The latest circular specifically concerning the permanent residence permit for investors (“Golden Visa”) based on the purchase of real estate is:
Circular No. 9, ref. no. 240076/S.9/25-09-2024
Ministry of Migration & Asylum – Directorate of Migration Policy
Subject: “Provision of guidelines regarding the implementation of the provisions of Article 100 of Law 5038/2023, as amended by Article 64 of Law 5100/2024, … with regard to investments in real estate and the granting of a permanent investor residence permit”
Ministry of Migration and Asylum
What this means in practice, especially for Crete
The circular applies nationwide; there is no separate circular for Crete. However, Crete explicitly falls under the category of islands with a population of more than 3,100 inhabitants, therefore:
Minimum investment value (typical purchase of a residence): €800,000
For:
- Region of Attica
- Regional Unit of Thessaloniki
- Regional Units of Mykonos & Thira
- All islands with a population of more than 3,100 (therefore including Crete)
Ministry of Migration and Asylum
Other areas of the country: minimum price €400,000
Ministry of Migration and Asylum
The investment must concern one (1) single property, with a minimum surface of 120 sq.m. of main living areas (unless you fall under a special investment category).
Ministry of Migration and Asylum
There are special categories with a threshold of €250,000 (nationwide, thus also in Crete), e.g.:
- Properties whose main spaces are converted into residences (with the change of use completed after 5.4.2024 and before the application)
Ministry of Migration and Asylum - Industrial buildings converted into residences
- Listed / to-be-restored buildings
Ministry of Migration and Asylum
A prohibition on short-term leasing (Airbnb, etc.) is introduced for properties acquired for Golden Visa purposes (new Article 100 para. 7A), with sanctions involving revocation/non-renewal of the permit and fines.
The circular contains an extensive section on transitional provisions (10% deposits, old thresholds of €250,000/€500,000, deadlines 31.7.2023, 30.4.2024, 31.8.2024 etc.), which is useful if you are examining older cases or “locked-in” purchase prices.
More recent but not a circular: JMD 214926/2025
Following this circular, Joint Ministerial Decision (JMD) 214926/2025 (11-11-2025) was issued, which further specifies the required documentation for the Golden Visa and, for example, allows the residence permit to be issued on the basis of submission of proof of filing of the registration application or a lawyer’s certificate, while the formal proof of registration can be submitted at the time of renewal.