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.
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)
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.
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