What are the Requirements for the Startup Golden Visa?
To qualify, you need to acquire shares or equity in a startup in Greece, and you cannot hold more than 33 percent of a company’s total share capital or voting rights. Also, the startup needs to create at least two new jobs within one year of its creation and to keep these jobs for at least five years. If the investment is made with a Greek-established legal entity, the investor needs to be the sole owner of the company. Alternatively, if you make the investment with a foreign legal entity (from the UK, US, Canada, etc), up to three shareholders can be eligible for the Golden Visa. In these cases, each investor holds at least 33 percent of the company’s shares. Investors can also invest funds into venture capital frameworks, such as equity mutual funds, but for this, the minimum investment to apply for a Visa is 500,000 euros.
When Can I Apply for the Startup Golden Visa?
The program is set to launch on January 1, 2025. The eligible companies are in the national startup register, Elevate Greece. You can find the participating companies here.
How Long Does a Startup Golden Visa Last?
The initial Greek Startup Visa will be for one year, and then it can be renewed every two years as long as the investor still meets the program’s requirements.
Why Do The Startup Golden Visa Matter if I Want to Buy a Home in Greece?
Currently, if you are a non-EU resident, and want a Greek residence permit through the Golden Visa program, you need to invest either 400,000 or 800,000 Euros in a property in Greece (depending on where it is located). The new Startup Golden Visa gives you a chance to obtain a residence permit with an investment of 250,000 Euros. This time, it's not through the purchase of property but by investing in a startup. If you still want to own a home in Greece, you could even do both. You could buy a property you wish to live in or to rent out in Greece, regardless if it meets the Golden Visa minimums (400,000 or 800,000 Euros). Then, you could earn residency through the Startup Golden Visa.