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Updated: June 2026

Case study · Greece · Residence permit

How a commercial coworking space was convertedinto a Greece Golden Visa for €250,000

The reduced threshold for Greece Golden Visa at €250,000 exists, but not for any property - and it's easy to make a mistake here. Our client identified a commercial space used as a coworking facility and wanted to enter the program at the preferential rate. For this to work, the space had to be properly converted to residential use before application submission. We explain step-by-step how we completed the conversion and secured the residency status.

Sergey EvdokimovSergey EvdokimovManaging Partner, BRIDGESReading time9 min readVerificationReviewed by an expert

This case is based on a real matter. The name and certain identifying details have been changed to protect confidentiality.

BRIDGES client story - How a commercial coworking space was converted into a Greece Golden Visa for €250,000
Contents

Case at a glance

Situation, solution and outcome in seven lines

Client
Investor with commercial property
Objective
Greece Golden Visa at the reduced threshold
Program
Greece, Golden Visa (Residence Permit through real estate investment, pathway to permanent residency and EU citizenship)
Challenge
Commercial property does not directly grant residence permit
Solution
Commercial-to-residential conversion for €250,000
Action taken
Complete conversion BEFORE application submission
Outcome
Reduced threshold met, residence permit obtained

Client story

Client's story

Where they started

The client was considering a commercial space used as a coworking facility and wanted to obtain a Greece Golden Visa through it - preferably at the reduced threshold of €250,000 instead of the standard amounts required in premium zones. The logic was sound: why pay more if a preferential option exists.

Why the standard route did not work

But this is precisely where a common mistake occurs. The reduced threshold of €250,000 is available not for any property, but only for two specific cases: conversion of commercial space to residential or restoration of a protected building. Simply purchasing a commercial coworking space and obtaining a residence permit at the preferential rate is not possible - the program is fundamentally designed for residential property.

What BRIDGES had to solve

The key requirement for conversion is that work must be completed before application submission. In other words, one cannot apply for status with a promise to convert the space later: at the time of application, the property must already be converted to residential and comply with all requirements, including minimum square footage.

Why a standard answer would not do

The client came to BRIDGES to avoid stumbling on this point: to correctly use the reduced threshold through conversion, execute it according to regulations, and complete it before submission - rather than file an application that would be rejected due to the commercial status of the property.

I found a commercial coworking space and thought I would simply purchase it and obtain a residence permit at the reduced price of €250,000. Sergey explained that this wouldn't work: the preferential threshold applies only to commercial-to-residential conversion, and the renovation must be completed before, not after submission. The team carried out the entire conversion according to regulations, converted the space to residential, and only then did we apply. I obtained the residence permit at the reduced threshold. Without them, I would have invested and received a rejection.

Elena · InvestorThe name and certain identifying details have been changed to protect confidentiality.

What was at risk

What was at risk

The risk was concrete: invest in commercial coworking space expecting the reduced threshold and receive a rejection because the property is not residential. The preferential €250,000 is available only for conversion or restoration, and work must be completed BEFORE submission. An error in threshold calculation or incomplete conversion meant wasted time and potentially lost investment.

Eligibility for the reduced threshold - it does not apply to all properties;

  1. 01Property status: commercial space alone does not grant a residence permit;
  2. 02Requirement to complete conversion BEFORE application submission;
  3. 03Compliance of the converted property with requirements, including minimum square footage;
  4. 04The status itself if an application is submitted for a commercial property.

The logic of the solution

How the matter progressed: from checks to result

The chart is built from the facts of this matter and shows the logic of the work without decorative or unverified data.

  1. 01
    Stage 1

    Dispelled misconceptions about commercial property. First, we explained to the client that simply purchasing commercial coworking space and obtaining a residence permit at the reduced threshold was not possible. This immediately redirected him from an incorrect and costly approach toward a viable strategy—conversion.

  2. 02
    Stage 2

    Determined the conversion to residential pathway. We selected the only suitable method to utilize the reduced threshold for this property: converting commercial premises to residential. This transformed the coworking space into real estate qualifying under the program.

  3. 03
    Stage 3

    Planned conversion to meet requirements. We structured the property conversion to residential to comply with program requirements, including minimum square footage. The conversion had to not only take place but also render the property suitable for the Golden Visa.

  4. 04
    Stage 4

    Completed works PRIOR to application submission. Critical condition—conversion must be completed before submission, not promised for the future. We finalized the works and the property's conversion to residential status before filing for residence permit.

  5. 05
    Stage 5

    Applied for status as residential property. With conversion completed, we submitted the application for residential real estate meeting the reduced threshold. The commercial status, which would have disqualified the application, was removed by the time of submission.

Takeaway. Conclusion: The preferential €250,000 is available only for commercial to residential conversion or monument restoration, with works completed prior to submission. Commercial property grants a residence permit only following such conversion.

How we solved the matter

How we solved the matter

The work was split into verifiable stages so that every conclusion rested on documents.

  1. 01

    Stage 1

    Dispelled misconceptions about commercial property. First, we explained to the client that simply purchasing commercial coworking space and obtaining a residence permit at the reduced threshold was not possible. This immediately redirected him from an incorrect and costly approach toward a viable strategy—conversion.

  2. 02

    Stage 2

    Determined the conversion to residential pathway. We selected the only suitable method to utilize the reduced threshold for this property: converting commercial premises to residential. This transformed the coworking space into real estate qualifying under the program.

  3. 03

    Stage 3

    Planned conversion to meet requirements. We structured the property conversion to residential to comply with program requirements, including minimum square footage. The conversion had to not only take place but also render the property suitable for the Golden Visa.

  4. 04

    Stage 4

    Completed works PRIOR to application submission. Critical condition—conversion must be completed before submission, not promised for the future. We finalized the works and the property's conversion to residential status before filing for residence permit.

  5. 05

    Stage 5

    Applied for status as residential property. With conversion completed, we submitted the application for residential real estate meeting the reduced threshold. The commercial status, which would have disqualified the application, was removed by the time of submission.

  6. 06

    Stage 6

    Obtained residence permit grant at reduced threshold. The client received Greek residence permit by investing €250,000 instead of the higher threshold. The conversion, executed timely and according to regulations, legitimately unlocked the preferential option for him.

Expert comment

The reduced €250,000 threshold is a magnet that clients often misunderstand. They think: found something commercial at a discount—purchased it, obtained residence permit. That is incorrect. The preferential option exists only in two cases: commercial to residential conversion or restoration of protected buildings. And there is a strict requirement—works must be completed BEFORE application submission, not after. This client had coworking space, commercial premises. Simply purchasing it does not grant a residence permit. We pursued the only correct approach—executed commercial to residential conversion meeting all requirements, including square footage, completed it, and only then submitted. As a result, he entered at the reduced threshold legally. Had he acted alone, he would have invested in commercial property and faced rejection. With reduced thresholds, it is always the same: the devil is in the details.

Sergey Evdokimov, Managing Partner, BRIDGESSergey EvdokimovManaging Partner, BRIDGES

Outcome

What the client received

What was required
How we proceeded · Result
Utilize the €250,000 threshold
residential conversion pathway · preferential option available
Remove commercial status
property conversion to residential · property qualifies
Meet the requirement
completion of works prior to submission · residential property application
Obtain status
application submission for residential property · Greece residence permit for €250,000
Obtain status
application submission for residential property · Greece residence permit for €250,000

What was the situation: Client wished to obtain Greece's Golden Visa at the reduced threshold through commercial coworking space, which is directly impossible. What we did: Dispelled misconceptions about commercial property; identified the residential conversion pathway; planned it to meet requirements; completed works prior to submission; applied for residential property; obtained residence permit grant. What the client received: Greek residence permit at the reduced threshold of €250,000.

Practical takeaway

What matters in a similar situation

  • Conclusion: The preferential €250,000 is available only for commercial to residential conversion or monument restoration, with works completed prior to submission. Commercial property grants a residence permit only following such conversion.
  • Client entered at the reduced threshold legally—because we converted the commercial coworking space into qualifying residential property and completed the conversion prior to application submission.

FAQ

Questions people ask in a similar situation

01Can one obtain Greek residence permit through commercial real estate?

Directly—no. The program is designed for residential property. Commercial premises qualify for the reduced €250,000 threshold only through residential conversion completed prior to application submission.

02What does the reduced €250,000 threshold provide?

Eligibility for Golden Visa at a reduced threshold, available only in two cases: conversion of commercial space to residential or restoration of a protected building. Standard residential property thresholds are higher.

03By what deadline must the conversion be completed?

Prior to submitting the residence permit application. It is not permissible to apply for residence status based on a promise to convert the property—at the time of application, the object must already be converted to residential use and meet all requirements.

04What are the requirements for the property following conversion?

The converted property must comply with program conditions, including a minimum area of 120 square meters. The conversion must result in fully functional residential space, not merely a formal technicality.

05Does a coworking space qualify?

As commercial space alone—no. However, it can be converted to residential and through the reduced €250,000 threshold obtain residence permit eligibility, provided the work is completed before application submission.

06Have you identified a commercial property eligible for Greece's reduced threshold?

We will verify whether the property qualifies for the preferential €250,000 rate and conduct commercial-to-residential conversion in full compliance with regulations, completing all work before application submission—ensuring you enter Golden Visa at the reduced threshold lawfully.

About the author

Sergey Evdokimov

Author: Sergey Evdokimov

Managing Partner, BRIDGES

As Founder and Managing Partner of BRIDGES, I am responsible for the firm's strategy and personally lead its most complex client matters, including cases in which citizenship or residence decisions require a strategic view and consideration of capital.

I begin by defining the objective: the outcome the client needs, the facts that affect the choice, and the matters that require further review. I then establish the available directions, the sequence of work, and the key decision points.

Once the strategy has been agreed, I oversee the BRIDGES team's key decisions and remain involved at the stages that shape the course of the matter. The purpose is to give the client a clear rationale for the chosen direction and a precise understanding of the next steps.

Prepared on the basis of BRIDGES practice and reviewed by a subject-matter expert.

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Anna KovalevskayaHead of Legal, BRIDGES
Anna Kovalevskaya, Head of Legal, BRIDGES

Names and certain details have been changed to protect client confidentiality. The result described reflects one specific situation and is neither a public offer nor a guarantee of a similar outcome. Programme terms are stated as of 2026 and may change - please confirm current parameters with a BRIDGES consultant.