What could go wrong, and what we cannot promise

This is not advice

This page, like the rest of 7visas, is general and dated information from TPL S.A., the developer and seller of MVR 19. It does not replace a lawyer or tax adviser who works for you.

Risks of the programme itself

• An application can be refused. The Greek authorities decide every application; buying a property does not entitle you to a permit.
• It can take longer than the law says. The law sets two months from a complete file; in practice, of the applications filed in January 2026, about two in three had been decided by the end of August.
• Conditions must stay true. Losing the property, letting it short-term or letting insurance lapse can cost you the permit.
• No right to work. The investor permit does not allow work in Greece.
• Tax. Living in Greece for more than 183 days in a year can make you tax resident, with consequences for your worldwide income.

The rules can change

Greece raised its Golden Visa thresholds in 2023 and 2024 and introduced the change-of-use route in 2024. Rules can change again before you apply or while you hold a permit. Past changes sometimes protected buyers who had already committed; no one can promise that a future change will.

Resale and the once-only rule

The €250,000 route can be used once per property. A later non-EU buyer who wants a Golden Visa from the same property needs the standard threshold (in Patras, €400,000) and at least 120 m², which none of the MVR 19 residences reaches. Expect to sell at local market value, which may be well below what you paid. Read the selling guide.

Tax changes

• The announced 15% transfer tax. The government announced it in September 2026 and included it in the Draft State Budget 2027: from 1 July 2027, a 15% transfer tax (15.45% with the municipal surcharge) on homes bought by individuals who are tax residents outside the EU. It is not law yet, and how it would treat converted property is not known. On €250,000 it would come to €38,625.
• VAT. The suspension of VAT on new buildings runs to 31 December 2026; an extension is planned but not law. Whether VAT applies to the MVR 19 sales at all awaits a ruling from the tax authority.

Risks of a project still being converted

• The permitting act is not issued. Until the act changing the building’s use is issued, the residences cannot support a Golden Visa application. It is estimated for the first quarter of 2027, and the authorities set the pace.
• The legal use must be proven. The route depends on the building’s use on 5 April 2024 having been non-residential. That evidence and independent counsel’s opinion are still in preparation.
• Delays. Permits, works and registration can each take longer than estimated.
• Concept figures. Areas, rooms and layouts come from the concept design and may change in the final design.
• The storage rooms and the roof garden depend on a new horizontal-property deed that is not yet signed.
• The lift is in the concept design and still to be confirmed.
• The whole building is also on offer. TPL S.A. offers the building as a whole to developers and investors until the first residence is sold individually. If it were sold that way, the offer of individual residences would end.

The reservation pre-payment

A reservation requires a pre-payment of 10% of the price, paid to TPL S.A. before the permitting act exists. It is part of the price and is refunded in full if the change-of-use permitting act is not issued. Every other case, including delays, a sale of the whole building or the seller’s insolvency, is governed by the written reservation agreement: there is no escrow account or bank guarantee. Have your lawyer read the agreement before you pay anything.

Our interest

We are the developer and seller of MVR 19, and we benefit if you buy. Weigh everything on this site with that in mind, and check what matters with official sources and your own lawyer.

Not a financial product

The residences are real property offered for sale. They are not securities, a collective investment scheme or an investment product, and no return, rent or resale value is promised.

Dates and plans

Every future date on this site is an estimate or a target, and specifications describe the design intent. Both can change.