Under the updated rules, investors—whether individuals or corporate entities—must provide proof that the start-up they are investing in is listed in the National Register of Startups at the time the investment is made. They are also required to submit detailed information on the securities they acquire, including shares or bonds, the timing and value of the acquisition, their percentage of ownership and voting rights, and evidence that these securities are retained until the necessary certificates are issued.
If the investment is executed through stock-exchange mechanisms, additional confirmations from intermediaries and from the start-up itself must be provided. The new framework places significant emphasis on job creation, stipulating that each start-up receiving such investment must create at least two new positions within one year. Proof of this requirement must be submitted through the national “Ergani” employment system or through a formal declaration signed by the company’s legal representative.
Where investments are made through legal entities, further documentation is required, including certificates verifying the company’s legal status and operations, details of the beneficial owner, and the composition of the Board of Directors. The decision also introduces limits on the number of Golden Visa residence permits that can be issued depending on the size of the investment, with foreign legal entities eligible for up to three residence permits for investments of €1.5 million or more.
In addition, the Greek authorities have established a five-year monitoring mechanism to ensure that investments are maintained over time. This process is managed by the Ministry of Development’s Directorate of Foreign Direct Investments, which must promptly inform the Ministry of Migration of any changes. Should an investment be liquidated or the start-up declared bankrupt, investors are obligated to reinvest within two months in order to keep their Golden Visa status.
