Prime Minister of Greece Kyriakos Mitsotakis announced the expansion of the Golden Visa program, now including the possibility of investing in startups. This announcement was made at the 88th International Fair in Thessaloniki and is part of the country's comprehensive economic strategy.
What has changed
The new investment option will allow foreign investors to obtain a five-year residence permit in Greece by investing at least €250,000 in Greek startups. Although the government has not yet provided detailed information about this option, it is expected to become an essential part of the country’s economic growth and innovation development.
Expert opinion
Christos T. Vardikos of the company Vardikos & Vardikos commented on the innovation: “The startup investment option demonstrates Greece’s commitment to developing innovative projects and attracting international specialists. It opens new opportunities for tech-savvy investors looking to engage with Greece’s rapidly growing startup ecosystem.”
Broad economic plan
The expansion of the Golden Visa program aligns with Mitsotakis' broader economic plan, which includes 45 measures to stimulate economic growth. This plan includes raising pensions, increasing the minimum wage, and supporting entrepreneurship. Investments in startups will become a vital element of this plan, bringing fresh capital and expertise to Greece’s tech sector.
Context of changes
Since September 1, 2024, new investment requirements for the Golden Visa program have come into effect. The minimum investment amount for real estate has been increased to €800,000 and applies to prestigious regions such as Attica, Thessaloniki, and popular islands with populations of at least 3,100 people. However, two investment options starting at €250,000 remain: converting commercial real estate into residential or renovating buildings that are architectural monuments.
Expected details
According to Vardikos, the Greek government is expected to clarify in the coming days the conditions under which commercial property converted into residential use can meet the €250,000 threshold. Rumor has it that such buildings must have been vacant for the last five years to qualify for this opportunity.
Conclusion
The new option in the Golden Visa program provides investors with additional opportunities to obtain residence permits in Greece while promoting the development of innovative projects and attracting international talent. This strategic decision aims to strengthen the country’s economic position and drive technological progress.