The Greek Golden Visa in the Ionian Islands

What it is

The Golden Visa is a five-year Greek residence permit granted to non-EU nationals who make a qualifying investment, most commonly the purchase of a property. It is renewable for further five-year periods as long as you keep the property, it has no minimum-stay requirement, it extends to your family, and it gives visa-free movement in the Schengen area. It does not give the right to work as an employee in Greece, and it does not by itself make you a Greek tax resident.

The thresholds

Since April 2024 the minimum investment depends on where the property is. The Attica region, Thessaloniki, Mykonos, Santorini and every island with more than 3,100 inhabitants at the latest census are in the €800,000 zone. Everywhere else is €400,000. The census in force is 2021, and the rule is applied island by island — which produces a real difference across the Ionian:

€800,000: Corfu, Kefalonia, Zakynthos, Lefkada, Kythira.

€400,000: Paxos (with Antipaxos), Meganisi, Ithaca, and the small islands of Kalamos and Kastos.

A note on Ithaca: its 2021 population of 2,862 places it below the 3,100 line, but early press lists from 2024 used the older census and put it in the €800,000 zone, and some guides still repeat that. We show the €400,000 figure because that is what the enacted law and the current census give; before relying on it, ask your lawyer to confirm the classification in writing with the migration authority.

Two further routes exist anywhere in Greece at €250,000: converting a commercial building to residential use (the conversion must be completed before you apply), and fully restoring a listed building.

The rules that trip people up

One property, at least 120 m². The investment must be a single property whose main living areas total at least 120 m². Parking and storage do not count towards the 120 m², and you cannot add two smaller units together. Spouses can co-own one property on one threshold; unrelated co-owners must each meet the threshold on their own share.

The value test is the price in the deed, paid in full before you apply, by bank transfer or card to an account in Greece. Payment by a spouse or a relative up to the second degree is allowed if it is declared in the deed.

No short-term letting. A property bought for a Golden Visa granted after 5 April 2024 may not be let for stays under 60 days. The penalty is revocation of the permit and a fine of €50,000. Long-term letting of 60 days or more is allowed. If your plan is summer rental income, the Golden Visa is the wrong tool; if your plan is a home you use and perhaps let for the winter, it works.

Keep the property. Selling before you own a replacement qualifying property cancels the permit. Buy the replacement first.

Never trust a listing that says "Golden Visa" below the zone minimum. In April 2026 the ministry announced a crackdown on adverts that promise eligibility for properties priced under the legal thresholds, with permit revocation and referral to the tax and anti-money-laundering authorities. On this site the Golden Visa mark appears only where the asking price meets the island's minimum and the main area is at least 120 m² — and eligibility is always confirmed by your lawyer, not by us.

Family

The permit covers your spouse or registered partner, children under 21, the parents of both spouses and, since 2026, adult children without legal capacity. Children who turn 21 receive their own three-year permit. Family permits do not include the right to work.

Costs and timing

State fees are €2,000 for the main applicant at issue and at each renewal, €150 per adult family member and €16 per card, plus private health insurance. Allow for the ordinary purchase costs described in our buying guide.

In 2025–2026 the realistic timeline from purchase to card has been six to nine months, with the best cases at four to six; the ministry reports faster processing in 2026 after a large backlog was cleared. Applications for Ionian property are handled by the regional migration directorate for the Peloponnese, Western Greece and the Ionian.

What may change

The National Housing Strategy adopted in August 2026 proposes a new Golden Visa category for portfolios of several properties that are exclusively let long-term. It is a policy decision that still needs legislation; the existing thresholds are unchanged. We update this page when the law changes, and we date it so you can see when it was last reviewed.

Golden Visa versus the other routes

If you are an EU citizen you need none of this. If you are moving to Greece to work remotely, the Digital Nomad visa (€3,500 net monthly income, no property purchase required) is usually simpler. If you will actually live in Greece, tax residency and the special regimes for new residents — the €100,000 flat tax on foreign income, the 7% pensioner rate, the 50% exemption for new employment income — deserve a separate conversation with a Greek tax adviser before you decide where and what to buy.