Additional Investment Pathway for Greece’s Golden Visa
In an effort to diversify its Golden Visa offerings, Greece plans to introduce a new investment pathway focused on the startup sector in the coming year. While the most sought-after option in the Golden Visa program has been purchasing properties in Greece to obtain residency, this expansion will allow individuals who invest in startups to also qualify for the Golden Visa.
To secure a Greek Golden Visa through the new startup investment pathway, foreign investors must adhere to specific requirements, including:
- A minimum investment of €250,000 in startups listed on the National Register of Startups .
- A maximum equity stake of 33% in the company’s capital or voting rights.
- The creation of at least two jobs within the first year of investment.
- Sustaining the employed workforce for a minimum of five years .
This shift comes as the interest in Greece’s Golden Visa Program remains robust, with foreign investments expected to exceed €3 billion this year, up from €2.54 billion in 2023. A total of 8,516 applications were submitted last year, with 1,802 approved, indicating sustained high demand.
This startup investment option still requires parliamentary approval, but it is anticipated to commence in early 2025 once it receives the green light.
Spain’s Shifting Golden Visa Landscape
While Greece is expanding its investment options, Spain plans to phase out its Golden Visa Program, particularly targeting the real estate investment route. The Spanish Congress of Deputies has approved a bill to eliminate this option by January 2025, aiming to address the housing crisis. Prime Minister Pedro Sanchez has stated that “housing should be a constitutional right rather than a speculative venture.”
However, following a veto from the Spanish Senate on the bill aimed at abolishing the Golden Visa Program, the future of this initiative remains uncertain.
Sources:
Arta Desku, “New Changes to Greece Golden Visa From January 2025”, Schengen News, November 11, 2024
Source: Bleona Restelica, “From New Travel Rules to Golden Visas & Schengen Expansion: Key Changes Coming to EU in 2025,” Schengen News, December 10, 2024
