Greece has introduced a new option within its Golden Visa framework, shifting part of the program’s focus away from property purchases and toward startup investment. The move reflects a broader effort to diversify how foreign capital enters the Greek economy, at a time when real estate-led residency programs face increasing public and political scrutiny across Europe.
To qualify under this option, applicants must direct their investment into a startup operating in Greece, rather than into residential property. By linking residency eligibility to business activity, the framework places greater emphasis on enterprise growth and economic participation alongside existing investment routes.
How the Startup Investment Route Works
Under the startup option, applicants must invest a minimum of €250,000 in a company registered on Elevate Greece, the national startup registry. Eligible companies may operate across a range of sectors, including real estate, finance, defense, and other approved industries, provided they meet the registry’s criteria.
Successful applicants receive a five-year residence permit, with renewals required every other year during that period. Renewal is conditional and depends on continued compliance with program requirements.
Investment Conditions and Ongoing Compliance
Unlike the traditional real estate Golden Visa, the startup route is not passive. The investment is tied to measurable economic activity.
To maintain residency status:
- The company must create at least two new jobs within its first year
- Those jobs must be maintained for a minimum of five years
- The investor may hold no more than 33% of the company’s equity or voting rights
These conditions are intended to ensure that the investment supports employment and broader economic participation rather than serving purely as a financial transaction.
Residency Timeline and Citizenship Eligibility
As with other Golden Visa pathways, long-term residency under the startup route may eventually lead to naturalization. After seven years of continuous legal residency, applicants may apply for Greek citizenship, subject to statutory requirements such as language proficiency and social integration.
Citizenship is not automatic and remains subject to approval under Greek nationality law.
Why Greece Is Introducing a Startup Route Now
Golden Visa programs across Europe have come under growing criticism, particularly those linked to residential property. Critics argue that real estate-based programs can distort housing markets, push prices higher, and limit availability for local residents.
By introducing a startup-focused option, Greece is shifting part of its residency by investment strategy toward job creation and productive economic activity. This approach aligns with wider European pressure to demonstrate clearer public benefit from investment migration schemes.
Political Pressure and the Wider Golden Visa Debate
Across the European Union, residency and citizenship by investment programs continue to attract political debate. Opponents question whether such programs create unequal immigration systems, while supporters argue they provide governments with targeted funding and economic stimulus.
Real estate-linked Golden Visas have faced the strongest opposition, with some countries choosing to scale back or eliminate those routes entirely. The introduction of a startup pathway allows Greece to respond to these concerns without dismantling its program.
Is Greece Ending the Real Estate Golden Visa
Despite speculation following the announcement of the startup investment option, Greece is not ending its real estate Golden Visa route. Government policy and legislative planning indicate that the startup pathway has been introduced as an additional qualifying investment within the existing Golden Visa framework, rather than as a replacement for property-based investment.
The real estate route remains operational and continues to sit alongside the new startup option as part of Greece’s broader residency-by-investment offering. While the government has adjusted thresholds and conditions in recent years in response to housing market pressures, there has been no official indication that real estate investment is being removed as a qualifying pathway.
Final Take
Greece’s move to add a startup investment option to its Golden Visa framework is less about reinventing the program and more about refining it for a changing global environment. As pressure builds across Europe to justify residency-by-investment schemes beyond real estate, Greece is signaling that capital tied to business activity and job creation will increasingly matter.
At the same time, the country has not walked away from property-based investment. Instead, it is keeping multiple doors open, allowing investors to choose between asset-backed certainty and business-driven participation. For globally mobile individuals, the takeaway is clear: Golden Visa programs are not disappearing, but they are becoming more selective in how they define “acceptable” investment.
