The Greece Golden Visa Budget: Property, Application and Annual Costs

The property threshold is only one part of your budget. Obtain an itemised quote for the exact unit and your family, showing which figures are fixed, estimated or payable to third parties.

What should I budget beyond the property price?

Allow separately for applicable purchase tax, notary, registration, legal and advisory fees, translations, permit and card fees, insurance and travel. Where ordinary transfer tax applies, the 3% tax plus the municipal levy on that tax gives an effective 3.09% of the taxable value. The exact tax treatment and professional fees depend on the transaction; request an itemised quote.

For illustration, an ordinary transfer taxed on €250,000 generates €7,500 of transfer tax and a €225 municipal levy: €7,725 combined. The same calculation gives €12,360 at a €400,000 taxable value or €24,720 at €800,000. These examples exclude notary, registration, legal, permit and other costs and apply only where ordinary transfer tax is due.

Ask for the current permit and card fee codes for the investor and each relative. Fees can differ by application category, age and exemption; a generic per-person figure should not substitute for your family’s quotation.

What health insurance will my parents need?

Each applicant needs insurance that meets the residence-permit requirements. For older relatives, obtain a written quote covering age limits, exclusions, pre-existing conditions and renewal terms. A residence card does not itself guarantee free public healthcare; access must be checked separately. A low headline premium is not a family healthcare budget.

What are the ongoing ownership costs?

Budget for annual property tax (ENFIA), building charges, maintenance, insurance, utilities, accounting and any management fees. Rental income may generate Greek tax obligations even while you live abroad. A vacant property still has running costs. Ask for an annual budget for the particular unit.

Does the permit automatically make me a Greek tax resident?

No. Immigration status and tax residence are different. Greek rules examine your principal home, habitual abode and centre of vital interests, as well as presence exceeding 183 days in a twelve-month period, with specified exceptions. Greek-source income can still be taxable for non-residents. Review both countries’ rules before relocating.

Is a developer rental guarantee backed by the government?

No. It is a private contractual promise, if offered. Check the payer, duration, payment schedule, exclusions, security and remedies for default. Ask whether quoted income is gross or net and what happens after the contract expires. The Golden Visa does not insure your rent or capital.

A useful cost sheet also shows exchange charges, travel, furnishings, expected repairs and a vacancy allowance. Compare the total cash required with your available budget before agreeing the payment schedule.