How do the Greek golden visa and Georgia's property permits compare?
Both countries give residence to a foreigner who buys property, on very different terms. Greek rows name their source; Georgian figures come from our residence guides.
| Criterion | Georgia | Greece | Source, Greece |
|---|---|---|---|
| Lowest value | Above USD 150,000 (about EUR 133,845) | EUR 400,000; EUR 800,000 in Attica, Thessaloniki and larger islands; EUR 250,000 for conversions and listed buildings | Law 5038/2023, Art. 100 |
| What qualifies | Non-agricultural property, accredited valuation | One property, a building of at least 120 m², paid in full | Art. 100 |
| Permit term | 1 year, renewable; 5 years above USD 300,000 | 5 years, renewable | Arts 95 and 100 |
| Minimum stay | No absence rule found | None | Art. 95 |
| Work | Separate right to work needed | Not included | Art. 100(9) |
| Travel | No visa-free entry elsewhere | Schengen, 90 days in any 180 | Schengen Convention, Art. 21 |
| Tax on buying | None | 3.09% | Government measures document |
| Nightly lets | Allowed | Banned | Art. 100(7A) |
| Tax on rent | 5% of gross | 15% to 45% | Income Tax Code, Art. 40 |
| Naturalisation | After 10 years | After 7 years | Mitos |
Which Greek tier applies, and what must the home be?
Article 100 of the Migration Code, as rewritten by Law 5100/2024, sets the floor by place. It is EUR 800,000 (about USD 896,560) in Attica, which includes Athens, the Thessaloniki regional unit, Mykonos, Santorini and islands of more than 3,100 people, and EUR 400,000 (about USD 448,280) elsewhere. Either way it must be one property, a building with main spaces of at least 120 m², paid in full by bank before you apply; two flats cannot be combined. EUR 250,000 is accepted only for a property converted to housing from another use before you apply, or a listed building fully restored by the first renewal; neither needs 120 m².
Georgia has one national floor: market value above USD 150,000, set by an accredited assessor, for a 1-year permit (see our guide to the USD 150,000 threshold). Above USD 300,000 the investment residence permit runs for five years.
What does each permit allow: stay, travel, work and family?
The Greek investor permit (type B.5) lasts five years and is renewed while you own the home, with no minimum stay. It gives no right to work. As a Schengen permit it also allows visits to other Schengen states for up to 90 days in any 180, but not living or working there. Family members get their own permits: a spouse or partner, unmarried children under 21, adult children lacking legal capacity and the parents of both spouses. The state fee is EUR 2,000 plus EUR 16 for the card, minors exempt; the fee for adult family members is not confirmed.
Georgia's property permit covers a spouse and children and is renewed yearly for as long as the owner holds the property. Since 1 March 2026 its holders need a separate right to work; investment-permit holders are exempt. It gives no visa-free entry elsewhere. The full route is in our guide to residence by property.
What does a Greek purchase cost on top of the price?
The government's measures document of 6 September 2026 states the rate in force: transfer tax of 3% of the taxable value, or 3.09% with the 3% municipal surcharge on the tax. The first-home exemption is not open to a non-EU buyer without long-term or second-generation resident status. New buildings would carry 24% VAT, but Law 5246/2025 suspends it to 31 December 2026, with transfer tax due instead; an extension to 2030 is announced, not law.
The notary charges EUR 20 plus 0.80% of the value up to EUR 120,000, 0.70% up to EUR 380,000 and 0.65% up to EUR 2 million, with VAT on top (Decision 111376/2011). The Hellenic Cadastre takes 0.5% plus small fixed fees (Decision 2/2026). A lawyer usually asks about 1% plus VAT, by custom, not tariff. Georgia charges no transfer tax, GEL 150 to register and an optional notary fee; see our Georgian buying costs.
What does the lowest ordinary purchase cost all in?
| Item | Greece, EUR 400,000 | Georgia, USD 155,000 |
|---|---|---|
| Transfer tax | EUR 12,360 | None |
| Notary | EUR 3,633 with VAT | GEL 968, optional |
| Registry | EUR 2,020 | GEL 150 |
| Lawyer | EUR 4,960 | Not counted |
| Permit and card | EUR 2,016 | GEL 360 |
| Extra costs | EUR 24,989 (6.2%) | GEL 1,478, about EUR 508 |
| Total | EUR 424,989 | About EUR 138,814 |
USD 155,000 leaves a margin above the Georgian floor; a valuation report, priced by each firm, comes on top. On these figures the Greek route costs about 3.1 times the Georgian one. At EUR 800,000 the Greek extras reach about EUR 47,500. The space differs too: the 120 m² minimum at EUR 400,000 is EUR 3,333 per m², while USD 155,000 buys about 108 m² of Tbilisi white frame at Galt & Taggart's August 2026 average of USD 1,432 per m².
What is known about the announced 15% transfer tax?
On 6 September 2026 the Greek government announced that transfer tax on homes bought by non-EU individuals would rise from 3% to 15%, or 15.45% with the surcharge. Persons of Greek descent, EU and EEA citizens and long-term residents would be exempt; companies, business premises and plots would not be covered. Finance Minister Pierrakakis named 1 July 2027 as the start, so as not to surprise the market.
It is an announcement, not law. By 3 November 2026 we found no tabled bill, and no exemption for golden-visa buyers had been announced. If it passed as announced, the tax on a EUR 400,000 home would be EUR 61,800, and the extras in our table would rise to EUR 74,429, or 18.6% (our calculation). Anyone planning a Greek deed after mid-2027 should have a Greek lawyer follow the legislation. Georgia's Tax Code, as consolidated on 30 September 2026, has no transfer tax.
Can a golden-visa home be let to tourists?
No. Article 100(7A) bans short-term letting of a golden-visa property, meaning stays under 60 days, on pain of a EUR 50,000 fine and loss of the permit, and each renewal now needs a declaration that the home is not let that way. Homes bought under the pre-2024 rules are not covered. On 15 October 2026 Migration Minister Plevris warned that owners who break the ban would lose the golden visa (Greek City Times). A lease of 60 days or more stays allowed.
All owners in central Athens face a further limit: no first-time entry in the short-stay register for the 1st, 2nd and 3rd Municipal Districts until 31 December 2026, with fines of at least EUR 20,000. Thessaloniki's 1st Municipal Community has had the same freeze since 1 July 2026. An extension to the end of 2027 was announced in September 2026 but not yet legislated. Georgia puts no letting condition on the permit; see our guide to Airbnb in Batumi.
How is a long let taxed: four Greek bands or a flat 5%?
Since 1 January 2026, Greece taxes rent separately on its own scale: 15% up to EUR 12,000 a year, 25% to EUR 24,000, 35% to EUR 36,000 and 45% above (Income Tax Code, Article 40, as amended by Law 5246/2025; KPMG Greece). Georgia takes 5% of gross residential rent, with no deductions.
| Gross rent | Greece | Georgia |
|---|---|---|
| EUR 12,000 | EUR 1,800 | EUR 600 |
| EUR 22,080 | EUR 4,320 (19.6%) | EUR 1,104 |
EUR 22,080 is a 5.52% gross yield on EUR 400,000. How the scale treats a non-resident landlord, and whether a repairs allowance applies, we could not confirm; ask a Greek accountant. Filing in Georgia is covered in our rental income tax guide.
What does the home cost to keep, and to sell?
Greece's yearly ENFIA tax (Law 4223/2013, Article 4) multiplies floor area by a charge per m² tied to the official zone price, from EUR 2.00 to EUR 16.20, and then by age, floor and frontage factors. For a new 120 m² third-floor flat with one frontage we estimate about EUR 566 a year in a EUR 1,501 to 2,500 zone and about EUR 2,050 in a EUR 4,501 to 5,000 zone, before the land part, which we did not check. Owners of Greek property worth more than EUR 500,000 in total pay 5% to 20% extra. In Georgia, buildings are exempt unless family income last year exceeded GEL 100,000; beyond it the owner pays 0.8% to 1%.
On a sale, Greek law taxes the gain at 15% (Law 4172/2013, Article 41; rate as reported by the press), but the tax has never been applied and, per press and law-firm reports, is suspended to the end of 2026. We found no decision on 2027 as of 3 November 2026. Georgia exempts a home held more than two years and taxes a quicker sale at 5%.
How many investors apply, and how long do files wait?
By our sums of the Ministry of Migration and Asylum's monthly tables, Greece issued 9,017 first investor permits in 2025 and 8,107 from January to September 2026. In September 2026, 35,857 investor permits and 68,653 permits for family members were valid. China held 47.4% of valid first investor permits and Turkiye 19.6%; Israel held 893.
The law allows two months from a complete file. Yet 6,962 investor files were pending in September 2026, 73% of them in Attica, and 1,476 of those dated from 2024. Our reading is that decisions can take well over a year. In Georgia, the Prime Minister reported 107,307 residence permits issued to foreigners in February 2026, with no split by type or period.
Prices, yields and visitors: how do the markets behave?
Athens flat prices rose 5.0% in the year to the second quarter of 2026, after 8.1% across Greece in 2025, by provisional Bank of Greece figures as reported by the Greek press. Geostat's Tbilisi new-build asking-price index rose 5.9% in lari in the year to the third quarter of 2026 (our price index).
Global Property Guide, which divides asking rents by asking prices, gives Athens a gross yield of 5.52% (second quarter of 2026). Galt & Taggart gives Tbilisi 8.7% (August 2026, new flats at the white-frame price) and Batumi 7.1% (June 2026, nightly rates at the turnkey price). The methods differ, so read them as a ranking; see our rent index and Batumi review. A golden-visa home earns only from long lets.
Greece had 37.98 million non-resident arrivals in 2025, excluding cruises (Bank of Greece, via the press), and Athens airport handled 27.31 million passengers in January to September 2026, up 4.3%. Georgia counted 7.8 million international travellers in 2025.
Seven years or ten: what does citizenship really require?
Mitos, the Greek procedures registry, asks a naturalisation applicant to have lived in Greece lawfully and permanently for seven years, and a permanent investor permit counts. It adds a written exam, five years of Greek tax and insurance compliance, continuous residence and Greece as the centre of your life, with a fee of EUR 550. The golden visa needs no stay, but a passport does: an owner who spends a few weeks a year in Greece should not expect one.
Georgia asks for ten consecutive years of lawful residence and an exam in language, history and law. The investment permit can lead to an indefinite permit after five years; whether property-permit years count towards permanent residence is a question for a lawyer. Our citizenship guide has the detail.
Which priorities point to Greece, and which to Georgia?
| If you mainly want | Points to | Because |
|---|---|---|
| Schengen travel | Greece | 90 days in any 180 |
| A long permit that includes parents | Greece | 5 years at a time |
| The lowest entry cost | Georgia | About EUR 139,000 against EUR 425,000 |
| Nightly letting | Georgia | No condition on the permit |
| Low tax on rent | Georgia | 5% against up to 45% |
| Euro pricing | Greece | No currency gap for euro earners |
Other pairs: Georgia or Cyprus, Georgia or Montenegro and Georgia or Dubai.
Risks and exceptions
- Signing a Greek deed after mid-2027 unchecked. The announced 15% tax would add about EUR 49,000 on EUR 400,000.
- Letting a golden-visa home to tourists. EUR 50,000 fine and loss of the permit.
- Accepting a rebate or lease-back that lowers the real price. The minister said such side deals would be examined.
- Expecting a decision in two months. Files from 2024 were still pending in September 2026.
- Reading Georgia's floor as a price. The assessed value must exceed USD 150,000.
Frequently asked questions
What is the minimum Greek golden visa purchase?
EUR 400,000 for one home of at least 120 m² in most regions, EUR 800,000 in Attica, Thessaloniki, Mykonos, Santorini and islands of more than 3,100 people.
Has Greece raised transfer tax for foreign buyers?
Not yet. A 15% rate for non-EU individuals from 1 July 2027 was announced on 6 September 2026; we found no bill by 3 November 2026.
Must I live in Greece to keep the permit?
No, but naturalisation after seven years expects real, continuous residence.
Can my parents be included?
In Greece, yes, for the parents of both spouses. Georgia's property permit covers a spouse and children.
Sources
- Migration Code, Law 5038/2023, Art. 100 (as replaced by Law 5100/2024), Art. 95 and Art. 171, with Law 5275/2026, Art. 29, Hellenic Parliament, consolidated by Taxheaven (accessed 3 November 2026)
- Legal migration statistics, Annex B, September 2026 and January 2026, Ministry of Migration and Asylum (accessed 3 November 2026)
- Thessaloniki International Fair 2026 measures, Government of Greece, 6 September 2026, copy hosted by Euro2day (accessed 3 November 2026)
- Who pays the 15% transfer tax, Newmoney, 8 September 2026, and Greece 15% transfer tax for non-EU buyers, Katsouris Law Firm, updated 14 October 2026 (accessed 3 November 2026)
- Law 5246/2025, Art. 12; Law 4172/2013, Art. 40 and Art. 41; Law 4223/2013, Art. 4; Law 4446/2016, Art. 111, consolidated by Taxheaven (accessed 3 November 2026)
- Tax updates, KPMG Greece, 20 November 2025 (accessed 3 November 2026)
- Notary fees, Decision 111376/2011, Hellenic Cadastre fees, Decision 2/2026 (13 January 2026) and Decision 225563/2025 on Athens short lets, via Taxheaven (accessed 3 November 2026)
- Short-term lease restrictions to be extended, To Vima, 7 September 2026; Golden visa, rebates and short-term rentals, Greek City Times, 26 October 2026; Golden visa decision, Proto Thema, 13 November 2025 (accessed 3 November 2026)
- Naturalisation of foreigners, Mitos, Government of Greece, updated 1 October 2026, and Travel in the Schengen area, German Federal Foreign Office (accessed 3 November 2026)
- Bank of Greece: flat prices second quarter 2026, Forin, September 2026; Apartment prices in Greece, first quarter 2026, To Vima, 9 June 2026; Greece rental yields, Global Property Guide; Tourism revenues 2025, OT, 21 February 2026 (accessed 3 November 2026)
- Passenger traffic, September 2026, Athens International Airport, 6 October 2026 (accessed 3 November 2026)
- Galt & Taggart: Tbilisi Residential Real Estate, August 2026 (23 October 2026) and Batumi 2Q26 overview (14 August 2026); Geostat, foreign visitors in 2025, via 1TV (30 January 2026), and Residential Property Price Index, third quarter 2026 (23 October 2026) (accessed 2 November 2026)
- Law on the Legal Status of Aliens and Stateless Persons, Tax Code, Organic Law on Georgian Citizenship and Resolution No 507, Legislative Herald of Georgia (accessed 2 November 2026)
- Residence permits to 107,307 foreigners, GBC, 18 February 2026, and Official exchange rates, National Bank of Georgia, 3 November 2026 (accessed 3 November 2026)
Change log
- - Comparison published from Greek law, the Ministry of Migration and Asylum's permit statistics, the Greek government's September 2026 measures and Georgian law and market data.