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Tax Measures

in Greece

The Greek government has introduced several tax measures and incentives to encourage individuals and investors to relocate their tax residency to Greece. These measures aim to create a favorable tax environment and promote investments and economic activities in the country. Here are some of the tax measures and incentives available:

50% discount

01

Tax exemption for seven (7) years

Individuals who transfer their tax residence to Greece can benefit from a 50% tax exemption on their worldwide income for the first seven (7) years.

 

This means that only 50% of their income will be subject to Greek taxation, while the remaining 50% will be exempted.

02

Tax incentives for “NonDom” investors

In addition to tax exemptions, Greece also offers tax incentives to individuals who invest in certain sectors of the economy. Investors who invest, for example, in renewable energy projects can benefit from reduced tax rates, tax exemptions, and more. This is referred to as the "Non-Domiciled Resident" (Non-Dom)...

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03

Couple at Gallery

Alternative Taxation of Foreign Pensioners – Application of 7% Rate

Furthermore, there are tax incentives offered to attract foreign individuals, particularly retirees, who wish to transfer their tax residence to Greece. According to Article 5B of the Income Tax Code, foreign pensioners who transfer their tax residence to Greece are subject to an alternative method of income taxation with a flat rate of only 7% for foreign-source income. Based on statistics, for this specific regulation, 335 applications for inclusion in the alternative taxation scheme have been approved, from at least 21 countries since 2020, while 120 applications are currently under processing.

04

Access to the EU Single Market

By becoming a tax resident of Greece, individuals have the opportunity to access the EU Single Market. This means that natural persons can benefit from the free movement of goods, services, capital, and people within the EU, which can have a significant impact on their business activities.

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Low Cost of Living

In comparison to other European countries, the cost of living in Greece is relatively low. This means that individuals who become tax residents in Greece can enjoy a high standard of living with significantly lower costs compared to other countries.

moneyreview.gr

Furthermore, according to an article on the Greek website "moneyreview.gr" published in January 2023, the transfer of tax residence to Greece is becoming increasingly popular among employees, self-employed individuals, retirees, and investors, as it is accompanied by a favorable tax management.

Family Offices

Already, many are transferring their tax residence to Greece and initiated the process of establishing Family Office Special Purpose Companies ("ΕΕΣΔΟΠ"). This is governed by Law No. 4778/2021, which aims to attract financial flows from high-net-worth individuals and regulates the operation of so-called "Family Offices". The prerequisite for the establishment of such entities is to incur annual operating expenses of at least 1,000,000 euros in Greece in each tax year.

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