Greece’s New Golden Visa Framework for 2025: Simpler Procedures & A Shift Toward Real Development

Greece is entering a new era for the Golden Visa program, introducing a reformed framework designed to make the process more transparent, more efficient, and more aligned with the country’s housing and development priorities. The updated regulations focus on reducing bureaucracy, unifying documentation requirements, and steering foreign investment toward projects that genuinely benefit local communities and the real estate market.

A streamlined and unified application process

Under the new Joint Ministerial Decision, all investment types — including property purchases, time-sharing agreements, heritage buildings, change-of-use projects, land acquisitions and more — will now follow one unified set of documentation rules.

For the first time, applications can be submitted electronically, without the investor being physically present in Greece. Physical presence is required only for biometric registration, simplifying the process significantly.

Key requirements now include:

• a private insurance policy,

• a €2,000 electronic fee per application,

• a €180 consular fee for entry visa issuance,

• a notarial certificate confirming the property details, purchase value, parties involved, and payment method,

• supporting documentation from lawyers and engineers.

Where applicable, properties must clearly state the minimum required 120 m² of main living space.

End of Golden Visa use for short-term rentals

A major objective of the reform is to prevent large-scale purchases of small apartments intended solely for Airbnb-style rental. These practices removed homes from the long-term market and contributed to higher rental prices in urban areas.

From 2024 onward, short-term rentals are no longer permitted for properties acquired for Golden Visa purposes.

Permitted options now include:

• time-sharing agreements (for specific periods each year),

• long-term leases of at least five years within mixed-use or resort developments.

This change aims to return more housing stock to residents and to rebalance pressure on the rental market.

Boosting investment in old, unused, or industrial buildings

The government is encouraging investors to focus on assets that need real redevelopment, such as abandoned factories or outdated commercial structures.

To convert an industrial property into residential use, investors must provide:

• an engineer’s report verifying that the property has not operated as a factory for at least five years,

• proof such as utility disconnection records (from the Municipality or DEDDIE), tax form E2 filings, or other official documents.

These measures support urban regeneration and limit speculative activity in existing residential neighborhoods.

Flexible rules for land and plot investments

In an effort to stimulate new housing development, the Golden Visa may now be granted based on either:

• the combined value of land purchase and construction cost, or

• the construction cost alone.

This flexibility directs investment toward the creation of new residential inventory rather than the simple resale of existing units.

Special incentives for listed (heritage) buildings

For heritage properties, approval requires an engineer’s report confirming that restoration or reconstruction works have been completed.
The goal is to promote the preservation of Greece’s architectural heritage through responsible foreign investment.

A program redesigned to benefit both investors and society

The reformed Golden Visa aims to:

• limit speculative real estate activity,

• increase available housing for long-term residents,

• promote urban renewal in neglected areas,

• support restoration of culturally valuable buildings,

• simplify the process for genuine investors.

Greece is repositioning the Golden Visa as a strategic tool for long-term development rather than a mechanism for mass apartment acquisitions.