Greece Golden Visa Through Historic and Protected Buildings: A Comprehensive Legal Guide for 2026

Introduction

The Greece Golden Visa through historic and protected buildings provides a special residence-by-investment opportunity for non-European Union nationals who acquire qualifying listed real estate and undertake its restoration or reconstruction.

Under Greece’s current Golden Visa system, the standard minimum property investment is generally €800,000 in high-demand areas and €400,000 in the remaining regions. However, a special €250,000 investment threshold continues to apply where the investment concerns a formally designated listed building, part of a listed building, or real estate on which a qualifying listed building is situated.

This special route may be available regardless of the property’s location. A qualifying historic property in Athens, Thessaloniki, Mykonos, Santorini or another area normally subject to the €800,000 threshold may therefore potentially support a Golden Visa application with an acquisition value of €250,000.

The lower investment threshold does not mean that the listed-building route is simple or inexpensive. The investor must acquire one qualifying property, prove its formal protected status and complete its full restoration or total reconstruction before the first residence permit renewal. A transfer made before the required restoration or reconstruction has been completed is legally invalid. Failure to comply may also result in revocation or non-renewal of the residence permit and administrative sanctions.

The investor must also distinguish between a building that is merely old and a building that has been formally designated as listed or protected under Greek law. Architectural beauty, age, location in a traditional neighbourhood or historical associations do not automatically establish eligibility.

This guide examines the legal requirements for using a listed or protected building as the basis of a Greece Golden Visa application, including property eligibility, acquisition structure, restoration duties, planning permissions, documentary requirements, taxes, application procedure, renewal and the principal legal risks.

What Is the Listed-Building Greece Golden Visa Route?

The listed-building route is a category of the Greek permanent investor residence permit governed by Article 100 of the Greek Migration Code, Law 5038/2023, as amended by Article 64 of Law 5100/2024.

It applies to third-country nationals who invest through the acquisition of Greek real estate consisting of:

• A listed building requiring restoration or reconstruction;
• Part of a listed building requiring restoration or reconstruction;
• A property within which a listed building is located;
• In qualifying cases, property resulting from lawful interventions, extensions or additions connected to a listed building;
• A new independent building constructed on land on which a listed building requiring restoration or reconstruction is situated.

The official Greek procedure identifies the permit as a Type B.5 investor residence permit. The initial residence permit is valid for five years. Applications are submitted digitally through the electronic services of the Greek Ministry of Migration and Asylum.

The listed-building route should not be confused with:

• Purchasing any old apartment or house;
• Buying property in a historic district;
• Purchasing a traditional-looking stone building;
• Renovating a building that has no formal protection order;
• Buying shares in a development company that owns protected real estate;
• Acquiring several small listed units whose total value reaches €250,000.

The property must satisfy the specific statutory conditions applicable to listed real estate.

Minimum Investment Requirement

The minimum acquisition value for a qualifying listed-building investment is €250,000.

The applicant must hold full ownership and possession of the property. The investment must concern one property, and the minimum 120-square-metre requirement imposed on standard €400,000 and €800,000 Golden Visa investments does not apply to this route.

A listed building measuring less than 120 square metres may therefore qualify, provided that:

• The acquisition price is at least €250,000;
• The property constitutes one qualifying legal property;
• The building or façade has been formally listed;
• The investor obtains full ownership and possession;
• The required restoration or reconstruction is completed before the first renewal;
• The remaining immigration and payment conditions are satisfied.

The €250,000 amount refers to the qualifying acquisition value. It does not normally include the investor’s separate expenditure for transfer tax, architects, engineers, restoration contractors, permits, lawyers, notaries or property management.

A property purchased for €220,000 will not ordinarily reach the threshold merely because the buyer later spends €30,000 on repairs. The purchase price or legally recognised acquisition value must independently satisfy the statutory minimum.

The Investment Must Concern One Property

The exceptional €250,000 investment must generally be made in one property.

An investor should not assume that two separate listed apartments worth €125,000 each can automatically be combined. The legal identity of the investment is determined through the title deeds, cadastral records, horizontal or vertical ownership arrangements and the notarial acquisition structure.

Storage areas and parking spaces may be included within the concept of one property where they are purchased under the same deed, situated in the same building and legally constitute auxiliary spaces or appurtenances connected to the principal property. The property structure must nevertheless be confirmed before the investor signs a binding contract.

The fact that several units are physically connected or marketed as one development does not necessarily mean that they are one property for Golden Visa purposes.

What Counts as a Listed or Protected Building?

The building must have been formally designated as listed or protected under Greek law.

The official procedure expressly requires the applicant to demonstrate that the real estate has been designated as listed either:

• In its entirety; or
• In respect of its façade only.

The notarial certificate submitted with the residence permit application must identify the relevant Greek Government Gazette issue confirming the designation.

This requirement is essential. The following descriptions are not sufficient by themselves:

• “Historic property”;
• “Neoclassical building”;
• “Traditional residence”;
• “Heritage-style property”;
• “Located in the old town”;
• “Architecturally protected area”;
• “More than 100 years old.”

The lawyer must obtain and review the formal administrative decision establishing the protected status.

The exact scope of protection must also be examined. In some cases, the entire structure is protected. In others, only the façade, roof, external features or particular architectural elements may be listed.

The scope of protection affects:

• Which parts may be demolished;
• Whether internal layouts may be changed;
• What materials must be used;
• Whether additional floors are permitted;
• Whether modern installations may be introduced;
• Which authorities must approve the restoration;
• The expected cost and duration of the works.

A formal listed designation may provide access to the €250,000 Golden Visa category, but it may simultaneously impose extensive development restrictions.

Façade-Only Protection

A building may potentially qualify even where only its façade has been formally designated as listed.

The official administrative procedure confirms that designation of the façade alone may be sufficient, regardless of the extent of the works required for restoration or reconstruction. The relevant Government Gazette reference must be recorded in the notarial certificate.

However, façade-only designation does not mean that the investor may freely alter the remainder of the building.

Other legal limitations may arise from:

• Planning legislation;
• Archaeological protection;
• Traditional-settlement rules;
• Building regulations;
• Structural safety requirements;
• Condominium regulations;
• Neighbouring listed properties;
• Conditions imposed by the competent architectural authority.

The lawyer, architect and engineer must therefore examine the entire regulatory framework rather than relying solely on the wording of the listing decision.

Properties Containing Listed Buildings

The investment may concern not only the listed building itself but also real estate on which a listed building is situated.

Current administrative guidance recognises qualifying investments involving:

• Interventions to listed buildings;
• Vertical additions;
• Horizontal extensions;
• New independent buildings constructed on plots or land parcels containing a listed building that must be restored or reconstructed.

In these cases, the notarial documentation must clearly connect the acquired property to the listed building, the cadastral code and the Government Gazette designation.

This route may be relevant to larger development projects in which the investor acquires a new or extended unit connected to a protected structure.

However, such arrangements require detailed legal scrutiny. The investor should verify:

• Whether the new unit has been legally created;
• Whether it constitutes one qualifying property;
• Whether the listed building remains subject to restoration;
• Whether the development permits are final;
• Whether the independent unit has its own cadastral identity;
• Whether restoration responsibility is allocated to the investor, developer or co-owners;
• What happens if the protected building is not restored.

A purchase contract should clearly establish who is responsible for completing the restoration necessary for the investor’s first permit renewal.

Full Restoration Is Required Before the First Renewal

The most important continuing obligation under the listed-building route is the requirement to complete the full restoration or total reconstruction.

The initial five-year residence permit may be issued while the building remains under restoration. However, full restoration of the relevant property elements or total reconstruction is an additional condition for the first renewal of the residence permit.

This obligation applies regardless of whether the deterioration, collapse or demolition was caused by age, structural failure, accident, natural event or another reason.

The investor must therefore plan the restoration so that it can be lawfully completed and certified within the initial five-year permit period.

Failure to complete the work may lead to:

• Refusal of the first renewal;
• Revocation of the residence permit;
• Loss of linked residence rights for family members;
• Administrative sanctions;
• Difficulty transferring or refinancing the property;
• Significant unrecoverable construction expenditure.

A five-year period may appear sufficient, but restoration of protected property can be delayed by permitting procedures, archaeological findings, structural complications, contractor disputes and changes requested by public authorities.

Restoration planning should begin before the acquisition is completed.

Evidence of Restoration

The initial application focuses on the listed status, ownership, purchase price, payment and registration of the property.

At renewal, the investor must be able to prove that the required restoration or reconstruction has been fully completed. Current administrative clarification indicates that completion is certified by an engineer for the purposes of the renewal process.

The renewal file may therefore require technical evidence such as:

• An engineer’s completion certificate;
• Final building-permit documentation;
• Approved restoration plans;
• Confirmation from the relevant architectural or heritage authority;
• Updated Electronic Building Identity records;
• Evidence that unauthorised works have been resolved;
• Contractor invoices and completion records;
• Structural safety documentation;
• Updated cadastral or building records where required.

The exact documents will depend on the property and the restoration approvals.

The investor should not wait until the residence permit is close to expiry before asking whether the works satisfy the renewal requirement.

Transfer Before Restoration Is Invalid

Greek law imposes an unusually strict restriction on the transfer of qualifying listed property.

A transfer completed before the full restoration or total reconstruction of the protected building is finished is invalid. The rule is intended to prevent investors from purchasing listed buildings at the reduced threshold, obtaining residence permits and then selling the properties without completing the required restoration.

This creates substantial legal consequences.

Before restoration is complete, the investor may be unable validly to:

• Sell the property;
• Donate it;
• Transfer it to another company;
• Restructure ownership;
• Transfer a co-ownership share;
• Complete certain settlement arrangements involving title.

The precise effect of any proposed transaction must be examined under Greek property and immigration law.

The restriction should also be disclosed to lenders, business partners, heirs and prospective purchasers.

Sale After Restoration

Even after restoration has been completed, the immigration consequences of a sale must be addressed.

The official procedure states that resale of the investment property during the validity of the residence permit results in simultaneous revocation of the residence permit of the third-country national seller.

An investor intending to replace the property should structure the new investment before disposing of the original investment and obtain confirmation from the competent immigration authority.

The investor should not assume that the permit remains valid until the date printed on the residence card after the underlying qualifying property has been sold.

Restoration and Heritage Permissions

Listed-building restoration differs fundamentally from ordinary renovation.

An owner of an ordinary property may generally make alterations subject to building and planning law. The owner of a listed property may need additional approvals before changing or repairing protected elements.

Depending on the property, approvals may be required from:

• The competent planning authority;
• An architectural council;
• The Ministry of Culture;
• Archaeological services;
• Local heritage bodies;
• The municipality;
• Fire-safety authorities;
• Structural or environmental authorities.

The restoration project may need to preserve or recreate:

• The original façade;
• External ornamentation;
• Windows and shutters;
• Balconies;
• Roof structures;
• Staircases;
• Interior ceilings;
• Decorative elements;
• Historic materials;
• Traditional colours and textures.

The investor should appoint an architect and engineer with demonstrated experience in protected-building projects.

A general contractor experienced only in ordinary apartment renovations may not be qualified to manage a listed-building restoration.

Structural Due Diligence

Older listed buildings may contain serious structural problems.

Before purchasing, the investor should obtain an independent technical inspection covering:

• Foundations;
• Load-bearing walls;
• Roof condition;
• Moisture and water damage;
• Seismic vulnerability;
• Timber decay;
• Corrosion;
• Previous unauthorised interventions;
• Damage concealed behind later finishes;
• Electrical and plumbing systems;
• Fire safety;
• Accessibility;
• Energy-performance limitations.

The building’s protected status may restrict the methods available to correct these problems.

For example, replacing a damaged façade may not be permitted if the original materials must be retained. Structural reinforcement may require specialist design to avoid altering protected architectural features.

A low purchase price may be offset by restoration expenses substantially exceeding the acquisition value.

Legal Title Due Diligence

Protected status does not guarantee clean ownership title.

The investor’s lawyer should conduct a complete title investigation covering:

• The seller’s ownership;
• Chain of title;
• Mortgages;
• Prenotations of mortgage;
• Seizures;
• Easements;
• Court claims;
• Inheritance disputes;
• Co-ownership rights;
• Cadastral registration;
• Boundaries;
• Existing leases;
• Rights of public authorities;
• Previous use of the property in another Golden Visa application.

The official application procedure requires notarial certification concerning the property, contracting parties, purchase price, payment method, any resolutory conditions and whether the seller previously used the same property to obtain an investor residence permit.

The lawyer should also compare the title description with the listing decision and Government Gazette reference.

A discrepancy between the protected building and the property being transferred may undermine eligibility.

Planning and Construction Due Diligence

The engineer and architect should review:

• The original building permits;
• Approved architectural plans;
• Legal use of the property;
• Electronic Building Identity;
• Cadastral information;
• Unauthorised construction;
• Previous planning regularisations;
• Existing restoration approvals;
• Structural studies;
• Archaeological restrictions;
• Traditional-settlement rules;
• Fire-safety requirements;
• Permitted future use.

A building may be formally listed but contain illegal additions, enclosed balconies or unapproved internal alterations.

These issues should be identified before the purchase deed is signed.

The restoration project may require the removal of later unauthorised works and the reconstruction of earlier protected features. These costs should be incorporated into the investor’s budget.

Restoration Budget and Financial Planning

The €250,000 acquisition threshold should not be treated as the total investment cost.

Additional expenses may include:

• Property transfer tax;
• Notary and cadastral fees;
• Legal due diligence;
• Architect and engineering fees;
• Structural studies;
• Archaeological assessments;
• Permit fees;
• Specialist materials;
• Skilled restoration contractors;
• Scaffolding and site protection;
• Utility replacement;
• Insurance;
• Temporary structural support;
• Property management;
• Tax and accounting compliance.

A realistic contingency reserve is essential.

Restoration projects frequently produce unexpected costs after structural elements are exposed. The investor should request a detailed technical specification and cost estimate rather than relying on a developer’s broad renovation allowance.

Contractual Protection

The reservation agreement, preliminary agreement and final purchase deed should be drafted specifically for the listed-building Golden Visa route.

The contract should address:

• The formal listed status;
• The relevant Government Gazette reference;
• The exact property and cadastral code;
• The €250,000 Golden Visa category;
• Existing restoration approvals;
• Responsibility for obtaining permits;
• Responsibility for performing the works;
• Restoration timetable;
• Required technical standards;
• Cost overruns;
• Heritage-authority decisions;
• Investor inspection rights;
• Consequences of delay;
• Golden Visa eligibility;
• Termination and refund rights;
• Liability for inaccurate seller statements.

Where a developer agrees to restore the property, the investor should request:

• A detailed construction specification;
• A fixed or clearly defined price;
• A completion deadline;
• Performance guarantees;
• Reporting obligations;
• Independent inspection rights;
• Delay penalties;
• Protection if the developer becomes insolvent.

The investor’s immigration status should not depend on an unenforceable general promise that the property will be “fully renovated.”

Payment Requirements

The €250,000 purchase price must be paid in full through an authorised and traceable payment method.

The official procedure recognises:

• Crossed bank cheque paid into the beneficiary’s account with a credit institution operating in Greece;
• Bank credit transfer;
• Payment through an authorised POS terminal by debit or credit card into an eligible beneficiary account.

The purchase price may also be paid by the investor’s spouse or relatives by blood or marriage up to the second degree, subject to appropriate documentation and anti-money-laundering review.

The investor should maintain complete records showing:

• The source of the funds;
• The sender;
• The beneficiary;
• The amount;
• The payment date;
• The contractual purpose;
• The connection to the purchase deed.

Cash payments, informal offsets and payments to unrelated intermediaries may create serious immigration, banking and tax risks.

Source-of-Funds Compliance

Greek banks, notaries, lawyers and other regulated professionals may request evidence of the lawful origin of the investment funds.

The investor should be prepared to provide:

• Bank statements;
• Tax returns;
• Employment records;
• Company financial statements;
• Dividend resolutions;
• Property sale agreements;
• Inheritance documents;
• Loan agreements;
• Evidence of business ownership;
• Documentation concerning gifts from relatives.

Where a relative pays the purchase price, the parties should also obtain tax advice concerning any gift or transfer implications.

Source-of-funds preparation should begin before funds are transferred to Greece.

Purchasing Through a Company

The property may potentially be acquired through a legal entity established in Greece or another European Union Member State.

However, the third-country national applying for the Golden Visa must demonstrate that he or she is the sole owner of all shares or other ownership interests in that company.

The investor should review:

• Ultimate beneficial ownership;
• Articles of association;
• Shareholder registers;
• Corporate authority to purchase the property;
• Existing charges over the shares;
• Accounting obligations;
• Greek tax consequences;
• Future restructuring restrictions.

Adding another shareholder after the permit is granted may affect the continuing ownership condition and should not occur without prior immigration advice.

Golden Visa Application Process

Step 1: Identify a Qualifying Listed Property

The lawyer must verify the formal protection order and Government Gazette reference.

Step 2: Assess Restoration Feasibility

An architect and engineer should inspect the building, identify the required approvals and prepare a preliminary restoration budget and timetable.

Step 3: Obtain a Greek Tax Number

The investor generally requires a Greek Tax Identification Number to purchase real estate and complete the related tax filings.

Step 4: Conduct Legal and Technical Due Diligence

Title, cadastral, planning, structural and heritage issues must be examined before the investor becomes unconditionally bound.

Step 5: Sign a Protected Reservation Agreement

The deposit should remain refundable if the property fails the legal, technical or Golden Visa assessment.

Step 6: Pay the Transfer Tax

Greek real estate transfer tax is generally imposed on the buyer at a rate of 3% of the taxable property value. The principal tax is also subject to a municipal levy calculated at 3% of the main transfer tax. The transfer tax must be addressed before the notarial purchase deed is executed.

Step 7: Execute the Notarial Purchase Deed

The deed and notarial certificate should identify the parties, property, payment, Golden Visa category and Government Gazette listing reference.

Step 8: Register the Acquisition

The deed must be registered with the competent Land Registry or Hellenic Cadastre.

For the initial residence application, proof that the deed has been submitted for registration may be accepted in qualifying circumstances. Final registration evidence must be produced at renewal.

Step 9: Submit the Golden Visa Application

The application is filed digitally through the Ministry of Migration and Asylum.

Step 10: Complete Biometrics

The investor must provide the biometric data required for the electronic residence card.

The official administrative procedure estimates a processing period of approximately 50 to 60 days, although this is not a guaranteed completion time.

Application Through a Lawyer

A qualifying third-country national may submit the residence permit application through a proxy, including before entering Greece.

The power of attorney must be executed before a Greek consular authority, a competent foreign authority or a foreign notary. Where applicable, it must bear a Hague Apostille or Greek consular authentication.

The lawyer may assist with:

• Obtaining the Greek tax number;
• Title due diligence;
• Negotiating the purchase;
• Coordinating engineers and architects;
• Signing the deed under authority;
• Registering the property;
• Preparing the Golden Visa application;
• Monitoring restoration compliance;
• Preparing the renewal.

The applicant will still generally need to complete biometric enrolment personally.

Required Application Documents

The official listed-building application procedure generally requires:

• A valid passport or recognised travel document;
• Evidence of lawful entry, visa status or qualifying visa exemption;
• A notarial certificate concerning the parties, property, payment and formal listed status;
• The relevant Government Gazette listing reference;
• Proof of registration or filing with the Land Registry or Cadastre;
• The investor’s E9 real estate declaration;
• Private health insurance;
• Proof of sole company ownership where a legal entity is used;
• A compliant photograph and biometric information;
• Payment of the applicable government fees.

Foreign documents may require an apostille or consular legalisation and an official Greek translation.

Government Fees

The official charges for the principal investor application are currently:

• €2,000 residence permit fee;
• €16 electronic residence card production fee.

The total official charge is therefore €2,016, excluding professional, property and restoration expenses.

The official administrative procedure provides a five-year residence permit.

Private Health Insurance and Security Conditions

The applicant must hold a private insurance policy and must not present a threat to public order, public security, international relations or public health.

The application also requires a valid travel document and appropriate lawful-entry or residence status.

The investment itself does not guarantee approval where the applicant fails the personal immigration requirements.

Property Tax and E9 Registration

Foreign property owners must submit or ensure the proper creation of an E9 real estate statement following the acquisition.

ENFIA is Greece’s annual property tax. It is calculated by reference to real estate held on 1 January and the information recorded in the E9 declaration. Foreign residents are subject to these obligations in the same manner as Greek property owners.

A listed-building investor should also budget for:

• ENFIA;
• Accounting services;
• Insurance;
• Building maintenance;
• Common expenses;
• Restoration monitoring;
• Additional municipal or property charges.

Protected status does not automatically exempt the property from ordinary ownership taxes.

Short-Term Rental Restrictions

Real estate acquired under the revised Golden Visa framework may not be rented on a short-term basis within the sharing economy and may not be subleased in that context.

The prohibition concerns qualifying short-term rentals, including arrangements lasting less than 60 days where only accommodation and bed linen are provided. Breach may lead to revocation or non-renewal of the residence permit and administrative sanctions.

This restriction is particularly important where the listed property is located in a tourism market.

The investor should not base the financial model on Airbnb-style income without obtaining a property-specific legal opinion.

Lawful long-term leasing may be possible, subject to:

• The restoration timetable;
• The property’s authorised use;
• Heritage restrictions;
• Greek tenancy law;
• Tax registration;
• Building regulations;
• The terms of any development agreement.

The lease should not interfere with the investor’s obligation to complete restoration before the first renewal.

Employment Rights

The Golden Visa does not itself grant the investor access to employment in Greece.

The official listed-property procedure expressly states that investor residence permits do not establish a right to any form of employment.

The investor may own property, hold investments and receive lawful investment or rental income. Personally working as an employee or performing a regulated professional activity may require a different immigration or professional authorisation.

Residence Permit Renewal

The first renewal is the critical stage for a listed-building investor.

The investor must generally establish:

• Continued ownership and possession;
• Completion of the full restoration or total reconstruction;
• Final registration of the acquisition;
• Valid passport;
• Private health insurance;
• Compliance with property-use restrictions;
• Continued personal eligibility;
• Updated tax and property records.

The restoration requirement should be treated as a strict deadline rather than a general intention.

An investor whose project is delayed should obtain legal advice well before the expiration of the initial permit.

Rejection and Administrative Appeal

An application may be rejected because:

• The property is not formally listed;
• The purchase value is below €250,000;
• The investment concerns several properties;
• The investor does not hold full ownership and possession;
• Payment was not completed through an authorised method;
• The notarial certificate lacks the Government Gazette reference;
• Registration evidence is missing;
• Insurance is invalid;
• The applicant fails public-order or security checks;
• Corporate ownership does not satisfy the sole-shareholder condition.

The applicant may file an administrative request for reconsideration within two months after service of the rejection decision. The official procedure states that the request is subject to a €50 fee and must be submitted to the department that issued the decision.

Further judicial review may also be considered depending on the grounds of rejection.

Principal Legal Risks

An Old Building Is Mistaken for a Listed Building

Age and architectural appearance are not sufficient. A formal designation and Government Gazette reference are required.

The Scope of Protection Is Misunderstood

The investor may believe that only the façade is protected while the official decision also covers internal elements.

Restoration Costs Are Underestimated

Structural, archaeological and specialist-material costs can substantially exceed the purchase price.

Required Approvals Are Delayed

Restoration permits may require consultation with several public bodies.

Restoration Is Not Completed Before Renewal

Failure to complete the works may result in refusal of the first renewal.

The Property Is Transferred Prematurely

A transfer before completion of the required restoration or reconstruction is invalid.

The Developer Controls the Restoration Process

The investor’s permit may depend on a developer who fails to complete the works.

Title or Cadastral Defects Exist

A listed designation does not eliminate mortgages, seizures, inheritance disputes or boundary inconsistencies.

Unauthorised Construction Is Discovered

Later illegal additions may need to be removed before lawful restoration can be completed.

Short-Term Rental Income Is Assumed

The revised Golden Visa framework restricts short-term rental use.

Source-of-Funds Evidence Is Inadequate

The bank or notary may delay the transaction where the lawful origin of the capital cannot be documented.

Frequently Asked Questions

What is the minimum investment for a listed-building Greece Golden Visa?

The minimum acquisition value is €250,000.

Does the €250,000 threshold apply in Athens and Thessaloniki?

Potentially, yes. The listed-building exception may apply regardless of the property’s location, provided that all special requirements are satisfied.

Does every old building qualify?

No. The property must have been formally designated as listed or protected.

Is façade-only protection sufficient?

Potentially, yes. The official procedure recognises buildings designated as listed in their entirety or in respect of the façade only.

Must the property be at least 120 square metres?

No. The 120-square-metre minimum does not apply to the listed-building route.

Can I purchase two listed properties with a combined value of €250,000?

The investment must generally concern one qualifying property.

Must the building already be restored when I apply?

No. The route concerns buildings to be restored or reconstructed. However, full restoration or total reconstruction must be completed before the first renewal.

What happens if restoration is not completed within five years?

The investor may be unable to renew the residence permit and may face additional administrative consequences.

Can I sell the property before restoration?

A transfer before completion of the full restoration or total reconstruction is legally invalid.

Can I sell the property after restoration?

A sale may be legally possible after completion, but selling the qualifying investment during the permit period may result in revocation of the seller’s residence permit unless a compliant replacement structure is implemented.

Can the property be rented through Airbnb?

Short-term rental through the sharing economy is prohibited under the revised Golden Visa rules.

Can the property be rented long-term?

Long-term leasing may potentially be possible, subject to restoration, heritage, planning, tenancy and tax requirements.

Can I buy through a company?

Potentially, where the company is established in Greece or another EU Member State and the investor is the sole owner of all shares or ownership interests.

Can my spouse pay the purchase price?

The payment may be made by the spouse or qualifying relatives up to the second degree, subject to documentary and banking requirements.

How long is the residence permit valid?

The initial permit is generally valid for five years.

Does the permit allow employment?

No. The investor residence permit does not itself provide access to employment.

Conclusion

The Greece Golden Visa through historic and protected buildings offers a valuable €250,000 residence-by-investment route, including in areas where an ordinary property purchase would require €400,000 or €800,000.

The principal legal requirements include:

• Acquisition of one qualifying property;
• A minimum acquisition value of €250,000;
• Full ownership and possession;
• Formal listed status covering the building or its façade;
• Identification of the Government Gazette designation;
• Full payment through an approved banking method;
• Completion of full restoration or total reconstruction before the first renewal;
• Compliance with the prohibition on premature transfer;
• Proper cadastral, tax and immigration documentation.

The exemption from the 120-square-metre rule makes the route attractive, but the restoration obligation creates substantial technical and financial exposure.

Before paying a deposit, the investor should obtain:

• A written Golden Visa eligibility opinion;
• The formal listing decision and Government Gazette reference;
• A complete title and cadastral report;
• An architectural and structural assessment;
• A restoration feasibility study;
• A detailed cost and timetable analysis;
• Confirmation of all required public approvals;
• A source-of-funds review;
• A purchase agreement containing strong completion and refund protection.

A properly structured listed-building investment may preserve Greek architectural heritage while supporting a renewable residence permit for the investor. An inadequately investigated project may result in major restoration liabilities, an invalid future transfer and loss of the residence permit at renewal.

Last updated: August 2026.

This article is provided for general legal information and SEO publication purposes. It does not constitute individual immigration, property, heritage, planning, tax or investment advice. The eligibility of each investor and property must be assessed under the legislation and administrative practice applicable at the time of the transaction.