Many Golden Visa investors in Greece plan to let their property to tourists. Since 2024 the law has restricted this. The Ministry of Migration and Asylum explained the rule in an official circular in April 2026. This article summarises what the circular says, who it covers and what it leaves out.

It is general information, not legal advice. The law is stated as at 23 October 2026.

The rule in one sentence

Under paragraph 7A of Article 100 of Law 5038/2023, a property that a non-EU citizen buys in full ownership to obtain or renew an investor residence permit may not be let short-term “in the sharing economy”, and it may not be sublet. Article 64 of Law 5100/2024 added this paragraph.

What counts as a “short-term” rental

The circular does not leave this open. It quotes Article 111 of Law 4446/2016, which defines a short-term lease as one:

  • of a property, whether or not it is advertised on a digital platform;
  • “for a specific period of less than sixty (60) days”; and
  • where no services are provided other than accommodation and bed linen.

So a stay of 60 days or more falls outside this definition. The test is the length of the contract and the services offered. It is not the platform you use.

A second restriction: no business seat

The circular also points to a separate limit. A property bought under point (c) of paragraph 2 of Article 100 may not be used as the seat or a branch of a business. Point (c) covers properties whose main spaces have been changed to residential use.

What happens if you break the rules

The circular says that a breach leads to “sanctions (revocation or non-renewal of the residence permit, and administrative fines)”. It does not state the amount of any fine. We therefore do not give a figure here. If you see a specific amount quoted elsewhere, ask for the legal source.

What the ban does not cover

The circular lists several situations that fall outside the ban. In summary:

  • Long-term leases. The ban applies only to short-term lets in the sharing economy. It does not, for example, cover long-term leases or subleases to tourism businesses for professional use under Article 1(2) of Law 4276/2014. This applies where services other than accommodation and bed linen are provided (for instance, where the property is a hotel).
  • Properties bought before the change. The ban does not apply to properties acquired under the earlier rules.
  • Investments completed in the transitional period. It also does not apply to properties whose investment is completed within the transitional period in paragraph 4 of Article 64 of Law 5100/2024.

The last two points depend on dates and on the facts of each purchase. Do not assume you are exempt without checking your own file.

Related changes in the same circular

The same circular confirms other rules that affect how you plan a purchase:

  • The minimum investment is €800,000 in Attica, the Thessaloniki regional unit, the Mykonos and Thira regional units, and islands with more than 3,100 residents. Elsewhere it is €400,000.
  • The minimum value now refers to a single property.
  • For built property, or property with a building permit, the main spaces must total at least 120 m². Parking spaces and storage rooms do not count as main spaces. Unbuilt land has no minimum area.

For the full picture, see our Golden Visa Greece guide.

What to check before you buy

If you want rental income, take these steps before you sign:

  1. Decide whether you intend short-term lets (under 60 days) or longer leases. The rule treats them differently.
  2. Check when and how the property is being acquired. The date matters for the exemptions.
  3. Check the property’s use. If its main spaces have been changed to residential use under point (c), the business-seat limit applies.
  4. Plan the lease terms and any platform listing with a lawyer, so you do not put the permit at risk.

How we can help

We advise investors on the full process, from due diligence on the property to the permit application and renewal. See our page on the Golden Visa lawyer in Greece and our real estate lawyer services. We cannot promise any outcome, because the decision belongs to the authority. To discuss your case in confidence, book a consultation.

Source

  • Ministry of Migration and Asylum, Circular 1, “Application of the provisions of Article 100 of Law 5038/2023 (permanent investor residence permit, type B.5)”, ADA ΨΣΙ746ΜΔΨΟ-ΔΧΜ, signed 22 April 2026, Clarification 7: Diavgeia.

This article is general information and is not legal advice. Rules and their application change. Take advice on your own situation before you act. Last checked: 23 October 2026.