Updated August 2026 under Law 5100/2024. An earlier version of this article quoted €250,000–€500,000 thresholds; those no longer apply to standard residential purchases.

Most Golden Visa articles stop at the investment amount. This one is about what happens after you decide: the order of operations, who does what, how long each stage takes and where applications go wrong. It is the process BUY GREECE runs for clients from Chicago and Glyfada, Athens, and it works the same whether you fly over or never leave home.

First, the tiers, so nothing below is misread

One property, at least 120 m² (except the €250,000 route), no short-term letting, renewable 5-year permit, no minimum stay. Source: Law 5100/2024.

Step 1: choose a property that qualifies, not just one you like

The most common mistake is falling for a home and checking eligibility afterwards. Before any deposit we confirm three things: the tier the address sits in (Crete is a good example of a region split between €400,000 and €800,000 by municipality), that the unit is a single property of at least 120 m², and that the contract price, not a valuation, clears the threshold. A €790,000 apartment in Glyfada is a lovely purchase and not a Golden Visa.

Step 2: the Greek tax number and a bank account

Every buyer needs an AFM (Greek tax number) and most need a Greek bank account to route the funds. Both can be done by a lawyer under power of attorney, typically one to three weeks. The power of attorney itself is signed at a Greek consulate or, for some nationalities, apostilled locally.

Step 3: due diligence, then the purchase

Title and liens at the Hellenic Cadastre, building permits and planning legality, tax clearance on the property, the energy certificate, a technical survey and the notary's review of the file. Only then the contract, signed before a notary in person or by your attorney. Funds must arrive through the banking system from abroad; cash and crypto do not qualify.

Step 4: the application

With the purchase registered, your lawyer files the Golden Visa application with the Migration Directorate for the region. You receive a provisional certificate that lets you stay in Greece lawfully while the permit is processed. Documents typically include the purchase contract and cadastre registration, proof of payment through the banking system, passport, health insurance valid in Greece, and the fee. Family members (spouse, children under 21, dependent parents of both spouses) apply on the same file.

Step 5: biometrics and the permit

Fingerprints and a photograph are taken in Greece, one visit for the main applicant and each family member. Processing times vary by region and workload; BUY GREECE plans for several months and books the biometrics visit to coincide with a property trip where possible. The permit is valid for five years and renews as long as you still own the qualifying property.

Step 6: holding it, renewing it, and the citizenship question

There is no minimum stay, so the permit does not force you to live in Greece. It does not by itself make you a Greek tax resident either; that follows the usual 183-day rules. Citizenship is a separate track that requires seven years of actual residence and a language test; the Golden Visa keeps that door open but does not walk you through it.

Where applications go wrong

• Buying in a €800,000 zone with a €400,000 budget because an older article said €250,000.
• Two smaller units bought to reach the threshold; the law requires a single property.
• Funds wired from a third party or through a non-banking channel.
• Letting the property on Airbnb; Golden Visa property cannot be short-term let.
• Missing the renewal because the five years passed quietly.

Frequently asked questions

Can I do the whole thing without travelling to Greece?

Almost. The purchase, AFM, bank account and application can all be handled by power of attorney. Biometrics require one visit per applicant.

Does the permit cover my family?

Yes: spouse or registered partner, children under 21, and dependent parents of both spouses, on the same application.

Can I rent the property out?

Long-term, yes. Short-term (Airbnb-style), no; Golden Visa property is excluded from short-term letting.

Which regions are still €400,000?

Most of Greece outside Attica, Thessaloniki, Mykonos, Santorini and the larger islands: the Peloponnese, much of Crete, mainland regions and smaller islands. We confirm the tier for each specific address.

Ready to start? Brief BUY GREECE, read the full Golden Visa guide, or see which zones cost what.

About this guide

Published by BUY GREECE LLC, the US real estate company with offices in Chicago, Illinois and Glyfada, Athens. Reviewed by Kirill Samarits, Founder & CEO. Nothing on this page is legal, tax or immigration advice; confirm current rules with a licensed Greek lawyer before committing capital. Corrections: contact BUY GREECE.