Greece introduces new Golden Visa option: startup investment

Greece plans to grant residence permits to those investing in local startups, as revealed by Prime Minister Kyriakos Mitsotakis during the 88th International Fair in Thessaloniki. The minimum investment is supposed to be €250,000.

Author • Julia Loko

Investment programs expert

As the Prime Minister announced, Greece will offer residence permits to investors in local startups who invest at least €250,000. Further details of the initiative are still pending.

The Greek government also plans to raise the minimum wage by 14%, support entrepreneurs, and provide a three-year tax exemption for those who lease properties on long-term contracts instead of short-term rentals.

All new measures, along with the Golden Visa by start up investment, are part of the 45-step Economic and Social Measures Plan.

If implemented, the new plan will offer investors the opportunity to obtain a 5-year residence permit in Greece by investing €250,000—nearly half the amount required for investing in Greek real estate.

Greece Golden Visa

New regulations for obtaining a Golden Visa in Greece took effect on September 1st, 2024. With certain exceptions, the minimum investment in Greek real estate has increased to €800,000.

The €800,000 requirement applies to Greece’s most popular cities and regions, such as Attica and Thessaloniki, as well as to islands with populations exceeding 3,100. In other parts of Greece, a Golden Visa can still be obtained with a property investment starting at €400,000.

Studios and small homes no longer qualify for a residence permit. Under the new guidelines, investors must purchase a single property of at least 120 m².

The previous investment threshold of €250,000 will continue to apply for those buying real estate for renovation or converting industrial sites into residential properties.

5 benefits of a Greece Golden Visa

1. Visa-free travel. Residents of Greece enjoy freedom of movement within the Schengen countries. They are allowed to spend up to 90 days out of 180 there.

2. No residency requirement to maintain the permit. Investors are not obliged to live in Greece. But if they spend 183 days a year in the country, they are able to apply for Greek citizenship in seven years.

3. Pathway to permanent residency and citizenship. Investors can obtain citizenship in Greece if they:

have spent at least 183 days per year in the country for seven years;
demonstrated no criminal record;
passed a written exam on the Greek language, culture, history, geography, and governance.

Greece permits its citizens to hold multiple passports without requiring them to renounce their previous ones unless the laws of their first country demand it.

4. Permits extend to family members. Residency is granted to the investor’s family, including the spouse or registered partner, children, and parents.

5. Potential for high returns on real estate investments. Investors are only allowed to rent out their properties on long-term leases. The average yield on Greek properties is 3—5% per year.

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