The Ministry of National Economy and Finance and the Ministry of Development have taken new measures to support Greek startups as part of shaping and implementing a new productive model for Greece.
One of the most significant initiatives announced by the Greek government concerns the granting of the Startup Visa. Specifically, as announced, following the model of the Golden Visa for real estate, from January 1, 2025, a residence permit will be granted to citizens of third countries who invest at least 250.000 euros in a Greek startup that is a member of the National Registry of Startups (Elevate Greece), with the condition of creating two job positions within the first year.
Currently, the Golden Visa is granted for a capital contribution of at least 400.000 euros to companies in stock market based or operating in Greece. Through the Startup Visa initiative, this program is being expanded, placing emphasis on investments in innovation.
At the same time, the incentive for the commercial exploitation of patents is being expanded. For example, there is currently a three-year tax exemption on related profits. With the new regulation, a 10% reduction in income tax will be introduced for an additional seven years after the end of the initial three-year period.
Another very important measure concerns the expansion of tax incentives for angel investors in startups registered with Elevate Greece. Currently, investors are eligible for a tax deduction of 50% on the capital they invest in startups listed in the National Registry of Startups, up to 300.000 euros. With the new regulation, the maximum limit is being increased to 900.000 euros.
Additionally, new cases of granting increased deduction rates from companies’ gross revenues are being introduced. Currently, the deduction stands at 200% for expenses related to scientific and technological research. The new deduction rates are as follows:
- 250% for collaboration projects with startups and/or research centers
- 300% for knowledge-intensive SMEs (with R&D expenses exceeding 20%)
- 315% for knowledge-intensive SMEs if their R&D expenses exceed the average of the corresponding expenses from the previous two years
Law Office Stathaki can help you apply for a Golden Visa investor’s residence permit and navigate this process with professional and to-the-point advice. Contact us today here.
