Greece has introduced a new option within its Golden Visa framework, keeping the minimum investment at €250,000 ($293,000), while shifting the focus away from property and toward startup investment.
To qualify under this route, applicants must invest in a startup listed on Elevate Greece, the country’s national registry. Eligible sectors include real estate, defense, and finance, among others.
Terms, renewals, and requirements of Greece’s Golden Visa program
Successful applicants receive a five-year residence permit, with renewals required every other year during that period, provided the program’s conditions continue to be met.
The rules set business performance targets and ownership limits to ensure a measurable economic impact. For instance, each startup must create at least two new jobs in its first year and maintain them for five years, while investors are restricted to holding no more than 33% of the company’s equity or voting rights.
Golden visa holders may apply for Greek citizenship after seven years of continuous legal residency as long as they meet the country’s language and integration requirements. If approved, citizenship also grants the right to remain in Greece permanently.
Why Golden Visa schemes face growing criticism
Golden Visa programs have long been controversial, with critics arguing that they create an uneven immigration system. One common concern is that participants often face less stringent residency and language requirements than other immigrants.
Another point of debate is whether these programs truly benefit the broader economy. Golden Visa models tied to real estate, in particular, have been linked to housing market pressure, with opponents warning they can distort local markets and push prices beyond what many residents can afford. This concern contributed to Spain’s decision to end its real estate Golden Visa program.
Political pressure has also been rising across Europe, where residency- and citizenship-by-investment programs are coming under increasing scrutiny. Lawmakers and policymakers are questioning whether access to European residency or nationality should be treated primarily as a financial transaction.
Supporters say funding can serve national priorities
Supporters argue that Golden Visa programs can generate substantial government revenue, sometimes directed toward urgent national priorities.
One example is Nauru, which recently launched a citizenship-by-investment program to help fund the relocation of its population to higher ground in response to the climate crisis.
Greece adds startup route to Golden Visa program without ending real estate
While Greece already has an established Golden Visa program, the new pathway stands out by channeling investment toward startups rather than property—a move widely seen as a response to public and political concerns surrounding real estate-focused models.
According to Global Citizen Solutions, there had been reports suggesting Greece might eventually phase out the real estate route in favor of startup investment. However, the government clarified that the startup option is being added alongside existing investment choices rather than as a replacement.
