Yes, a property in Kefalonia can qualify for the Greek Golden Visa, but the island falls in the highest band: €800,000 in a single property. A plot can be part of the investment if you build on it, and a Golden Visa property cannot be let as a short-term rental.
This guide is general information, not legal or immigration advice. The rules changed in 2024 and are still being clarified by circulars, so confirm every point with a lawyer before you buy.
What is the Greek Golden Visa?
It is a residence permit for non-EU citizens who invest in Greek real estate. The rules are in Article 100 of the Migration Code (Law 5038/2023), as rewritten by Law 5100/2024.
The permit lasts five years and is renewed for equal periods for as long as you keep the property. There is no minimum stay in Greece: time abroad does not block renewal. The permit does not give the right to work in Greece.
How much do you need to invest in Kefalonia?
€800,000. Since 1 September 2024 there are three bands:
| Band | Where it applies |
|---|---|
| €800,000 | Attica, the Thessaloniki regional unit, Mykonos, Santorini, and islands with more than 3,100 residents |
| €400,000 | All other areas |
| €250,000 | Anywhere, but only for converting a non-residential building to a home, or restoring a listed building |
No official document names Kefalonia, but the rule is clear: the island had 36,064 permanent residents in the 2021 census, well over 3,100, so it falls in the €800,000 band. Ithaca, with 2,862 residents in the same census, is below the threshold; ask your lawyer to confirm the band for a specific property there.
What property qualifies?
The whole amount must go into one property. You cannot add up several smaller ones. A built property, or one with a building permit, needs at least 120 m² of main areas (storage and parking do not count towards the 120 m², although their price counts if they are bought in the same deed).
The price must be paid in full before you apply. A spouse or a relative up to the second degree may pay it. Co-ownership qualifies only between spouses or registered partners, or when each share reaches the threshold on its own.
Can you use a plot of land?
Yes, with conditions. The Ministry of Migration's 2024 circular says that the 120 m² minimum does not apply to unbuilt property without a building permit, and names plots as an example.
When you buy a plot and build on it under a construction contract, the Ministry's Circular 1/2026 (21 April 2026), as summarised by Greek law firms, counts the plot price plus the value of the construction contract. Once a building permit is issued, the finished building must meet both the price threshold and the 120 m² rule.
In practice, for Kefalonia this means: plot plus construction worth at least €800,000, and a house of at least 120 m² of main areas. Read our guides to buying land in Kefalonia and to inside vs outside the town plan before you choose the plot.
Can you rent out a Golden Visa property?
Not short-term. A Golden Visa property may not be let through short-term rental platforms or sublet; the Ministry's circular defines short-term as under 60 days. Long-term letting is allowed. Breaking the ban means the permit is revoked and a €50,000 fine.
The ban does not apply to properties bought under the old rules, before September 2024. If you plan holiday rentals, the Golden Visa route does not fit: see our guide to holiday rental rules in Kefalonia.
Who else does the permit cover?
The investor's family can get permits that expire together with the investor's:
- spouse or registered partner;
- unmarried children under 21;
- the parents and grandparents of both spouses or partners;
- adult children who cannot manage their own affairs and depend on the investor.
A child who turns 21 gets a three-year permit of their own.
How long does it take and what does it cost?
The authority must decide within two months of a complete application, and the Greek government's procedures register estimates 50 to 60 days. The fee for the main applicant is €2,000 for the permit plus €16 for the permit card.
On top of the property price come the usual purchase costs, starting with the 3.09% property transfer tax and, on PlotX, the 1% platform fee paid by the buyer. See the cost of buying land in Greece for the full list.
Frequently asked questions
Is the Golden Visa threshold in Kefalonia €400,000 or €800,000? €800,000. Islands with more than 3,100 residents fall in the highest band, and Kefalonia had 36,064 residents in the 2021 census.
Can I buy two cheaper properties to reach the threshold? No. The investment must be in a single property.
Does land count towards the Golden Visa? A plot counts when you build on it: the plot price plus the construction contract value, with a finished house of at least 120 m² of main areas.
Can I rent my Golden Visa house on Airbnb? No. Short-term rental is banned for properties bought under the current rules. Long-term rental is allowed.
Do I have to live in Greece? No. There is no minimum stay, but the permit does not give the right to work.
Sources
- Migration Code, Article 100 — taxheaven (in Greek)
- Ministry of Migration circular No. 9, September 2024 (in Greek)
- The Greek Golden Visa after the 2024–2026 overhaul — International Bar Association
- New Golden Visa rules — Varnavas law firm
- Golden Visa: initial issuance — mitos.gov.gr
- Migration Code, Article 95 (family members) — taxheaven (in Greek)
- 2021 census results — ELSTAT (in Greek)
- Cover photo: Assos, Kefalonia, Yannismarou, public domain, via Wikimedia Commons (cropped).
