Located in Southeastern Europe along the Mediterranean Sea, Greece is an attractive destination for investors seeking Greece residency by investment due to its rich cultural heritage, dynamic economy, and myriad business opportunities. As a gateway between Europe and Asia, Greece offers political and economic stability and a business-friendly environment that encourages growth and investment. Over the years, Greece has established itself as a promising option for investors looking to make it their second home and tap into diverse business opportunities.
The Greece residency by investment Program grants residency to non-EU nationals, allowing investors and their families to reside and travel freely across the Schengen Area. With one of the most affordable entry points among European residency programs, Greece offers a unique blend of modern living and rich history. The right to live comes with public healthcare and education benefits as well. Greece Investment Visa Requirements stipulate investing in Greek real estate worth €500,000 in core areas and €250,000 in other areas.
In this article, we will delve into Greece’s investment landscape and explain why this is an ideal time to invest in the country and secure residency through its Greece Golden Visa Investment program.
Promising Investment Opportunities in Greece
Startup ecosystem gaining momentum
Greece’s startup ecosystem is experiencing rapid growth, driven by its strategic location, rich heritage in science and technology, and advanced infrastructure. From Athens to Thessaloniki, startups in sectors such as AI, blockchain, energy, and transportation are drawing increasing interest from local and international investors.
Backed by government support, a robust network of incubators and accelerators, and a highly skilled talent pool, Greece’s startup scene is poised for substantial expansion, positioning the country as an emerging force in the global innovation landscape. The Greek startup ecosystem has witnessed an impressive transformation in the last six years. A report by Found.ation and EIT Digital indicates[1] that venture capital (VC) funding soared from less than €50 million in 2018 to a peak of €670 million in 2021, showcasing remarkable growth in the investment trajectory.
The Greek government has played a crucial role in creating a supportive environment for startups through various key initiatives. Among the most impactful are tax incentives for angel investors and the creation of the National Startup Registry, which has reduced investment risks and encouraged greater financial participation from private investors.
Additional legislative reforms promoting innovation include income tax exemptions for startups using internationally recognized patents and significant subsidies for new small and medium-sized enterprises. Therefore, a Greece Residency by Investment would be an ideal option to invest in the country’s startup ecosystem.
Transforming Traditional Tourism
With more than 16,000 kilometers of coastline, more than 6,000 islands and islets, and a well-established tourism industry, Greece presents a prime investment opportunity in the Tourism sector. The country is one of the top global tourism destinations for sun and beach holidays and provides attractive propositions for year-round themed holidays.
The competitive advantages of Greece, such as its rich cultural heritage, natural beauty, and geographical variety, have been attracting significant tourism investments in recent years, thus strengthening Greece’s image as an ideal destination for holidays and tourism-related investments.
Over the next years, Greece is poised[2] to make significant investments in the tourism industry, focused on transforming the traditional “sun & beach” tourist product into several higher-value, more focused products, centered across several key areas:
- Thematic Sun & Beach Tourism: Enhancing traditional beach holidays with themes like wellness, romance, and luxury.
- Nautical Tourism: Expanding cruise liner attractions and yachting/sailing options.
- City Break Tourism: Promoting short stays in major cities, primarily Athens and Thessaloniki.
- Cultural and Religious Tourism: Upgrading historical, heritage, and religious sites to attract visitors.
- Meetings and Incentives (MICE) Tourism: Positioning Greece as a prime location for conferences and business events.
- Sports Tourism: Promoting athletic activities, such as golf and training camps, to attract tourists interested in sports. This helps develop new tourism destinations, appeal to high-net-worth individuals (HNWIs), and reduce seasonality.
- Integrated Resorts: Developing new holiday housing projects in existing and emerging destinations, leveraging legislation that facilitates integrated resorts and residency permits for non-EU real estate investors.
The upgrading of the tourist product is supported by initiatives such as the Greek state and the Greek National Tourism Organization. Therefore, obtaining a Greece Residency by Investment can provide investors massive business opportunities and lucrative profits.
Retail tech: Remarkable room to grow
Despite progress in the past few years, Greece still has significant room to grow in its digitization journey. The country ranks 22nd in digitization among the EU-27, as measured by the Digital Macroeconomic Index[3]. The economic sectors that would benefit most from increased digital commerce maturity are retail and hospitality. Assuming the right levers are pulled, Greece could increase the gross value added (GVA) of the retail and hospitality sectors by more than 20 percent each, approximately €1.6 billion and €3 billion, respectively.
There is a large potential for creating digital marketplaces for local and international goods, supporting brands to establish online sales channels.
Investors can penetrate the market with technologies that improve delivery times and reduce costs, and solutions for streamlining inventory management and order fulfillment. There are also opportunities to establish companies for customer behavior analytics, which can help retailers understand consumer behavior, preferences, and trends, as well as technologies that offer tailored product recommendations and personalized marketing. Given these promising opportunities in the retail tech sector, investors pursuing a Greece Residency by Investment can capitalize on the vast business potential available.
Artificial intelligence tools
Artificial Intelligence (AI), a leading innovation of the 4th Industrial Revolution, is rapidly becoming a critical technology and a key driver of business competitiveness, while also enhancing public sector services. Greek businesses are increasingly aware of the need to swiftly adapt to technological advancements and sustainable practices to boost their competitiveness and long-term viability. However, few investments are yet in place. It is expected that Generative AI could increase Greece’s GDP by 6% in ten years[4] with a potential of €10 to €12 billion.
Investors looking to obtain a Greece Residency by Investment have great potential to establish their businesses in the AI sector in Greece, due to the developed tech ecosystem. The country has a growing pool of tech talent, with universities like the National Technical University of Athens and the University of Thessaloniki graduating skilled workforce in computer science and related fields.
Agricultural transformation
The agricultural sector in Greece remains an important sector of economic activity and employment, with exports of agricultural products accounting for one-third of total exports in Greece[5]. Agriculture contributes 4.1 percent of GDP and is characterized by small farms and low capital investment.
Investors’ role in this process can be essential since they can provide know-how and market access to Greek producers to maximize their value-added and competitiveness in the European markets.
There is a large potential for establishing companies that can upgrade the farmer’s supply chain to ensure efficiency and develop innovative end products around high-value crops, such as olives, saffron, pistachios, and honey. There are also wide opportunities in marketing and sales capabilities to penetrate developed markets. Combining local production and know-how with such investment can generate high returns for investors interested in pursuing strategic investment within this specialty sector. With these promising opportunities in the agricultural sector, investors seeking a Greece Residency by Investment can take advantage of the crucial business potential it offers.
Renewable Energy: Key player in the energy mix
The ample availability of renewable energy potential (wind, hydro, biomass, geothermal, solar & solar thermal) combined with ongoing large-scale infrastructure projects shows that Greece will be a key player in the formulation of the EU energy mix and will provide significant investment opportunities in all energy industries[6].
The energy sector in Greece is poised to grow significantly in the coming years, driven by several factors, mainly the required optimization of the energy mix, which consists of the reduction of fossil-fuel-generated electricity and increased contribution from renewable energy solutions. Main investment opportunities are in privatizing state asses, building new infrastructure in natural gas transmissions, renewable energy projects, and international tenders for hydrocarbon, therefore, investors seeking a Greece Residency by Investment can benefit from this potential.
Greece Investment Visa Requirements
To qualify for a Greece Golden Visa Investment, an applicant must be a non-EU/EEA country citizen, at least 18 years of age, have a clean criminal record, have medical insurance for himself and his family, and must be of good character. The Greece Investor Residency Process has a fairly straightforward order, as they should follow the legal steps, acquire a property, and start fulfilling their application. Following these steps, an applicant will need to submit all the biometric data to the relevant authorities in Greece, and then he will be issued a Golden Visa Residence Card.
[1] https://thefoundation.gr/2023/12/14/startups-in-greece-2023-2024-venture-financing-report/
[2] https://www.enterprisegreece.gov.gr/en/invest-in-greece/sectors-for-growth/tourism
[3] https://www.mckinsey.com/capabilities/mckinsey-digital/our-insights/digital-commerce-a-growth-opportunity-for-greece
[4] https://cms.implementconsultinggroup.com/media/uploads/articles/2024/The-economic-opportunity-of-generative-AI-in-Greece/The-economic-opportunity-of-AI-in-Greece.pdf
[5] https://www.privacyshield.gov/ps/article?id=Greece-Agricultural-Sector#:~:text=and%20trade%20data.-,Overview,farms%20and%20low%20capital%20investment.
[6] https://www.enterprisegreece.gov.gr/en/invest-in-greece/sectors-for-growth/energy