Investment Category |
Minimum Investment |
Property Requirements |
Eligible Areas |
|
Standard Investment – Prime Areas |
€800,000 |
One property – minimum 120 m² |
Attica, Thessaloniki, Mykonos, Santorini & islands with population above 3,100 |
|
Standard Investment – Rest of Greece |
€400,000 |
One property – minimum 120 m² |
All other regions |
|
Special Investment Category |
€250,000 |
Conversion or restoration projects |
Change of use / Industrial conversions / Listed buildings |
Key takeaway
Choosing the wrong property may render an investor ineligible for a Golden Visa, irrespective of the purchase price.
- Standard Investments
€800,000 Investment Threshold
The highest investment threshold applies to Greece’s most sought-after real estate markets:
- Attica
- Thessaloniki
- Mykonos
- Santorini
- Islands with more than 3,100 permanent residents
The investment must concern one single property.
Where the investment relates to an existing building or a property with an issued building permit, the property must comprise at least 120 sq.m. of principal areas.
The same threshold also applies to long-term tourist accommodation agreements and timeshare investments.
€400,000 Investment Threshold
For all remaining regions of Greece, the qualifying investment is reduced to €400,000, subject to the same minimum surface requirement of 120 sq.m.
This category has significantly increased investor interest in emerging destinations offering attractive yields at lower entry costs.
- Special Investment Category (€250,000)
Perhaps the most attractive option under the current legislation concerns investments of €250,000.
This applies to:
✔ Properties converted from commercial to residential use
✔ Former industrial buildings converted into residential developments
✔ Listed (heritage) buildings undergoing restoration
These investments combine:
- lower capital requirements;
- strong capital appreciation potential;
- urban regeneration opportunities; and
- Golden Visa eligibility.
Practical Note
Conversion projects require careful legal and technical due diligence.
Planning permits, change-of-use approvals and completion deadlines are all critical to the successful issuance of the residence permit.
- Restrictions Every Investor Should Know
The revised legislation introduces several important limitations.
Properties acquired through the Golden Visa programme:
❌ cannot be used for Airbnb or other short-term rentals;
❌ cannot be subleased;
❌ industrial conversion projects cannot subsequently operate as business premises.
Understanding these restrictions before acquisition is essential.
Why Legal Due Diligence Matters
A Golden Visa investment is not simply a real estate transaction.
It combines:
- Property Law
- Immigration Law
- Tax Law
- Planning Law
- Contract Law
- Regulatory Compliance
A comprehensive legal due diligence should therefore verify:
✓ ownership
✓ title history
✓ encumbrances
✓ urban planning compliance
✓ Golden Visa eligibility
✓ tax implications
✓ contractual risks
Makris & Partners – Your One-Stop Legal Partner for Investing in Greece
International investors frequently require far more than legal advice.
They need a trusted advisor capable of coordinating every aspect of the investment.
For this reason, Makris & Partners provides an integrated, one-stop service covering both the legal and practical aspects of investing in Greece.
Our Services
Golden Visa Advisory
- Strategic investment planning
- Golden Visa eligibility assessment
- Residence permit applications
- Family member applications
- Residence permit renewals
Real Estate
- Property legal due diligence
- Contract drafting and negotiation
- Representation before notaries
- Closing coordination
- Registration before the Hellenic Cadastre
Tax & Banking
- Greek Tax Identification Number (AFM)
- Tax Representative services
- Tax registration
- Opening personal and corporate bank accounts
- Coordination with accountants and tax advisers
Corporate & Business Support
- Company formation
- Holding structures
- Investment vehicles
- Ongoing legal counsel
Why International Investors Choose Makris & Partners
✔ Boutique attention with international standards
✔ Fluent communication in English
✔ Extensive experience in cross-border transactions
✔ Strong network of notaries, engineers, accountants and banks
✔ End-to-end project management
✔ One point of contact throughout the investment process
Frequently Asked Questions
Can I buy more than one property?
Generally, investments under the €400,000 and €800,000 thresholds must concern a single property. Specific exceptions should always be assessed on a case-by-case basis.
Can I rent my property through Airbnb?
No. Properties acquired under the Golden Visa programme cannot be used for short-term rentals.
Can my family obtain residence permits?
Yes. Eligible family members may obtain residence permits under the applicable provisions of the Golden Visa legislation.
Do I need a Greek tax number?
Yes.
A Greek Tax Identification Number (AFM) is required before purchasing real estate in Greece.
Can you open my Greek bank account?
Yes.
We coordinate the entire process with major Greek financial institutions and assist clients with all documentation and compliance requirements.
Do I need to travel to Greece?
In many cases, a significant part of the process can be completed through a duly executed Power of Attorney, substantially reducing the need for repeated travel.
Conclusion
Investing in Greece presents exceptional opportunities, provided that each investment is structured correctly from the outset.
Choosing experienced legal advisers is often the difference between a straightforward acquisition and costly legal complications.
At Makris & Partners, we combine legal expertise, commercial awareness and personalised service to guide international investors safely through every stage of their investment journey.
Antonia Ploumisti Griva – Attorney at Law
ploumisti@makrispartners.com
