In September 2024, Greek Prime Minister Kyriakos Mitsotakis announced the introduction of a new bill that will change the rules of the Greek Golden Visa starting 1 January 2025 at the Thessaloniki International Fair. This new option allows investors to qualify by funding startups.
The Ministry of National Economy and Finance added more details to start-up investment option to the Draft Budgetary Plan, which was submitted to the European Commission in November 2024.
Greece Golden Visa New Startup Option
This new option aims to diversify investments and shift focus from the real estate market, which has contributed to rising housing costs. Under the proposed framework, five-year residence permits can be granted to international investors who contribute at least €250,000 to Greek startups.
According to the new additions made to the bill, investors must meet three main requirements to ensure they qualify for the residence permit and that it is renewable. These include:
- The investor’s shares or voting rights in the startup cannot exceed 33%.
- The enterprise must create at least two new jobs within the first year of the investment.
- These jobs must be maintained for at least five years after the investment.
The move aligns Greece with countries like Portugal and Spain, which have adjusted their Golden Visa programs to encourage investments in more productive sectors rather than real estate. The initiative shows Greece’s efforts to attract innovative foreign capital while addressing housing market challenges.
Although the new bill comes after speculation that Greece will remove the real estate option from the Greece Golden Visa, the government made it clear that the startup investment option was to be added to the existing investment options.
To find out more about the Greece Golden Visa
New Real Estate Investment Thresholds
Greece had already made new rules for Greece Golden Visa real estate investment option in September 2024,
Tier 1 | €800,000
- Applicable in high-demand areas like Attica, Thessaloniki, Mykonos, Santorini, and islands with populations over 3,100.
- Designed to attract premium investors to Greece’s most sought-after locations.
Tier 2 | €400,000
- It covers all other regions of Greece, offering a more accessible entry point.
- Aims to promote investments in less populated and broader areas, fostering balanced economic growth.
Investments must be made in a single property of at least 120 square meters.
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