diff --git a/Cargo.lock b/Cargo.lock
index 24e34f392..76a52df89 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -311,6 +311,7 @@ dependencies = [
  "cw1-whitelist",
  "cw2",
  "schemars",
+ "semver",
  "serde",
  "thiserror",
 ]
@@ -1010,6 +1011,12 @@ dependencies = [
  "syn",
 ]
 
+[[package]]
+name = "semver"
+version = "1.0.4"
+source = "registry+https://github.com/rust-lang/crates.io-index"
+checksum = "568a8e6258aa33c13358f81fd834adb854c6f7c9468520910a9b1e8fac068012"
+
 [[package]]
 name = "serde"
 version = "1.0.130"
diff --git a/contracts/cw1-subkeys/Cargo.toml b/contracts/cw1-subkeys/Cargo.toml
index 37b1abc05..c2c497670 100644
--- a/contracts/cw1-subkeys/Cargo.toml
+++ b/contracts/cw1-subkeys/Cargo.toml
@@ -27,7 +27,8 @@ cosmwasm-std = { version = "1.0.0-beta", features = ["staking"] }
 cw-storage-plus = { path = "../../packages/storage-plus", version = "0.10.2" }
 schemars = "0.8.1"
 serde = { version = "1.0.103", default-features = false, features = ["derive"] }
-thiserror = { version = "1.0.23" }
+thiserror = "1.0.23"
+semver = "1"
 
 [dev-dependencies]
 cosmwasm-schema = { version = "1.0.0-beta" }
diff --git a/contracts/cw1-subkeys/src/contract.rs b/contracts/cw1-subkeys/src/contract.rs
index e81d58c06..71527bbc4 100644
--- a/contracts/cw1-subkeys/src/contract.rs
+++ b/contracts/cw1-subkeys/src/contract.rs
@@ -18,8 +18,9 @@ use cw1_whitelist::{
     msg::InstantiateMsg,
     state::ADMIN_LIST,
 };
-use cw2::set_contract_version;
+use cw2::{get_contract_version, set_contract_version};
 use cw_storage_plus::Bound;
+use semver::Version;
 
 use crate::error::ContractError;
 use crate::msg::{
@@ -455,6 +456,22 @@ pub fn query_all_permissions(
     Ok(AllPermissionsResponse { permissions: res? })
 }
 
+// Migrate contract if version is lower than current version
+#[entry_point]
+pub fn migrate(deps: DepsMut, _env: Env, _msg: Empty) -> Result<Response, ContractError> {
+    let version: Version = CONTRACT_VERSION.parse()?;
+    let storage_version: Version = get_contract_version(deps.storage)?.version.parse()?;
+
+    if storage_version < version {
+        set_contract_version(deps.storage, CONTRACT_NAME, CONTRACT_VERSION)?;
+
+        // If state structure changed in any contract version in the way migration is needed, it
+        // should occur here
+    }
+
+    Ok(Response::new())
+}
+
 #[cfg(test)]
 mod tests {
     use cosmwasm_std::testing::{
diff --git a/contracts/cw1-subkeys/src/error.rs b/contracts/cw1-subkeys/src/error.rs
index 01d10996e..203587e43 100644
--- a/contracts/cw1-subkeys/src/error.rs
+++ b/contracts/cw1-subkeys/src/error.rs
@@ -42,6 +42,9 @@ pub enum ContractError {
 
     #[error("Allowance already expired while setting: {0}")]
     SettingExpiredAllowance(Expiration),
+
+    #[error("Semver parsing error: {0}")]
+    SemVer(String),
 }
 
 impl From<cw1_whitelist::ContractError> for ContractError {
@@ -52,3 +55,9 @@ impl From<cw1_whitelist::ContractError> for ContractError {
         }
     }
 }
+
+impl From<semver::Error> for ContractError {
+    fn from(err: semver::Error) -> Self {
+        Self::SemVer(err.to_string())
+    }
+}