Greece’s New Start-Up “Golden Visa” & Angel-Investor Incentives: What International Investors Need to Know

Executive summary

Greece has introduced a new residence permit for start-up investors (Type B.6) alongside strengthened angel-investor tax incentives, aiming to channel foreign capital into the country’s innovation ecosystem. From 1 January 2025, non-EU/EEA nationals may secure residency by investing €250,000 in a start-up registered with Elevate Greece, subject to job-creation and holding-period conditions. In parallel, the long-standing 50% income-tax deduction for angel investments has been broadened and, under the 2024 reform package, caps and eligible vehicles were expanded. 

The start-up investor residence permit (Type B.6)

Legal basis and policy context

• Enacted by Law 5162/2024, which amended the Greek Immigration Code (Law 5038/2023) by introducing Article 100A and the new Type B.6 residence category for start-up investors.

Core eligibility

• Minimum investment: €250,000 in an Elevate Greece-registered start-up (National Start-Up Registry). Investment may be made via a capital increase (shares) or via bonds issued in a bond loan of the start-up.

• Ownership cap: The investor’s equity/voting rights must not exceed 33% of the start-up.

• Job creation: The start-up must create at least 2 new jobs within the first year and maintain the total headcount (including those jobs) for five (5) years.

• Investment vehicle options:

  • Greek entity: residence may be granted to a non-EU individual holding 100% of the investing domestic company.

  • Foreign entity: residence may be granted to up to three non-EU individuals, provided each holds ≥33% of the investing entity.

• Funds origin: Capital must be transferred from abroad.

Permit terms, family, and work rights

• Initial duration: 1 year, renewable for 2-year periods if conditions remain satisfied. Absences from Greece do not prejudice renewal.

• Holding requirement: Shares must be retained for 5 years. If divested, the investor has 2 months to reinvest in another eligible start-up or other qualifying investments to preserve status.

• Family reunification: Family members may obtain dependent permits. No work rights are conferred by Type B.6 itself.

• Administrative penalties: €50,000 fine may apply for violations by both company and investor.

• Government/registry context: Elevate Greece is the official national start-up registry and platform.

Positioning vs. the traditional Golden Visa: This pathway complements (not replaces) existing real-estate and financial-asset routes, which have separately seen threshold and zoning changes since 2024.

Angel-investor tax incentives (updated framework)

Baseline incentive

• Income-tax deduction equal to 50% of the capital contributed by an individual angel investor to an eligible start-up (Elevate Greece registry). Contributions are executed via bank transfer and evidenced through prescribed documentation. Historically capped at €100,000 per start-up and €300,000 per year across up to three start-ups.

2024–2025 enhancements

• The 2024 reform package (Law 5162/2024) expanded eligible vehicles (e.g., closed-end VC mutual funds/A.K.E.S.) and raised overall investment ceilings referenced by policy trackers and professional summaries. KPMG and UNCTAD note the extension of the 50% deduction to broader instruments and an increase of the maximum eligible annual investment beyond the earlier €300,000 cap (with allocation rules among up to three targets). Detailed mechanics should be confirmed against implementing acts and the taxpayer’s profile.

Practice point: Always verify the current cap mechanics, carry-forward, and interaction with other personal-tax regimes (e.g., NHR, family-member contributions, controlled investments via holding companies) before year-end planning.

Practical structuring & compliance checklist

1. Target qualification (eligibility): Confirm the start-up’s active status on Elevate Greece prior to commitment; include a condition precedent in investment documents.

2. Ownership & governance: Draft shareholders’ agreements to respect the ≤33% cap, protect minority rights, and align with job-creation deliverables.

3. Job-creation covenants: Build KPIs, timelines, and reporting into the investment terms; provide remedies and step-in rights if the employer risks breaching the 2-jobs/5-years requirement.

4. Evidence of funds & AML: Ensure bank-transfer provenance and maintain a compliance binder (bank slips, BoD minutes, GEMI filings, bond subscription docs). (General compliance best practice; see also angel-incentive documentation frameworks.)

5. Permit lifecycle: Docket renewal windows (1-year initial; 2-year renewals), track share-holding period, and, upon exit, reinvest within 2 months to preserve status.

6. Family planning: Synchronize family-member applications and travel plans with the B.6 timetable.

7. Tax planning for angels: Model the 50% deduction impact, updated caps, and eligibility of A.K.E.S./MTF-listed instruments where relevant.

Timelines, fees, and administration

• Application fee: €2,500 for issuance/renewal of Type B.6.

• Processing posture: Applicants may file if legally present in Greece (any visa/status) with complete documentation.

Key risks and mitigations

• Operational under-delivery by the start-up (jobs not created/maintained) → use contractual triggers and monitoring; consider follow-on capital terms to support compliance.

• Cap-table drift above 33% (e.g., down rounds) → include anti-dilution and consent thresholds to preserve eligibility.

• Exit timing (5-year holding; 2-month reinvestment) → pre-arrange pipeline deals to avoid status lapses.

• Penalty exposure → internal compliance audits to mitigate €50,000 administrative fines.

How we can assist

Our Athens team advises sponsors, founders, family offices, and UHNWIs on:

• Structuring direct or SPV investments to satisfy Type B.6 criteria;

• Angel-incentive optimization, including interaction with personal tax regimes and cross-border considerations;

• Regulatory filings & due diligence (GEMI, Elevate Greece status, bond documentation); and

• Long-term residency strategy, renewals, and contingency planning.

This note reflects public information available as of November 3, 2025. For any specific transaction or immigration filing, please contact us for tailored advice based on the investor’s profile and the start-up’s status.