Hidden Costs of the Greek Golden Visa: Taxes, Notary Fees, and Pitfalls
You've budgeted €400,000 for your Golden Visa property. But here's what nobody tells you upfront: You'll actually need €430,000–€450,000 to complete the purchase—plus another €2,000–€5,000 per year in ongoing costs.
Greek property transactions come with a labyrinth of fees, taxes, and charges that catch foreign investors off guard. From the 3.09% transfer tax to the mysterious ENFIA (annual property tax), these "hidden" costs can add 10–15% to your budget.
This guide exposes every fee, tax, and pitfall so you can budget accurately and avoid nasty surprises.
Meta Description: Beyond the property price: discover all hidden costs of the Greek Golden Visa including property tax (ENFIA), notary fees, lawyer costs, ongoing expenses, and tax pitfalls that can cost you thousands.
The Real Cost: What €400,000 Actually Means
| Cost Category | €400,000 Property | €800,000 Property |
|---|---|---|
| Property purchase | €400,000 | €800,000 |
| One-Time Fees (Purchase) | ||
| Property transfer tax (3.09%) | €12,360 | €24,720 |
| Notary fees (1–1.5%) | €4,000–€6,000 | €8,000–€12,000 |
| Lawyer fees (1–2%) | €4,000–€8,000 | €8,000–€16,000 |
| Land registry fees | €300–€500 | €400–€600 |
| Energy certificate (PEA) | €100–€200 | €150–€300 |
| Topographic survey (if needed) | €500–€1,000 | €800–€1,500 |
| Golden Visa Fees | ||
| Visa application fee | €2,000 | €2,000 |
| Medical insurance (annual) | €500–€1,000 | €500–€1,000 |
| Document apostilles | €200–€500 | €200–€500 |
| Translation services | €100–€300 | €100–€300 |
| Total Upfront Cost | €423,560–€430,860 | €844,870–€859,420 |
| % Above Property Price | +5.9%–+7.7% | +5.6%–+7.4% |
Bottom Line: Budget an extra €25,000–€60,000 beyond the property price.
Breakdown: One-Time Costs (During Purchase)
1. Property Transfer Tax: 3.09% (Non-Negotiable)
What: Tax on ownership transfer
Rate: 3.09% of declared property value
Paid to: Greek tax office (via your lawyer)
When: Within 30 days of notary signing
Example:
- €400,000 property → €12,360 tax
- €600,000 property → €18,540 tax
- €800,000 property → €24,720 tax
Pitfall: Some sellers try to "undervalue" the property on paper to reduce this tax. Don't do it. The Greek tax office has valuation tables, and if they catch undervaluation, you'll face:
- Fines (up to 100% of the unpaid tax)
- Delayed Golden Visa processing
- Potential criminal charges
Pro Tip: Always declare the true sale price. It's not worth the risk.
2. Notary Fees: 1–1.5%
What: Public notary service for deed transfer
Rate: 1–1.5% of property value (varies by notary)
Typical Cost:
- €400,000 property → €4,000–€6,000
- €800,000 property → €8,000–€12,000
What You're Paying For:
- Reading the deed (yes, they read the entire document aloud—can take 40 minutes)
- Verifying seller's identity and ownership
- Registering the deed with the state
- Providing certified copies
Pitfall: You cannot negotiate notary fees—they're set by the notaries' association. However, you can shop around for slightly lower rates (some notaries charge 1% instead of 1.5%).
Pro Tip: Ask your lawyer to find a notary on the lower end of the fee range.
3. Lawyer Fees: 1–2% (Worth Every Euro)
What: Legal representation throughout the purchase
Rate: 1–2% of property value
Typical Cost:
- €400,000 property → €4,000–€8,000
- €800,000 property → €8,000–€16,000
What Your Lawyer Does:
- ✅ Title search & due diligence
- ✅ Contract drafting/review
- ✅ Notary representation
- ✅ Tax office coordination
- ✅ Land registry filing
- ✅ Golden Visa application
Pitfall: Trying to save money by skipping the lawyer. This is the #1 mistake foreign buyers make. Greek property law is complex, and undetected issues can:
- Block your Golden Visa
- Cost you €50,000+ in legal fees later
- Result in losing the property entirely
Pro Tip: Budget the full 2% for a top-tier lawyer. The €4,000 difference between a cheap lawyer and an excellent one is nothing compared to the risk.
4. Land Registry Fees: €300–€600
What: Official government registration of your ownership
Cost: Fixed fees based on property type and location
Timeline: Paid at registration (after notary signing)
Pitfall: Some lawyers forget to follow up on registry confirmation. Insist on seeing the official registry certificate with your name on it. Without this, you're not the legal owner.
5. Energy Performance Certificate (PEA): €100–€300
What: Mandatory energy efficiency rating (like the US Energy Star)
Who Pays: Usually the seller, but confirm in your contract
Valid For: 10 years
Pitfall: If the seller doesn't provide a valid PEA, the sale cannot proceed. Make sure the preliminary contract requires the seller to obtain this before the notary appointment.
6. Topographic Survey: €500–€1,500 (Sometimes Required)
What: Official diagram showing property boundaries
When Needed:
- If property boundaries are unclear
- If the land registry record is outdated
- For land purchases (always required)
Pitfall: This can delay closing by 4–6 weeks. Ask your lawyer to check if a current topographic diagram exists before signing the preliminary contract.
Breakdown: Golden Visa-Specific Costs
7. Visa Application Fee: €2,000
What: Government processing fee for residency permit
Cost:
- €2,000 (main applicant)
- €150 per additional family member (spouse, children, parents)
Example:
- You + spouse + 2 children = €2,000 + (3 × €150) = €2,450
Pitfall: This fee is non-refundable even if your application is rejected. Make sure your property and documents are 100% compliant before applying.
8. Medical Insurance: €500–€1,000/year
What: Health coverage valid in Greece (€30,000+ minimum coverage)
Providers:
- International insurers (Cigna, Allianz, AXA)
- Greek insurance companies (Eurolife, Generali Greece)
Pitfall: Some cheap policies don't meet the €30,000 coverage requirement. Get written confirmation that your policy qualifies for Golden Visa purposes.
Pro Tip: After 5 years of residency, you can apply for Greek public health (IKA), which costs only €300–€500/year.
9. Document Apostilles: €200–€500
What: International certification of your home country documents
Documents Needing Apostilles:
- Birth certificate
- Marriage certificate (if spouse included)
- Criminal background check
- Divorce decree (if applicable)
Cost Per Document:
- US: $15–$25 per document (via Secretary of State)
- UK: £30 per document
- Canada: CAD $50 per document
- EU countries: €10–€50 per document
Pitfall: Apostille processing can take 4–8 weeks in some countries. Start this early or you'll delay your visa by months.
10. Translation Services: €100–€300
What: Certified Greek translations of foreign documents
Where: Greek-certified translators (your lawyer can recommend)
Documents Needing Translation:
- Birth certificates
- Marriage certificates
- Criminal background checks
- Divorce decrees
Pitfall: Only Greek-certified translators are accepted. Don't use Google Translate or unofficial translators—your application will be rejected.
Ongoing Annual Costs (After Purchase)
11. ENFIA (Annual Property Tax): €500–€5,000+
What: Unified Property Ownership Tax (Ενιαίος Φόρος Ιδιοκτησίας Ακινήτων)
How It's Calculated:
- Property size (sqm)
- Property age
- Location (zone)
- Objective value (government-assessed value)
Typical ENFIA Costs:
| Property Type | Annual ENFIA |
|---|---|
| 80 sqm apartment (Athens suburbs) | €800–€1,500 |
| 120 sqm apartment (Athens center) | €1,500–€3,000 |
| 200 sqm villa (Mykonos) | €3,000–€8,000 |
| 300 sqm mansion (Santorini) | €5,000–€15,000+ |
Payment:
- Due by December 31 each year
- Can be split into 5 installments
Pitfall: ENFIA increased by 15–30% in 2024 for luxury properties. Ask your lawyer to estimate ENFIA before buying. Some buyers are shocked by €5,000+ annual bills on €800,000 properties.
Pro Tip: Use the Greek tax office's ENFIA calculator at gsis.gr to estimate your tax (you'll need the property's objective value).
12. Utilities: €50–€200/month
What: Electricity, water, internet, trash collection
Monthly Costs:
- Electricity (ΔΕΗ/PPC): €30–€120 (depends on usage, AC in summer spikes this)
- Water (ΕΥΔΑΠ): €10–€30
- Internet: €20–€40
- Trash/sewage: €5–€15
Annual Total: €600–€2,400
Pitfall: If you leave the property vacant, you still pay standing charges (minimum monthly fees). Budget €30–€50/month even if the property is empty.
13. Building Management Fees: €50–€300/month (Condos Only)
What: Maintenance of common areas in apartment buildings
Covers:
- Elevator maintenance
- Cleaning of hallways/lobby
- Concierge (if luxury building)
- Repairs to shared infrastructure
Typical Costs:
- Standard apartment building: €50–€100/month
- Luxury/new building: €150–€300/month
Annual Total: €600–€3,600
Pitfall: These fees can increase if the building needs major repairs (e.g., elevator replacement). Check the building's maintenance history before buying.
14. Property Insurance: €200–€800/year
What: Fire, earthquake, liability coverage
Not Mandatory: But highly recommended (Greece is earthquake-prone)
Typical Premiums:
- €400,000 apartment: €200–€400/year
- €800,000 villa: €500–€800/year
Pitfall: Standard policies often exclude earthquake damage. In Greece, you need a specific earthquake rider (adds 20–40% to the premium).
15. Short-Term Rental License: €200–€1,500 (If Airbnb-ing)
What: Legal permit to operate short-term rentals
Cost: Varies by municipality
Renewal: Annual
Pitfall: As of 2025, Athens and Mykonos have restricted new short-term rental licenses in saturated zones. Check availability before buying if rental income is your goal.
Tax Pitfalls That Can Cost You Thousands
Pitfall #1: Triggering Greek Tax Residency
What Triggers It: Spending 183+ days/year in Greece
Consequence: Your worldwide income becomes taxable in Greece
Greek Income Tax Rates:
- 9% (up to €10,000)
- 22% (€10,001–€20,000)
- 28% (€20,001–€30,000)
- 36% (€30,001–€40,000)
- 44% (€40,001+)
How to Avoid: Track your days in Greece carefully. If you're close to 183 days, leave before hitting the threshold.
Pro Tip: Some countries (e.g., UAE, Portugal NHR) offer zero-tax residency. If you're a digital nomad, consider maintaining tax residency there instead of Greece.
Pitfall #2: Capital Gains Tax on Sale (15%)
What: Tax on profit when you sell the property
Rate: 15% of the gain
Exemption: If you held the property 5+ years and it's your primary residence
Example:
- Bought for €400,000
- Sold for €500,000
- Gain: €100,000
- Tax: €15,000
How to Minimize: Hold for 5+ years and establish it as your primary residence (spend some time living there).
Pitfall #3: Rental Income Tax (15–45%)
What: Tax on rental income from your property
Rates:
- Up to €12,000/year: 15%
- €12,001–€35,000: 35%
- €35,001+: 45%
Deductions Allowed:
- Property management fees
- Repairs and maintenance
- ENFIA (property tax)
- Depreciation
Pitfall: Many foreign landlords don't know they can deduct ENFIA and maintenance. Hire a Greek accountant to maximize deductions.
Cost of Accountant: €500–€1,000/year
Pitfall #4: VAT on New Properties (24%)
What: Value-Added Tax on properties sold by developers
When It Applies: If you buy a new property (built within last 5 years) directly from a developer
Example:
- Developer sells new apartment for €400,000
- VAT: 24% × €400,000 = €96,000
- Total cost: €496,000
How to Avoid:
- Buy resale properties (no VAT, only 3.09% transfer tax)
- Or budget an extra 24% if buying new
Pro Tip: Some developers advertise "€400,000 + VAT." Others include VAT in the price. Always clarify which applies.
Complete Cost Summary: €400,000 Property (10-Year Ownership)
| Cost | One-Time | Annual | 10-Year Total |
|---|---|---|---|
| Property purchase | €400,000 | — | €400,000 |
| Transfer tax (3.09%) | €12,360 | — | €12,360 |
| Notary fees (1.25%) | €5,000 | — | €5,000 |
| Lawyer fees (1.5%) | €6,000 | — | €6,000 |
| Land registry | €400 | — | €400 |
| Energy certificate | €150 | — | €150 |
| Golden Visa fee | €2,000 | — | €2,000 |
| Medical insurance | €800 | €800 | €8,800 |
| ENFIA (property tax) | — | €1,200 | €12,000 |
| Utilities | — | €1,200 | €12,000 |
| Building fees (condo) | — | €1,200 | €12,000 |
| Property insurance | — | €300 | €3,000 |
| Total Cost (10 Years) | €426,710 | €4,700 | €473,710 |
True Cost of Ownership: €473,710 over 10 years = €47,371/year
Subtract rental income (if any) to calculate net cost.
How to Minimize Hidden Costs
✅ 1. Negotiate Seller-Paid Fees
Ask the seller to cover:
- Energy certificate (PEA)
- Topographic survey
- Outstanding ENFIA (if any)
Leverage: In a buyer's market, sellers often agree to cover €1,000–€2,000 in fees.
✅ 2. Buy Resale (Not New Construction)
- Resale: 3.09% transfer tax
- New from developer: 24% VAT
Savings: ~20% of property value
✅ 3. Choose Lower ENFIA Zones
ENFIA is 30–50% higher in Athens Center, Mykonos, Santorini. Buy in Thessaloniki suburbs or Peloponnese for lower annual taxes.
✅ 4. Bundle Family Members in One Visa Application
- Main applicant: €2,000
- Each additional: €150
Tip: Include all family members (spouse, kids, parents) in the initial application rather than adding them later (separate €150 fees).
✅ 5. Use a Greek Accountant for Rental Income
Proper deductions can save you €1,000–€3,000/year in taxes.
Cost: €500–€1,000/year
Savings: €1,000–€3,000/year
Net Benefit: €0–€2,000/year
Final Thoughts
The Greek Golden Visa is still one of Europe's best residency programs—but only if you budget for the full cost. The €400,000 property price is just the starting point:
- Upfront: Add €25,000–€60,000
- Annual: Budget €2,000–€5,000+
Don't let hidden costs derail your Golden Visa dreams. Plan ahead, hire excellent professionals (lawyer, accountant), and you'll avoid the pitfalls that catch unprepared buyers.