New Residence Permit in Greece: Investing in Startups

New Residence Permit in Greece: Investing in Startups

As of January 1, 2025, Greece has implemented changes to its Golden Visa program, offering the opportunity to obtain a residence permit through investments in startups. This initiative aims to attract foreign investment into the country’s innovative sector and stimulate economic growth.

Minimum Investment Amount

To participate in the program, a minimum of €250,000 must be invested in a startup registered in the national startup registry Elevate Greece. This registry includes promising companies that receive support from the state.

Form of Investments

• Through a Greek legal entity: the investor can own 100% of the company’s shares.

• Through a foreign legal entity: up to three third-country nationals can obtain a residence permit, provided they each own at least 33% of the shares.

Job Creation

The invested company is required to create at least two new jobs within the first year after the investment and maintain them for five years.

Validity and Renewal of Residence Permit

• The residence permit is issued for a period of one year, with the possibility of renewal every two years, provided that all requirements are met.

• The investor must retain the company’s shares for at least five years. In case of their sale, it is necessary to reinvest the funds in another startup or another eligible asset within two months.

• If the initial investment is liquidated or restructured, a new investment must be made within two months to maintain resident status.

The program allows the investor to accompany family members, providing them with a residence permit.

The program does not provide the right to work for the residence permit holder.

This new option of the Golden Visa program makes Greece attractive to international investors, offering access to a European residence permit while supporting the development of innovative technologies and startups.

This publication has been prepared as a general guide and for information purposes only. It is not a substitution for professional advice. One must not rely on it without receiving independent advice based on the particular facts of his/her own case. No responsibility can be accepted by the authors or the publishers for any loss occasioned by acting or refraining from acting on the basis of this publication. This article is for informational purposes only. For further advice, please contact us at the contacts listed on the site.