The Greek Golden Visa €250,000 change-of-use route

Three thresholds, and where €250,000 applies

Article 100 of the Migration Code (Law 5038/2023) sets the minimum property investment for the permanent investor residence permit known as the Golden Visa. Article 64 of Law 5100/2024 replaced its thresholds from 5 April 2024. In every tier the investment must be one property.

Patras sits in the €400,000 zone, where a standard flat also needs 120 m². The change-of-use route removes both hurdles: it is a separate category, not a discount.

The conditions of the €250,000 change-of-use route

These come from the law, Joint Ministerial Decision 214926/2025 and Circular 1/2026. All must be met when you file. Your lawyer checks each one; the Ministry decides.

How MVR 19 fits the route

MVR 19 is an existing building on Mavromataion Street in south Patras. TPL S.A., its owner and developer, is converting it from non-residential use into 19 independent studios of 16.29 to 27.64 m², each with a kitchenette and a private shower room. It is designed for the €250,000 change-of-use route; eligibility is subject to completion of the change of use.

Status: conversion in preparation

The change-of-use permitting act is still to be issued, and the completion date will be announced. Until the act is issued and the conversion is complete, no buyer can file on the €250,000 route. We will publish the act's number and date on this page when it is issued, and we send the legal pack with the price list.

Each studio is a separate property

Circular 1/2026 confirms that when one conversion produces several apartments, each one qualifies on its own. Each MVR 19 studio is sold by its own notarial deed at €250,000, the full price in the deed. The 120 m² minimum does not apply.

Storage rooms in the same deed

The building has 9 storage rooms. A storage room in the same building, bought in the same deed and used as ancillary space, counts toward the €250,000 value (Clarification 2). Storage is optional; sizes on request.

Compare the 19 residences

Step by step: from reservation to a five-year card

A Greek lawyer can handle most steps under a power of attorney. You come to Greece once, for biometrics.

Timing. The official register, mitos.gov.gr, lists 50 days once the file is complete, and the law sets two months. In practice, allow several months: in August 2026 the regional administration covering Western Greece, the Peloponnese and the Ionian, which includes Patras, had 627 pending Golden Visa cases. See the timeline guide.

Family members covered by one investment

One investment can bring residence permits, linked to yours, for:

• your spouse, or a registered partner (partnership concluded in Greece or abroad);
• unmarried children under 21 of you or your spouse, subject to custody rules;
• your parents and your spouse's parents.

These rights derive from the investor, so after divorce or death your spouse's parents lose theirs. Family fees apply; your lawyer confirms the current amounts. Ages and documents are covered in the family members guide.

What the permit gives you, and what it does not

• Residence in Greece for five years, renewable for further five-year periods while you own the property, with the €2,000 fee each time.
• No minimum stay. Time abroad does not prevent renewal.
• No right to work. You may hold shares, or sit on a board as a non-executive member, but not act as a company's legal representative.
• Schengen short stays of up to 90 days in any 180-day period in other Schengen countries, without the right to live or work there.
• No citizenship through investment. Naturalisation needs seven years' lawful residence and a B1 Greek-language and civics exam, and actual residence is expected in practice. See Golden Visa to citizenship.
• Tax residence follows separate rules; ask a tax adviser.

Letting rules: long-term leases yes, short-term platforms no

A Golden Visa property may not be let or sub-let short-term in the sharing economy, the Airbnb model. Circular 1/2026 (Clarification 7) defines short-term as under 60 days, with no services beyond accommodation and bed linen. A breach means revocation of the permit and a €50,000 fine.

Long-term leases are allowed, and an academic-year student lease is the natural use of an MVR 19 studio. MVR 19 is planned for long-term letting only. Greek law treats a main-residence lease as lasting at least three years, so ask your lawyer how that applies to a student lease.

Rent is taxed in Greece after a 5% deduction: 15% up to €12,000 a year, 25% up to €24,000, 35% up to €36,000 and 45% above (scale from tax year 2026).

Income is modest. Small studios nearby let for about €250–300 a month plus bills (listings, September 2026): about 1.2–1.4% gross on €250,000, or up to about 3% as a managed all-inclusive let, with higher costs. These are illustrative observations, not forecasts. The value case is the permit plus a low-maintenance, long-let asset. See student demand, both sides.

Resale and the once-only rule

The €250,000 route can be used once per property (Circular 1/2026, Clarification 9). A later non-EU buyer seeking a permit through the same property would need the standard Patras tier: €400,000 and 120 m². No studio can meet that, so resale is to buyers who do not need a permit, at local market value.

Patras asking prices averaged about €1,467/m² in the first quarter of 2026, and more for renovated central stock. On those numbers a small studio is worth a fraction of €250,000 on the local market. Treat the difference as the cost of the permit, not capital you will recover, and get an independent valuation if it matters to you.

Selling ends your permit, unless you first buy a qualifying replacement and notify the authority.

What it costs to buy

An MVR 19 residence costs €250,000, the full price in the notarial deed. There are no rebates, cash-back or seller-paid buyer costs: Clarification 23 treats undocumented money flows before or after a purchase as grounds for referral to the tax, police and anti-money-laundering authorities and for revocation. On top of the price, a buyer pays:

Yearly costs include ENFIA property tax, building charges, insurance, tax on rent and the €2,000 fee at each renewal. The costs and taxes guide has a worked example.

The announced 15% transfer tax

In September 2026 the government announced a 15% transfer tax, instead of 3%, for non-EU and non-EEA individuals buying residential property from 1 July 2027. As announced, companies, people of Greek origin and long-term residents would be excluded.

It is not law. A bill and public consultation must follow, and the treatment of converted property is unknown. Applied in full, it would cost about €37,500 to €38,600 on €250,000, instead of €7,725 today. Do not base a decision on a tax that is not yet law. We will update this page when a bill is published.

Nationality notes

• Non-EU nationals only. Since Brexit, that includes UK nationals.
• Russia and Belarus. New applications, including family members' applications, are suspended (Circular 1/2026, Clarification 22).
• Payment. If your country limits outward transfers, plan the route with your bank before you reserve.
• Documents. Foreign certificates usually need an apostille or consular legalisation and an official Greek translation.

More in the nationality guide.

What could go wrong

The risks we think a buyer should weigh, including those specific to MVR 19:

• Permit delay. The MVR 19 act is not yet issued and no completion date is set, and you cannot file before completion. Ask how your money is protected if it slips.
• Eligibility evidence. Non-residential use on 5 April 2024, a permitting act on or after that date and the engineer's report must all hold. A gap closes the route.
• Rule changes. Thresholds were last raised in April 2024 and a 15% tax has been announced. Rules can change before you apply.
• Processing backlog. 627 cases were pending in the region in August 2026. Allow several months.
• Resale value. Expect to sell for much less than €250,000.
• Rental income. Yield is low and rent is not guaranteed. New purpose-built residences add supply; about 6,000 studios and small flats were listed vacant in November 2025; and 7.6% of students admitted in 2026 did not register.
• Offers that break the rules. Cash-back, “covered” fees or furniture, and above-market rent guarantees can cost you the permit. MVR 19 offers none of them.

Documents checklist

Your lawyer assembles the file. Article 2 §2.6 of JMD 214926/2025 and the common rules ask for:

Questions investors ask about the €250,000 route