Greece’s Golden Visa 2025: Startup Investments Now Eligible

The Greek government has taken a bold step in its Golden Visa program by adding a startup investment pathway, offering foreign investors and entrepreneurs more opportunities to gain residency in the country. The initiative aligns with the government's strategy to attract productive investments and boost economic innovation.

Here's everything you need to know about this development and what it means for potential investors.

What Is Greece's Golden Visa Program?

Greece's Golden Visa program offers residency to non-EU nationals who invest in the country, traditionally through real estate. This program has significantly contributed to Greece's economy, attracting investors worldwide. Now, the government is expanding this initiative to include investments in startups, enhancing the program's versatility.

Key Details About the New Startup Investment Pathway

Announcement and Legislative Framework

Prime Minister Kyriakos Mitsotakis first hinted at the startup investment pathway during the Thessaloniki International Fair in September 2024. The new option was detailed in Greece’s Draft Budgetary Plan for 2025, submitted to the European Commission in November 2024.

Minimum Investment Requirements

To qualify for residency under this new pathway, investors must meet the following criteria:

• Investment Amount: A minimum of €250,000 in startups listed in the National Register of Startups (Elevate Greece).
• Equity Limitation: Investors must not hold more than 33% of the enterprise’s capital or voting rights.
• Job Creation: A minimum of two jobs must be created within the first year of the investment.
• Sustainability: The increased workforce must be maintained for at least five years post-investment.

Real Estate Investment Remains a Viable Option

Contrary to rumors suggesting the elimination of real estate options, the government confirmed in its budget document that these pathways will continue alongside the new startup initiative.

Alexander Varnavas of Varnavas Law highlighted the importance of real estate investments, stating that they play a critical role in Greece’s economic development. Recent amendments introduced in September 2024 adjusted thresholds for real estate investments:

• €800,000: Minimum investment for prime areas like Athens, Thessaloniki, Mykonos, and Santorini.
• €400,000: Investment threshold for other regions. See the full list of these regions in our guide, Golden Visa Program Changes in 2024.
• €250,000: For converting commercial properties into residential spaces or restoring listed buildings.

Legislative Process and Expected Implementation

The draft bill is set to undergo review by parliamentary committees before being debated and voted on in Greece’s plenary session. With the current government holding an absolute majority, the bill is expected to pass without significant changes.

Alexander Varnavas noted that the government aims to implement the startup option by the end of 2024. Entrepreneurs and startups are actively reviewing the draft bill to ensure seamless implementation.

Benefits of the Startup Investment Pathway

This new pathway offers several benefits:

• Diverse Investment Opportunities: Enables investors to support Greece's burgeoning startup ecosystem.
• Economic Growth: Encourages job creation and innovation within Greece.
• Lower Entry Barrier: At €250,000, the investment threshold is accessible compared to other European residency programs.

Conclusion

Greece’s decision to expand its Golden Visa program to include startup investments marks a significant shift toward fostering innovation and economic growth. By maintaining its real estate pathways and introducing this new option, the government ensures the program’s appeal to a broader range of investors.

As Greece prepares for the legislative approval and implementation of this option, potential investors should stay updated on the final provisions and act swiftly to capitalize on this opportunity.

FAQs - Frequently Asked Questions

1. What is the minimum investment required for Greece’s startup Golden Visa?‍

The minimum investment is €250,000 in startups registered with Elevate Greece.

2. Does the startup option replace real estate investments?‍

No, the startup option is an addition to the existing real estate pathways.

3. What are the key conditions for the startup pathway?‍

Investors must limit equity participation to 33%, create two jobs within the first year, and maintain this workforce for five years.

4. When will the startup pathway be implemented?‍

It is expected to be implemented by the end of 2024, pending parliamentary approval.

5. Are there regional differences in real estate investment thresholds?

‍Yes, prime locations require a minimum of €800,000, while other regions require €400,000 or €250,000 for specific projects, such as converting a commercial building to a residential one.