The government is set to implement a new scheme in 2025 that will separate the Greek Golden Visa Program from real estate investments. This initiative aims to redirect focus from property acquisitions to promoting startup entrepreneurship.
The Greek government aims to redirect investor capital towards more productive sectors, moving away from real estate investments that have previously contributed to housing market challenges, such as increased rental prices.
This year, the Greek Golden Visa program is expected to set a new record, with investments surpassing €3 billion. In 2023, foreign capital inflows reached over €2.54 billion, a significant rise from €1.3 billion in 2022, with 8.516 applications submitted and 1.802 approvals issued.
A new tax bill from the Ministry of Finance proposes changes to the Golden Visa framework. Starting January 1, 2025, eligibility for the Greek Golden Visa will require investments in Greek startups instead of real estate.
New Requirements for Golden Visa Investors
Under the proposed tax bill, the Greek Golden Visa program will have new criteria for both the issuance and renewal of residence permits. These requirements include:
1. Equity Participation: Investors must acquire shares, stakes, or equity in a Greek enterprise, with their participation capped at 33% of the company’s capital or voting rights.
2. Job Creation: The invested enterprise must generate at least two new jobs within the first year after the investment.
3. Job Maintenance: The company is required to maintain this increased workforce for a minimum of five years following the investment.
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.
