An IMGW News Report
Greece has announced plans to expand its Golden Visa Programme to attract international entrepreneurs. The programme will offer five-year residency permits in exchange for a €250,000 investment in Greek startups. Prime Minister Kyriakos Mitsotakis unveiled this new initiative, part of the country’s broader economic strategy, at the 88th Thessaloniki International Fair.
In addition to these changes, the government is considering further adjustments to the Golden Visa scheme. Prime Minister Mitsotakis stated, “What we are discussing with the finance minister is a further increase in the threshold for golden visa investments, and it will concern all areas where rents are high. It can go to €800,000.” These potential changes reflect the government’s efforts to manage rising property prices in key regions like Thessaloniki, Mykonos, and Santorini.
Despite the focus on higher property investment thresholds, the government still allows for two €250,000 real estate options: converting commercial properties into residential units or restoring listed buildings.
The Golden Visa Programme has already contributed over €1.2 billion to Greece’s economy in 2024, representing approximately 0.27% of the country’s GDP based on the 2023 estimate of $479 billion. However, these figures are expected to rise as nearly 30,000 applications remain pending, with further details on startup investment and real estate options still to be clarified. According to the latest Greek government forecasts, the economy is projected to grow by 2.2% in 2024, accelerate to 2.5% in 2025, and slightly taper to 2.3% in 2026.
