Greece has recently rolled out a significant update to its Golden Visa program to attract investment from innovation-driven individuals. The face of the program was real estate; now there are options for a startup investment, with a view to strengthening the entrepreneurial and tech ecosystem in Greece and driving global capital investments.
A New €250,000 Option to Golden Visa through Startup Investments
Under the updated rules, non-EU investors are eligible to apply for a Greek Golden Visa by investing at least €250,000 in a startup registered on the national Elevate Greece platform. These could take the form of equity stakes, contributions to capital, or covered bonds of eligible startup enterprises.
Yet the program deliberately opens to truly significant roles, instead of offering total control. Investors are restricted to owning not more than 33% of the shares of stocks or voting rights, thereby allowing their founders to keep operational space untouched.
Development of Employment and Economic Results
In contrast to passive investment schemes, this path gives a good deal of impetus to job creation. In order to be deemed eligible, a start-up needs to generate a minimum of two new jobs within the first year of receiving the initial investment and at no particular time during the following five years. By laying these conditions, a steady benefit is provided to the local workforce and the prosperity of the Greek nation.
Emigrations and Long-Term Potential
If the investment and employment conditions are met, the successful candidate will be granted a five-year residence permit, renewable every two years. Applicants who have lived in Greece legally for seven years may apply for Greek citizenship if they meet the requirements of integration and show evidence of Greek language proficiency.
What It Means for Global Investors
With the expansion, the Golden visa has ceased to be just another real estate avenue for residency. It has started being an avenue for real economic engagement within Europe for entrepreneurs, venture investors, and people.
If you are hunting for Greece for its Golden Visa program or various other global immigration options, Abhinav Immigration Services is available to guide your course so that, at every step of your immigration journey, you may make an informed and concrete decision.