Is Greece's Golden Visa still available to Canadians in 2026?

Yes — Greece's Golden Visa is one of the last major European property-based residency programs still active. Unlike Portugal (property route closed October 2023) and Spain (program cancelled entirely April 2025), Greece has retained its Golden Visa for property purchases. The key change since 2023 is the tiered threshold system. The minimum investment is now €800,000 in the most sought-after markets: all of Attica (greater Athens), Thessaloniki, Mykonos, and Santorini. For most of the rest of Greece — including Crete, Rhodes, Corfu, the Cyclades (except Mykonos and Santorini), the Peloponnese, and mainland areas — the minimum is €400,000. Qualifying commercial-to-residential conversions and listed building restorations remain at €250,000 regardless of location. The Golden Visa provides a 5-year renewable residence permit in Greece, which grants access to the Schengen Zone for up to 90 days per 180-day period. After 7 years of continuous legal residency in Greece (with actual time spent there), you may apply for citizenship. For Canadians who want EU residency and own property at or above these thresholds, the Greek Golden Visa is one of the most accessible remaining options in Europe.

What are border area restrictions and how do I know if they apply to my property?

Greek law (originally Law 1892/1990, amended over time) restricts non-EU nationals from purchasing property in certain border zones — areas close to Greece's land borders with Albania, North Macedonia, Bulgaria, and Turkey, and certain sea-border zones near Turkey. These restrictions require non-EU buyers (which includes Canadians) to obtain a special purchase permit from the regional committee (epitropi) before the purchase can be notarized. The permit process takes approximately 2–4 months. Properties not in border zones proceed without this requirement. Most of Greece's popular tourist markets for Canadians — Athens, Thessaloniki, Crete, Corfu, Rhodes, the Cyclades (Mykonos, Santorini, Paros, Naxos), Lefkada, and much of the Peloponnese — are not in border zones. Properties in the Dodecanese islands (close to Turkey), the northeastern Aegean islands (Lesvos, Chios, Samos), and mainland border regions near Bulgaria and North Macedonia may be in restricted zones. Your Greek lawyer must confirm whether the specific property requires a border zone permit — this is a standard part of due diligence and your lawyer will know immediately.

How does the AFM work and how do I get one in Canada?

The AFM (Arithmos Forologikou Mitroou) is Greece's tax identification number — roughly equivalent to Portugal's NIF or Italy's codice fiscale. You cannot sign any Greek purchase contract, open a Greek bank account, or execute any legal transaction in Greece without one. Unlike Portugal's NIF (easily obtained at a consulate), the AFM must typically be obtained in person at a Greek Tax Authority (AADE) office in Greece, or through a Greek lawyer using a power of attorney issued by you. The power of attorney route is the most practical for Canadian buyers who are purchasing before a trip to Greece — your Greek lawyer obtains the AFM on your behalf, and you can then sign the purchase contract (and even attend the final deed by power of attorney if necessary). Processing a power-of-attorney AFM application takes approximately 1–2 weeks. If you are in Greece in person, you can obtain it at any AADE office within a day by appointment.

What is Greece's capital gains tax situation and what should Canadians expect?

Greece introduced a 15% capital gains tax on property sales in 2014, but immediately suspended it before it took effect. The suspension has been renewed every year since then and is currently in place through at least the end of 2026. During the suspension, most Greek property sellers pay no Greek capital gains tax on residential property sales. The tax code provision exists — it has simply never been enforced. The situation is unusual but well-established: Greek lawyers confirm the suspension is in effect before every transaction. What happens after 2026 is genuinely uncertain — the Greek government will need to either extend the suspension, allow the tax to come into effect, or repeal it. Canadians should not structure their investment around the suspension remaining indefinitely. From a Canadian tax perspective, regardless of what Greece does, you still report the capital gain on your Canadian T1 return. Since there is no Canada-Greece tax treaty and no Greek capital gains tax currently collected, there is no T2209 Foreign Tax Credit to claim against your Canadian liability — you simply pay the Canadian capital gains tax.

Is there a Canada-Greece tax treaty and how does this affect CPP/OAS?

There is no comprehensive income tax treaty between Canada and Greece. This is the most significant tax disadvantage of Greece compared to Portugal, Spain, Italy, or Panama for Canadian retirees. Without a treaty, CPP and OAS paid to non-residents are subject to the standard 25% Canadian withholding rate. Compare: Portugal charges 10%, Spain and Panama charge 15% under their treaties. On a combined CPP and OAS of $2,000/month, the difference between 10% and 25% withholding is $3,600/year — meaningful over a multi-year retirement. There is also a Greek 'alternative tax' regime (Article 5A of the Greek Income Tax Code) for retirees relocating to Greece: a flat 7% rate on all foreign-source income for qualifying retirees — the Elaia program. This may partially offset the lack of treaty relief by reducing Greek income tax on the foreign-source income, but the Canadian withholding at source remains at 25%. Canada has been expanding its treaty network, and a Canada-Greece treaty has been discussed — but as of March 2026, none is in force. If you are specifically motivated by Greece for retirement and the 25% withholding is a concern, structure your plan to minimize Canadian-source pension income, maximize TFSA assets (which have no withholding), and consult a cross-border tax specialist.

How complex is Greek property due diligence compared to other markets?

Greece has one of the more complex due diligence environments in Europe, and this is not an exaggeration. Several factors contribute: the national land registry (Ktimatologio) is still incomplete in some rural areas and outer islands — properties that predate the registry may have title documentation issues. Boundary disputes are relatively common, particularly for older properties and rural land, because historical surveys were less precise. Inheritance chains on properties held by Greek families across generations can be complex, sometimes involving heirs in the Greek diaspora who must consent to the sale. Building permits: Greece has a significant history of 'arbitrary buildings' (αυθαίρετα) — properties with additions or modifications built without permits. These can now often be regularized through a legalization process, but confirm with your lawyer that any arbitrary structures on your property have been legalized before purchasing. Given these complexities, thorough title research in Greece typically takes 4–8 weeks compared to 1–2 weeks in Portugal or Spain. Budget for this in your timeline. Your Greek lawyer should review the full title chain back at least 20 years, check the Ktimatologio (where the property is registered), verify the topographic survey, and confirm building permits and compliance.

What are the costs of buying property in Greece as a Canadian?

Greece's resale transfer tax is 3% of the objective (assessed) value, not the market price — and assessed values are typically significantly below market values in tourist areas. On a €400,000 property in Crete, the objective value might be €180,000, meaning the 3% FMA (Φόρος Μεταβίβασης Ακινήτων) is only €5,400 rather than €12,000. This makes Greece's effective transfer tax one of Europe's lowest. New construction has been subject to VAT suspension on primary residences — check the current status of the VAT suspension with your lawyer before any new-build purchase. Additional closing costs: notary fees (approximately 0.8–1.5% of objective value), land registry fees (0.5–0.65% of objective value), lawyer fees (1–2% of purchase price), and the engineer's certificate (€300–€1,000) required to confirm no planning violations. Annual ENFIA property tax is a significant ongoing cost to budget — it is calculated based on the AADE assessed value and ranges from approximately 0.1–1.15% of assessed value depending on property type and value. On a €400,000 property, ENFIA might run €500–€1,500/year. Rental income from Greek property for non-residents is taxed at 15–45% on a progressive scale (the lower end for modest income).

What are my CRA obligations as a Canadian who owns property in Greece?

Three main obligations. First, T1135 (Foreign Income Verification Statement) is required annually if the adjusted cost base of your Greek property exceeds CAD $100,000. File with your T1 return by April 30. Second, T776 (Statement of Real Estate Rentals) if you earn rental income from the Greek property. Report gross income in CAD, deduct eligible expenses, and note that without a Canada-Greece tax treaty, there is no preferential withholding rate on Greek rental income — you claim T2209 for Greek taxes actually paid on the rental income. Third, capital gains on sale. If the Greek capital gains tax suspension is still in effect at sale, no Greek tax is payable — meaning no T2209 Foreign Tax Credit to claim, and the full Canadian capital gains tax applies to your Greek gain. If Greece has reinstated its capital gains tax by your sale date, you can claim T2209 credit accordingly. Track your CAD-denominated cost base carefully — EUR/CAD movements create a currency gain or loss component in your Canadian calculation.

Is Greece's Golden Visa still available to Canadians in 2026?

Yes — Greece's Golden Visa is one of the last major European property-based residency programs still active. Unlike Portugal (property route closed October 2023) and Spain (program cancelled entirely April 2025), Greece has retained its Golden Visa for property purchases. The key change since 2023 is the tiered threshold system. The minimum investment is now €800,000 in the most sought-after markets: all of Attica (greater Athens), Thessaloniki, Mykonos, and Santorini. For most of the rest of Greece — including Crete, Rhodes, Corfu, the Cyclades (except Mykonos and Santorini), the Peloponnese, and mainland areas — the minimum is €400,000. Qualifying commercial-to-residential conversions and listed building restorations remain at €250,000 regardless of location. The Golden Visa provides a 5-year renewable residence permit in Greece, which grants access to the Schengen Zone for up to 90 days per 180-day period. After 7 years of continuous legal residency in Greece (with actual time spent there), you may apply for citizenship. For Canadians who want EU residency and own property at or above these thresholds, the Greek Golden Visa is one of the most accessible remaining options in Europe.

What are border area restrictions and how do I know if they apply to my property?

Greek law (originally Law 1892/1990, amended over time) restricts non-EU nationals from purchasing property in certain border zones — areas close to Greece's land borders with Albania, North Macedonia, Bulgaria, and Turkey, and certain sea-border zones near Turkey. These restrictions require non-EU buyers (which includes Canadians) to obtain a special purchase permit from the regional committee (epitropi) before the purchase can be notarized. The permit process takes approximately 2–4 months. Properties not in border zones proceed without this requirement. Most of Greece's popular tourist markets for Canadians — Athens, Thessaloniki, Crete, Corfu, Rhodes, the Cyclades (Mykonos, Santorini, Paros, Naxos), Lefkada, and much of the Peloponnese — are not in border zones. Properties in the Dodecanese islands (close to Turkey), the northeastern Aegean islands (Lesvos, Chios, Samos), and mainland border regions near Bulgaria and North Macedonia may be in restricted zones. Your Greek lawyer must confirm whether the specific property requires a border zone permit — this is a standard part of due diligence and your lawyer will know immediately.

How does the AFM work and how do I get one in Canada?

The AFM (Arithmos Forologikou Mitroou) is Greece's tax identification number — roughly equivalent to Portugal's NIF or Italy's codice fiscale. You cannot sign any Greek purchase contract, open a Greek bank account, or execute any legal transaction in Greece without one. Unlike Portugal's NIF (easily obtained at a consulate), the AFM must typically be obtained in person at a Greek Tax Authority (AADE) office in Greece, or through a Greek lawyer using a power of attorney issued by you. The power of attorney route is the most practical for Canadian buyers who are purchasing before a trip to Greece — your Greek lawyer obtains the AFM on your behalf, and you can then sign the purchase contract (and even attend the final deed by power of attorney if necessary). Processing a power-of-attorney AFM application takes approximately 1–2 weeks. If you are in Greece in person, you can obtain it at any AADE office within a day by appointment.

What is Greece's capital gains tax situation and what should Canadians expect?

Greece introduced a 15% capital gains tax on property sales in 2014, but immediately suspended it before it took effect. The suspension has been renewed every year since then and is currently in place through at least the end of 2026. During the suspension, most Greek property sellers pay no Greek capital gains tax on residential property sales. The tax code provision exists — it has simply never been enforced. The situation is unusual but well-established: Greek lawyers confirm the suspension is in effect before every transaction. What happens after 2026 is genuinely uncertain — the Greek government will need to either extend the suspension, allow the tax to come into effect, or repeal it. Canadians should not structure their investment around the suspension remaining indefinitely. From a Canadian tax perspective, regardless of what Greece does, you still report the capital gain on your Canadian T1 return. Since there is no Canada-Greece tax treaty and no Greek capital gains tax currently collected, there is no T2209 Foreign Tax Credit to claim against your Canadian liability — you simply pay the Canadian capital gains tax.

Is there a Canada-Greece tax treaty and how does this affect CPP/OAS?

There is no comprehensive income tax treaty between Canada and Greece. This is the most significant tax disadvantage of Greece compared to Portugal, Spain, Italy, or Panama for Canadian retirees. Without a treaty, CPP and OAS paid to non-residents are subject to the standard 25% Canadian withholding rate. Compare: Portugal charges 10%, Spain and Panama charge 15% under their treaties. On a combined CPP and OAS of $2,000/month, the difference between 10% and 25% withholding is $3,600/year — meaningful over a multi-year retirement. There is also a Greek 'alternative tax' regime (Article 5A of the Greek Income Tax Code) for retirees relocating to Greece: a flat 7% rate on all foreign-source income for qualifying retirees — the Elaia program. This may partially offset the lack of treaty relief by reducing Greek income tax on the foreign-source income, but the Canadian withholding at source remains at 25%. Canada has been expanding its treaty network, and a Canada-Greece treaty has been discussed — but as of March 2026, none is in force. If you are specifically motivated by Greece for retirement and the 25% withholding is a concern, structure your plan to minimize Canadian-source pension income, maximize TFSA assets (which have no withholding), and consult a cross-border tax specialist.

How complex is Greek property due diligence compared to other markets?

Greece has one of the more complex due diligence environments in Europe, and this is not an exaggeration. Several factors contribute: the national land registry (Ktimatologio) is still incomplete in some rural areas and outer islands — properties that predate the registry may have title documentation issues. Boundary disputes are relatively common, particularly for older properties and rural land, because historical surveys were less precise. Inheritance chains on properties held by Greek families across generations can be complex, sometimes involving heirs in the Greek diaspora who must consent to the sale. Building permits: Greece has a significant history of 'arbitrary buildings' (αυθαίρετα) — properties with additions or modifications built without permits. These can now often be regularized through a legalization process, but confirm with your lawyer that any arbitrary structures on your property have been legalized before purchasing. Given these complexities, thorough title research in Greece typically takes 4–8 weeks compared to 1–2 weeks in Portugal or Spain. Budget for this in your timeline. Your Greek lawyer should review the full title chain back at least 20 years, check the Ktimatologio (where the property is registered), verify the topographic survey, and confirm building permits and compliance.

What are the costs of buying property in Greece as a Canadian?

Greece's resale transfer tax is 3% of the objective (assessed) value, not the market price — and assessed values are typically significantly below market values in tourist areas. On a €400,000 property in Crete, the objective value might be €180,000, meaning the 3% FMA (Φόρος Μεταβίβασης Ακινήτων) is only €5,400 rather than €12,000. This makes Greece's effective transfer tax one of Europe's lowest. New construction has been subject to VAT suspension on primary residences — check the current status of the VAT suspension with your lawyer before any new-build purchase. Additional closing costs: notary fees (approximately 0.8–1.5% of objective value), land registry fees (0.5–0.65% of objective value), lawyer fees (1–2% of purchase price), and the engineer's certificate (€300–€1,000) required to confirm no planning violations. Annual ENFIA property tax is a significant ongoing cost to budget — it is calculated based on the AADE assessed value and ranges from approximately 0.1–1.15% of assessed value depending on property type and value. On a €400,000 property, ENFIA might run €500–€1,500/year. Rental income from Greek property for non-residents is taxed at 15–45% on a progressive scale (the lower end for modest income).

What are my CRA obligations as a Canadian who owns property in Greece?

Three main obligations. First, T1135 (Foreign Income Verification Statement) is required annually if the adjusted cost base of your Greek property exceeds CAD $100,000. File with your T1 return by April 30. Second, T776 (Statement of Real Estate Rentals) if you earn rental income from the Greek property. Report gross income in CAD, deduct eligible expenses, and note that without a Canada-Greece tax treaty, there is no preferential withholding rate on Greek rental income — you claim T2209 for Greek taxes actually paid on the rental income. Third, capital gains on sale. If the Greek capital gains tax suspension is still in effect at sale, no Greek tax is payable — meaning no T2209 Foreign Tax Credit to claim, and the full Canadian capital gains tax applies to your Greek gain. If Greece has reinstated its capital gains tax by your sale date, you can claim T2209 credit accordingly. Track your CAD-denominated cost base carefully — EUR/CAD movements create a currency gain or loss component in your Canadian calculation.

Can Canadians Buy Property in Greece? | Complete 2026 Answer

Reviewed on March 2026 by the Compass Abroad editorial team

Yes — Canadians can buy property in Greece with no general restrictions. An AFM (Greek tax number) is required before any transaction. Greece's Golden Visa — property investment for EU residency — is still active at €250K–€800K depending on zone, making it one of the last European property-residency programs. Important exceptions: border zone properties near Turkey and northern land borders require a special permit for non-EU buyers.

Greece has no comprehensive tax treaty with Canada, meaning CPP and OAS face the standard 25% withholding — higher than Portugal (10%), Spain (15%), or Panama (15%). Capital gains tax on property sales is suspended through end of 2026. Greek due diligence is more complex than most European markets — budget 4–8 weeks for title verification.

Key Takeaways

Yes — Greece imposes no general restrictions on Canadian property buyers. Full freehold title (free ownership) is available to Canadians without a trust or government approval.
Greece's Golden Visa is still active — unlike Portugal and Spain, Greece continues to offer EU residency through property investment. The minimum investment threshold varies by zone: €800,000 in Athens, Thessaloniki, Mykonos, and Santorini; €400,000 in most other areas; €250,000 for converted commercial-to-residential and listed buildings.
An AFM (Arithmos Forologikou Mitroou) — a Greek tax number — is required before any property transaction. It is obtainable at any Greek Tax Authority (AADE) office or via a Greek lawyer using power of attorney.
Border area restrictions apply: properties within certain zones near Greece's land and sea borders require a special permit from a regional authority for non-EU buyers. This affects some islands near Turkey and border regions near Bulgaria and North Macedonia — confirm the specific property's status with your lawyer.
Capital gains tax on property sales was suspended by Greek law from 2014 through at least the end of 2026. During the suspension, no capital gains tax applies on most residential property sales. The situation after 2026 is subject to Greek legislative action.
Greece does NOT have a comprehensive tax treaty with Canada. This means CPP and OAS paid to Greek-resident Canadians face the standard 25% Canadian withholding rate — significantly higher than Portugal (10%), Spain (15%), or Panama (15%).
Annual ENFIA (property tax) is based on the objective value of the property — typically below market — and ranges from approximately 0.1% to 1.15% of assessed value.
Greece's IBI transfer tax (3% of objective value) is one of Europe's lowest for resale property, though VAT at 24% applies to new construction.
Legal due diligence in Greece is more complex than other European markets — title chains can be incomplete, boundary disputes are common, and the national land registry (Ktimatologio) is still being completed in some areas.
The Greek Elaia (Qualified Retiree) program offers a flat 7% tax on foreign-source income for retirees relocating to Greece under specific conditions — similar in concept to Italy's southern Italy regime.

Canadian Ownership in Greece: Key Facts

Can Canadians buy?: YES — no general restrictions; border zone permit required in some areas(Greek property law)
AFM required?: Yes — before any contract or deed(Greek Tax Authority (AADE))
Golden Visa still active?: YES — €250K–€800K depending on zone(Greek Migration Code 2023 amendment)
Border area restrictions?: Yes — permit required near land/sea borders for non-EU buyers(Greek law 1892/1990 as amended)
Capital gains tax?: Suspended through end of 2026 on most residential sales(Greek Ministry of Finance)
Canada-Greece tax treaty?: No comprehensive treaty — standard 25% withholding on pensions(CRA Treaty list)
Transfer tax (FMA) on resale: 3% of objective value (assessed)(Greek law 1587/1950 as amended)
VAT on new construction: 24% IVA — suspended on new builds through 2024, check current status(Greek Tax Authority)
Annual ENFIA property tax: ~0.1–1.15% of AADE assessed value(ENFIA 2024 legislation)
7% Elaia retiree flat tax?: Available — flat 7% on foreign income for qualifying retirees relocating to Greece(Greek Income Tax Code art.5A)

Greece’s Golden Visa: Still Active for Canadians

Greece remains one of Europe’s last active property-based Golden Visa programs. Unlike Portugal (property route closed October 2023) and Spain (cancelled entirely April 2025), Greece has retained the program and adjusted it with tiered thresholds introduced in 2023.

Greece Golden Visa investment thresholds by zone (2026)
Zone	Minimum Investment	Notes
Athens (Attica Region)	€800,000	Includes all greater Athens municipalities — the most popular market
Thessaloniki	€800,000	Greece's second city — elevated threshold since 2023
Mykonos	€800,000	Island with high demand; elevated threshold since 2023
Santorini	€800,000	Volcanic island; elevated threshold since 2023
All other areas (islands, mainland)	€400,000	Crete, Rhodes, Corfu, Peloponnese, Halkidiki, etc.
Commercial-to-residential conversions	€250,000	Qualifying repurposed commercial buildings in any zone
Listed/heritage buildings	€250,000	Restoration of listed buildings in any zone
Multiple properties	€250,000 total	Combination of smaller properties totalling €250K+ in lower-threshold zones (complex rules — verify with lawyer)

The Golden Visa provides a 5-year renewable Greek residence permit, which grants Schengen access for travel throughout the EU. Actual time spent in Greece is not required to maintain the visa — you can hold the permit and visit Greece as you choose. This is one of Greece’s most attractive features compared to Portugal’s D7 (which requires periods of actual Greek residency to renew).

For a full comparison of European Golden Visa options for Canadians, see our Golden Visa comparison guide.

No Canada-Greece Tax Treaty: The 25% Withholding Problem

There is no comprehensive income tax treaty between Canada and Greece. Without a treaty, CPP and OAS paid to Canadians living in Greece are subject to 25% Canadian withholding — the default non-treaty rate.

On combined CPP + OAS of $2,000/month, 25% withholding costs $6,000/year — vs $2,400/year at Portugal’s 10% treaty rate. This is a real ongoing financial difference for retirees. Budget accordingly, and explore TFSA-maximization (no withholding on TFSA withdrawals) and corporate structure before making the move.

The Greek Buying Process for Canadians

Greek due diligence takes longer than Portugal or Spain. Budget 4–8 weeks from offer to closing for resale property in areas with a complete land registry. Rural properties and some island properties with incomplete Ktimatologio registration may take longer.

Engage a Greek lawyer: Non-negotiable in Greece. Your lawyer verifies the title chain, checks the Ktimatologio, confirms no border zone issues, reviews building permits, and protects your interests throughout.
Obtain an AFM: Via power of attorney through your Greek lawyer, or in person at an AADE office in Greece. Required before any contract.
Border zone check: Your lawyer confirms whether the specific property requires a border area permit. If it does, allow 2–4 months additional time.
Preliminary contract: A private agreement with deposit (typically 10%) setting out terms and conditions.
Full title search: 20-year title chain, Ktimatologio check, building permit verification, engineer’s certificate for planning compliance.
Final deed (Συμβόλαιο): Executed before a Greek notary (Συμβολαιογράφος). Transfer tax (FMA) paid at this stage. Your lawyer and the notary are both present.
Land registry registration: The notary submits for Ktimatologio registration. Your title is legally complete on registration.

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