The Greek Migration Code (Law 5038/2023, A’ 81) has been updated with the introduction of Article 100A, by virtue of art. 44 of Law 5162/2024, published in the Gov. Gazette on 05-12-2024, aimed at encouraging foreign investment in Greek startups. This new provision introduces the type “B.6” residence permit for third-country nationals willing to invest in Greece’s start-up ecosystem, supporting the country’s economic growth and tech innovation.
Eligibility and Investment Requirements
The Start-Up Visa program requires a minimum investment of €250,000 into an eligible Greek start-up, either through a capital increase or by acquiring company bonds. start-up should be registered under the national start-up registry, Elevate Greece which currently features 893 cutting-edge companies in technology, sustainability, and life sciences.
Key Conditions for Obtaining and Maintaining the Visa:
To qualify for and maintain the Start-Up Visa the following conditions should be met:
- Investors may own up to 33% of the startup’s shares or voting rights.
- The start-up must create a minimum of two new jobs within the first year of the investment.
- These job positions must be maintained for at least five years after the investment.
Investors can invest directly or through a Greek or foreign legal entity, offering flexibility in structuring the investment.
Residency Terms and Renewal
The Start-Up Visa initially provides a one-year residence permit, which can be renewed for two years period as long as the investment is retained, and eligibility criteria are met. Importantly, periods of absence from Greece do not affect the renewal permit, giving investors the freedom to travel without risking their residency status.
Application Process & Fees
Applications for the Start-Up Visa require a €2,500 fee, payable to the Elevate Greece registry.
Obligations to Retain Investment
Investors must keep their shares for a minimum of five years. If they sell their shares after this period, they can retain their residence permit by reinvesting in another eligible start-up or making alternative qualifying investments within two months. In cases of bankruptcy or restructuring, there is a two-month window for reallocating investments to maintain residency.
This flexibility ensures that investors -and their family members- retain their residency status while contributing to Greece’s innovation ecosystem.
The Start-Up Visa offers a unique pathway to European residency for global entrepreneurs, blending economic impact with the opportunity to join Greece’s thriving start-up community.
Our specialized team, led by Senior Associate Vasileios Tsintzos, along with Associates Sofia Kournouti and Alexia Karakitsou, is ready to guide you throughout the entire process—from your initial application to compliance with ongoing residency requirements.
For more information or to begin the process, contact us at goldenvisa@machas-partners.com.
