Tax incentives

Greece – the unknown heaven for EU and non-EU nationals.

HNWIs

High-net-worth individuals

Greece’s new alternative tax regime for high-net-worth individuals is rapidly gaining popularity. Individuals abroad who transfer their tax residency to Greece are subject to beneficial treatment on non-Greek income. This non-domicile (Non-Dom) status may be held for up to 15 years.

To qualify, they must pay an annual lump-sum tax of €100.000 and invest at least €500,000 within the first three years of the application date. The investment may relate to real estate, businesses, or transferable securities or shares in legal entities based in Greece. The applicant may extend the scheme to relatives by contributing an additional flat tax of €20,000 per member per annum. Minors and dependent children who reside with the applicant are not burdened with an additional tax.

Individuals already subject to the Golden Visa scheme who wish to apply for Non-Dom status are not obliged to provide further proof of investment.

To qualify for this regime, you must

Not have been a tax resident of Greece for at least 7 of the past 8 years before your application.

Key benefits

€100.000 annual lump-sum tax on total foreign-source income.
No obligation to declare foreign-source income in Greece.
Potential to hold on to Non-Dom status for up to 15 years.
Possibility of including relatives.
Exemption from gift, inheritance, and parental grant tax between family members.
No solidarity contribution.

*No requirement to live in the country.

Notes

Beneficials may request revocation of their Non-Dom status in any tax year during the 15-year period.

Non-Dom status does not impact tax treatment of Greek-sourced income, which is taxed according to the general Greek tax provisions.

Tax paid outside Greece on income covered by this alternative taxation regime does not offset against the tax liability of Non-Dom beneficials in Greece.

*Any individual spending 183+ days in any one country may risk being considered tax resident in that country.

Individual business activity and foreign employees

Entrepreneurs who transfer their tax residency to Greece to carry out individual business activity locally, and foreign employees filling new job offerings in Greece, are both eligible for tax deductions on income earned in Greece under a favorable new tax regime. Namely, an amount equal to 50% of their respective earnings in Greece will be deducted from their taxable income.

To qualify for this regime, you must

Transfer your tax residence from a member state of the EU, a country of the European Economic Area (EEA), or a country that has a Double Taxation Agreement (DTA) with Greece.
Not have been a tax resident of Greece for at least 5 of the past 6 years before your application.
Declare your intention to stay in Greece for at least 2 years.
Be from a country that has a Double Taxation Agreement (DTA) with Greece.
Either provide services in Greece on the basis of an employment contract with a legal entity permanently established in Greece, or carry out individual business activity in Greece.

Key benefits

50% of earned income exempt from tax
Wealth tax exemption
No solidarity contribution

Retirees

Retirees who transfer their tax residency to Greece will benefit from a 7% flat tax rate on total foreign-source income.

To qualify for this regime, you must

Be from a country that has a Double Taxation Agreement (DTA) with Greece.
Not have been a tax resident of Greece for at least 5 of the past 6 years before your application.
Be able to prove that you are a retiree.
Agree that you will stay in Greece for at least 6 months every year.

Key benefits

7% flat tax rate, the best in Europe.
Includes pensions, rents, business activities, investments, dividends, etc.
No solidarity contribution.
The enforcement is valid for 15 years.

Angel investors and start-ups

Individuals who make a capital contribution to a duly registered start-up company may deduct from their taxable income an amount equal to 50% to the amount of their contribution.

This incentive applies for contributions of up to €300,000 per tax year, which are invested in up to three start-ups with a maximum investment of €100,000 per start-up.

The start-up must be registered on the Greek National Start-up Registry ‘Elevate Greece’.