Greece has warned Golden Visa investors that concealed property rebates and prohibited short-term rentals could cost them their residence permits, as authorities step up enforcement of the program’s existing rules.
Speaking at the Prodexpo 2026 real estate conference in Athens on October 15, Migration and Asylum Minister Thanos Plevris said investors who use financial arrangements to bypass minimum investment requirements or circumvent rental restrictions risk having their permits revoked.
Hidden Property Rebates Under Scrutiny
One concern involves property transactions in which investors appear to meet the minimum investment threshold but receive part of their purchase price back through separate agreements.
Plevris cited an example of an investor purchasing a property for €250,000 while receiving a guaranteed €100,000 refund through a rental arrangement.
Although the declared purchase price is €250,000, the investor effectively contributes only €150,000.
The minister warned that Golden Visa residence permits obtained through such arrangements would be revoked.
The warning reinforces the importance of ensuring that the actual qualifying investment meets the applicable legal threshold, rather than relying solely on the declared purchase price.
Short-Term Rental Violations Can Also Lead to Revocation
Greece’s Golden Visa regulations restrict the use of qualifying properties for short-term rentals.
Under Article 100 of the Migration Code, as amended by Law 5100/2024, violations of the applicable short-term rental prohibition can result in:
- Revocation or non-renewal of the investor’s residence permit.
- An administrative fine of €50,000 for the property’s owners or holders.
Circular 1/2026, issued in April, further clarified the application of these restrictions, including the treatment of short-term leases and subleases.
The restrictions also cover prohibited arrangements involving property managers or intermediaries who sublease qualifying properties for short stays.
However, compliant long-term residential rentals remain permitted. Certain properties acquired under earlier rules or qualifying transitional provisions are also exempt from the short-term rental prohibition.
Greece’s Current Golden Visa Investment Thresholds
Following the reforms introduced in 2024, Greece applies three principal real estate investment thresholds:
- €800,000: Attica, Thessaloniki, Mykonos, Santorini, and islands with populations exceeding 3,100.
- €400,000: Other eligible regions of Greece.
- €250,000: Qualifying property conversions to residential use and restoration of listed buildings.
The standard €400,000 and €800,000 property routes generally require a single property of at least 120 square meters.
The €250,000 threshold applies only to specific qualifying categories rather than ordinary residential property purchases.
Government Focuses on Housing Supply
Plevris also emphasized the government’s intention to direct Golden Visa investment toward projects that contribute to Greece’s housing supply.
Converting commercial properties into residential units remains a priority, with qualifying projects eligible for the €250,000 investment threshold.
The minister explained that such investments could create additional housing available for personal use or long-term rentals.
He also called for incentives to encourage investment beyond central Athens.
What This Means for Investors
The minister’s announcement reinforces the importance of complying with Greece’s existing Golden Visa requirements.
Investors must ensure that their actual investment meets the applicable threshold and that their properties are used in accordance with the program’s restrictions.
For immigration professionals and developers, accurate property marketing, transparent financial arrangements, and compliance with rental regulations remain essential.
Greece’s message is clear: qualifying for a Golden Visa requires more than meeting the investment threshold on paper. The transaction itself must comply with the program’s legal requirements.
