Highlights: Greece to issues Golden Visas to eligible entrepreneurs
- Kyriakos Mitsotakis, Greece's Prime Minister, announced to issue Golden visas to startup investors.
- Entrepreneurs who invest €250,000 in Greek startups can qualify for a five-year residence permit.
- The Residency by Investment Program of Greece also received a few changes implemented from September 1, 2024.
- In the first seven months of this year, around 4,734 Golden visa program applications were received, contributing over €1.2 billion to the economy.
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Greece Announces to grant Golden Visas to startup entrepreneurs
The Prime Minister of Greece announced that entrepreneurs who invest in Greek startups will be granted golden visas. They must make an investment of €250,000 to qualify for a five-year residence permit. The economic strategy initiated during the 88th Thessaloniki International Fair prompted the addition of startup investments to the Golden Visa program. However, the government has yet to announce more details of the recent announcement.
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New Changes to Greece Golden Visa Program
The Golden visa program, also known as the Residency by Investment Program of Greece, is a type of exchange program that issues residency to foreigners who make financial investments in Greece. New changes were announced to the program, which came into effect on September 1, 2024.
The changes that were made to the Golden Visa program are given below:
- The minimum investment will be €500,000 to €800,000 in Mykonos, Santorini, other Islands, and Thessaloniki, which have a population of over 3,100.
- Foreign investors must now pay €400,000 to purchase a property via this program.
- The two €250,000 real estate investment options provided earlier by the program, to convert commercial spaces to restore listed buildings or use them for residential purposes, will remain the same.
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