Thursday, September 26, 2024 Greece recently announced a significant update to its Golden Visa program, expanding it to include investment in start-ups, marking a bold move that will likely impact not only Greece’s economy but also its tourism and travel industries. Prime Minister Kyriakos Mitsotakis unveiled this change during the annual Thessaloniki Trade Fair, an event known for important policy announcements. The new legislation offers foreign nationals the opportunity to secure a five-year residency permit by investing €250,000 in Greek start-ups.
This update diversifies Greece’s approach to attracting foreign investment, moving beyond the property market and tapping into the nation’s growing start-up ecosystem. While this new initiative has strong implications for the country’s business environment, its potential to reshape travel, especially for high-net-worth individuals and business travelers, is equally notable. The decision to expand the Golden Visa program is expected to impact travel by creating more pathways for foreign nationals to establish deeper connections with Greece.
Foreign investors, particularly those with business interests, now have an additional reason to travel to the country. By investing in Greek start-ups, they can secure long-term residency while supporting innovation and entrepreneurship. The visa, valid for five years, allows investors to live and work in Greece, further integrating the travel and business sectors.
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