The Greek government recently announced a significant expansion of the Golden Visa program, adding the possibility of obtaining a residence permit through investing in start-ups. This move comes as part of a broader strategy to strengthen entrepreneurship, innovation and the competitiveness of the Greek economy, allowing non-EU investors to obtain the right to reside in Greece through this new investment category. At the same time, it attempts to decouple the Golden Visa from real estate investments, which have contributed to the housing crisis and rising rent prices.
The existing Golden Visa program
Until now, the Golden Visa program in Greece has focused mainly on investments in the real estate sector. In order for an investor from a country outside the European Union to obtain a residence permit in Greece, they were required to invest at least €500,000 in real estate. This program has proven to be highly successful, attracting significant foreign capital to the country and contributing to the development of the real estate market, mainly in urban areas and tourist centers.
However, the Greek government recognized the need to broaden the range of investment options in order to attract other types of investment, especially in sectors that have potential for long-term economic growth and job creation.
Valid investments for the Golden Visa
With this new expansion, the Golden Visa program will now also include investments in start-ups, this gives the opportunity for investors to strengthen Greek start-ups and obtain a residence permit in Greece. This development reflects the country’s strategy to emerge as a center of innovation and entrepreneurship in the Mediterranean and throughout Europe.
According to the recent announcement, from January 1st, 2025, prospective investors will now have the opportunity to obtain a Golden Visa not only by investing in real estate, but also in emerging and innovative Greek businesses. The minimum required investment is €250,000 in start-ups registered with Elevate Greece. Alternatively, investors can choose to direct funds to venture capital frameworks, such as equity mutual funds, if they are willing to invest more than €500,000.
Qualifying for a Golden Visa
To qualify for a Golden Visa through investment in start-ups, foreign nationals must acquire shares or capital in a start-up, with the investor’s participation not exceeding 33% of the total share capital or voting rights of the company. In addition, the start-up must create at least two new jobs within one year of its establishment and maintain these jobs for at least five years.
Ακολουθήστε μας στο Google News και μάθετε πρώτοι όλες τις ειδήσεις!
