Brake on unfair practices that even have to do with misleading foreign advertising for properties sold in Greece even below the 250,000-euro threshold attempts to put the government in relation to its programme Golden Visa granting residence permits to third-country real estate buyers.
In the new circular, the Minister for Migration and Asylum Thanos Πλερις, which the market has been waiting for for for a long time in order to regulate procedural matters in order to move forward the pending applications, explicit mention is made of any practices linked to misleading advertising in Greece or in the countries of origin towards prospective investors, even referring to the withdrawal of the residence permits granted.
It is noted here that already in 2025, when the market presented «brake» After changes by increasing the limits upwards even more than EUR 800 000 in the high demand zones considered «saturated» due to increased demand and limited supply in Athens, Thessaloniki, Mykonos, etc. (p. with the ultimate goal of protecting and maintaining prices), advertising on the internet and social networks with misleading advertisements, with prices at 230 km. EUR or even EUR 180 million.
As it has written since November Newmoney. gr, on the internet and social networks, there are widely circulated videos and advertisements with small apartments in Athens that cost less than the minimum of 250,000 euros (which has, by the way, been kept under conditions and exceptionally in specific cases for preservation, change of use with the purchase of industrial buildings or parts of them and their conversion into housing. etc.) eligible for Golden Visa.
As has been denounced by market people, the practice in this case actually concerns cheaper properties for which the required minimum amount of 250 mm is collected. EUR and then refunded through various technical types for example prepaid rents for a period of 5–10 years, expenses such as taxes, legal fees, furnishings, etc.
«It is true that in recent years there have been cases of advertising of the programme abroad, with limits lower than those laid down in the law.» comments now on newmoney.gr , Mr. Alexander Varnavas of VARNAVAS LAW FIRM , who specializes in investment migration issues. However, he adds that the contracts were always controlled by the competent authorities in order to determine whether covert repayments to investors were hidden in order to circumvent the framework and obtain a residence permit with a lower than the envisaged investment.
The circular
Now the Immigration Ministry is making a clear warning to the market to make it absolutely known to both sellers and buyers that such practices will also bear the corresponding consequences. As noted in the relevant circular signed by the Secretary General for Migration Policy Constantina Papakosta «in order to ensure the reliability and integrity of our country's investment plans through migration, and in particular that relating to the granting of the permanent investor residence permit due to an investment in real estate (Article 100, Law 5038/2023), it is noted that our services are in close cooperation with the competent authorities of control and law enforcement.
In this context and in the event that we are identified by our service or reported practices linked to it, either by misleading advertising in Greece or in the countries of origin against prospective investors, concerning the conditions for granting the permanent investor residence permit (e.g. price level, price payment by the investor, rights granted, rental ban on a sharing platform), or by unfair practices linked to the realisation of the investment (e.g. cases of undue/indecent transfer of money before or after the investment) leading to the acquisition of a residence permit with an investment substantially less than, where appropriate, required by law, this will raise the relevant complaints before: a) of the competent tax authorities and/or enforcement authorities and (b) of the Greek Anti-Registration Authority for their further activities.
Where practices are found in the above, which are circumventing and contrary to the provisions and restrictions laid down in Article 100 of Law 5038/2023, it is noted that these lead, in addition to the specific penalties laid down in Article 100 of Law 5038/2023, to the withdrawal of residence permits granted in accordance with the provisions in force.».
Read more HERE the circular
It is noted here that based on the data from the Immigration Ministry until February 2026, nationality with most initial permanent investor licenses remains far away China (48.1%) with 10,593 initial permanent investor residence permits followed by Turkey (16.3%) with 3.578, Lebanon (4.7%), Iran (3.9%), United Kingdom (3.7%), Israel (3.1%), USA (2.7%), Egypt (2.6%), Armenia (1.1%) and Serbia (1%).
After China, Turkey and Lebanon are key «tanks» real estate buyers with economic and geopolitical factors playing an important role.
Stefania Souki
