Invest €250,000 in a Greek Start-up and Get a Five-Year Residence — What Buyers and Investors Need to Know

Greece’s new start-up golden visa: a fresh alternative to property-based residency

If you follow the real estate Greece story, this is a development that will get investors talking. Greece now offers a five-year residence permit to non-EU investors who put at least €250,000 into a start-up registered on the national Elevate Greece registry. That sum matches the lower threshold used in parts of Greece’s property golden visa scheme, but it channels capital into business formation instead of bricks and mortar.

This article explains the legal framework, the practical rules you must meet, how the scheme differs from the long-standing property route, and what this change means for buyers, investors, and expats considering relocation to Greece. We take a frank look at the upsides and the risks so you can decide whether the start-up golden visa is an attractive way to gain Greek residency.

What the new scheme is and how it works

Greece introduced the start-up investment route under Law 5187/2024, and the program officially launched in November 2025, according to immigration advisers. Key parameters are straightforward and worth memorising:

• Minimum investment: €250,000 into a start-up listed on the Elevate Greece national registry.
• Residence permit length: five years. The visa is initially issued for one year, then can be renewed every two years for the duration of the five-year period, subject to compliance.
• Equity cap: 33%. Applicants cannot hold more than 33% of the start-up’s shares or voting rights.
• Jobs requirement: at least two new jobs created in the first year after the investment, and those positions must be maintained for a minimum of five years.
• Path to permanent citizenship: after seven years of legal and continuous residence (including extensions via other mechanisms), holders can apply for permanent citizenship.
• Application channel: you must apply in person at a Greek consulate; appointments can be booked online.

These points are confirmed by immigration advisers and law firms who have tracked the rollout. Fragomen and Global Citizen Solutions are among the firms that have documented the program’s launch and requirements.

Why the government created a start-up route — policy aims and context

The stated policy goal is clear: shift investment away from housing purchases and into business creation and jobs. Officials designed the scheme to ease pressure on the domestic property market by offering a viable non-real-estate path to residency.

The context matters. Greece already operates a popular property-based golden visa programme that has been blamed for contributing to rising housing prices in tourist hotspots. The property route features entry-level options like:

• €250,000 for converting or restoring certain commercial buildings into residential use.
• €400,000 for purchasing a property of at least 1,292 sq ft.
• €800,000 for a purchase in Athens, Thessaloniki, or islands with more than 3,100 residents.

Those thresholds make Greece one of the more affordable Schengen-area residency routes by property investment. However, Brussels raised concerns in 2022 about residency-by-investment schemes across the EU on issues such as security, money laundering, and tax evasion. In Greece, critics argued the real estate visa pushed buyer demand, reducing housing affordability for locals.

According to industry advisers, the start-up visa is an explicit attempt to rebalance where foreign capital lands — into Greek companies and employment rather than only into real estate assets.

Eligibility, practical conditions and compliance traps

The headline numbers are simple, but the operational requirements create a more complex compliance picture.

Eligibility and approval conditions you must plan for:

• The target company must be listed on the Elevate Greece national registry. Do not assume every small business qualifies; the registry is selective.
• Equity and control limits: you cannot be a majority owner. The 33% cap on shares or voting rights limits how much control an investor can hold, which affects exit strategy and governance influence.
• Employment test: the company must create at least two new jobs in year one and keep them for five years. This creates ongoing monitoring risk — losing those jobs could imperil your residency status.
• Investment mechanics: how the €250,000 is invested matters. Is it equity, convertible notes, or a loan? Legal agreements need clarity on valuation, dilution, and investor protections.
• Renewal requirements: the authorities will check compliance at renewal points (initial issue for one year, then renewal every two years). Keep thorough documentation of payroll, corporate minutes, and shareholder records.

From our interviews with immigration advisers, a few procedural notes stand out: the visa application must generally be filed in person at a Greek consulate, and some specialists caution the route is not yet pursued in large numbers. That dampens the immediate pressure on the property market but also means processes may be refined as more applicants enter the system.

How this could affect the real estate Greece market and property investors

Will this shift capital out of housing and cool price inflation? The short answer is: maybe, but not immediately.

Here’s why the impact will take time and why real estate remains a dominant residency route:

• The property golden visa is well established and remains attractive for investors who prefer tangible assets and simpler compliance. Buying real estate is a one-off transaction; the start-up route demands ongoing operational involvement and employment outcomes.
• The new scheme’s €250,000 floor is identical to the lower-entry property option, making it an apples-to-apples financial comparison in headline terms. But the non-liquid nature and risk profile of start-up equity may deter property-focused investors.
• Industry sources, including program specialists at Henley & Partners, say uptake so far is limited. When demand remains muted, the material effect on housing prices will be small.
• If the start-up route gains traction among tech-focused, venture-minded investors, it could redirect some capital to cities with active innovation ecosystems rather than coastal holiday hotspots. That could ease pressure in tourist-driven markets while concentrating economic benefits in urban centres.

For property investors, the takeaway is practical: the domestic property market will not change overnight. Real estate remains an attractive investment for those seeking residency combined with an asset to rent or resell. But government policy is signalling a preference for business investment that creates jobs, which could affect long-term property policy and taxation.

Practical checklist for investors and founders

If you’re seriously considering the start-up golden visa, treat it like a corporate investment with immigration consequences. Our checklist highlights the issues that matter in practice:

• Engage immigration counsel and corporate lawyers early. You must structure the investment to respect the 33% cap and investor protections.
• Verify the company’s registration on Elevate Greece before committing funds.