Greece invites wealthy investors to shift their tax residence to Greece to benefits from Tax reliefs.
The Non-Domiciled scheme was introduced making Greece one of a kind tax haven for millionaires who want to immigrate to Europe. This scheme is similar to non-domiciled tax regime introduced by Italy and Portugal.
HNW investors, will need to and pay ONLY a flat tax of 100,000 annually on worldwide income, and investments in millions get more tax cuts usually by half of this amount.
Flat tax
Foreign investors must invest the following within 3 years after taking residence to benefit from tax residency.
- Invest €500,000 euro investment in Greece – €100,000 euro
- Invest €1.5 million euros in real estate, stocks and bonds – €50,000 euro (50% cut)
- Invest €3 million euros in real estate, stocks and bonds – €25,000 euro (75% cut)
Benefits
The Tax residency residency status comes with the following benefits.
- No inheritance tax for assets outside Greece
- Tax relief granted for 15 years and will protect investors from future policy changes and change in Governments.
- Greek corporate bonds from any tax on earned interest, and
- Tax relief for mutual funds and real estate trusts
- Not liable for tax on offshore income and capital gains unless the money is brought into Greece.
Golden visa
Greece already runs a golden visa scheme offering five year permanent residence permits to foreign investors against a property purchase for €250,000 anywhere in Greece. Recent data indicates over 80% of the real estate purchased in the Attica region.
Greece recently simplified golden visa scheme to include €400,000 investment in bank deposits, Govt bonds and stocks. Besides Golden visas, Greece also offers Financially independent visa for self-employed persons
