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TAXATION IN GREECE

TAXATION IN GREECE:  Greece offers a “non-domicile” tax regime for external individuals wanting to transfer their tax residency, This regime allows for a fixed annual tax on foreign income without the need to declare it in Greece.

• STAY IN GREECE WITHOUT PAYING TAXES:  Under the Tax residency criteria (Article 4 of ITC), anyone being in Greece for a period beyond one hundred eighty-three (183) days, cumulatively, during any twelve-month period, shall be considered a Greek tax resident from the first day of the person’s presence in Greece.
• DO DIGITAL NOMADS PAY TAXES IN GREECE:  Taxation applies to individuals who will remain in the country for more than a year. The Digital Nomad Visa, an individual will be eligible for a 50% tax discount according to Greece's tax regulations. You only pay half of your actual tax rates, and this applies for as long as you stay in Greece.
• WHAT IS THE NON-DOM TAX IN GREECE:  The Non-Dom Tax Regime offers a flat annual tax of €100,000 on foreign-sourced income to qualifying individuals transferring their tax residence to Greece. To be eligible, taxpayers (or their relatives/companies they control) must invest at least €500,000 in approved categories of investments in Greece. 

 

NON-DOM FOR HIGH-NET-WORTH INDIVIDUALS WITH €100K FLAT TAX:  This is based on the inputs from the appointed law firm and Greece tax advisors, we hereby provide information on non-dom model.

The law firm will provide our clients and guide on the process of your tax residence to Greece. Take advantage of the attractive tax incentives available to you and your family, paying a flat annual tax of €100,000.

 

HOW TO QUALIFY UNDER €100K FLAT TAX: 

To transfer your tax residence to Greece as an investor, you must:

• Be a non-Greek tax resident for 7 out of the last 8 years.
• Make an investment as an individual or through a legal entity established in Greece, in which you are the sole shareholder.

To be able to qualify, you must invest:

• A minimum of €500,000 in real estate, business, securities or shares in legal entities established in Greece.
• A minimum of €400,000 if you hold a residence permit by investment in financial assets under the Golden Visa scheme.

If you are applying for non-dom residency and you are not an EU citizen, you also need to apply for a Golden Visa. Otherwise, you could risk being considered a tax resident of another country.

 

HOW OTHER FAMILY MEMBERS QUALIFY: 

When you apply for Greek tax residency, you can extend this alternative taxation scheme to your relatives:

• Spouse
• Children over 18
• Parents

Children under 18 qualify automatically, provided they live with you.

 

HOW YOU ARE TAXED ON A LUMP-SUM TAX PAYMENT:  Irrespective of the amount of income you earn abroad, you pay a flat annual tax of:

• €100,000 for yourself.
• €20,000 for each additional family member.
• This sum must be paid in a lump sum by the last working day of July of each year.
• If you fail to pay the full amount of the lump-sum tax, the special regime ceases to apply and you will be taxed for your worldwide income, in accordance with the general provisions of that tax year.

 

HOW YOU ARE TAXED ON OTHER TAX PAYMENTS:  If you pay tax abroad on the income covered by this alternative non-dom tax regime, that amount will not be offset against the lump-sum tax or any other tax paid in Greece.

You are also exempted from inheritance and donation tax for assets located outside Greece.

 

HOW LONG THE REGIME LASTS FOR INVESTORS: The special non-dom regime for investors and their relatives lasts for a maximum of 15 years.

It may be terminated at any time if:

• You fail to fulfil your obligations under the non-dom tax regime.
• You request to have the non-dom tax regime revoked.

When to apply for the Non-Dom Regime:

• You must apply by 31 March of any calendar year, to transfer your tax residence to Greece.
• The application must be filed with the Tax Office of Foreign Tax Residents of Athens.

From the time you file your application, you have:

• 60 days to provide all the relevant supporting documents to the Greek tax authorities.
• 3 years to finalise your investment in Greece.

Once you apply, the Greek tax authorities will notify the corresponding authorities at your country of origin.

 

WHY CHOOSE US FOR NON-DOM TAX RESIDENCY FOR FOREIGN INVESTORS:  Once you sign up with us, we will appoint the law firm and the tax advisors, who will provide you valuable advice on international wealth management and tax planning.

• Understanding the difficulty of international tax matters and recognising that each case is different, we carefully examine all aspects of every application that requires proper assistance and accordingly the tax planning is designed and planned to design a non-domicile solution that is specifically custom-made to your needs.
• We have put together a team of highly-trained lawyers and qualified tax advisors to offer you step-by-step support and guidance when you choose to transfer your tax residence to Greece.
• Backed by our successful track record and the strong partnerships we have created all over the world, we are your ideal immigration consultants to guide you in all aspects towards your visa application.

 

NON-DOM FOR PENSIONERS WITH 7% TAX RATE:  Based on the inputs from tax consultant and the law firm in Greece share with you the knowledge of the tax law to develop a non-dom model custom-made to client needs.

• Accordingly, we shall guide you to discover all your retirement options in Greece. Take benefit of the attractive tax incentives available to you, paying a flat 7% annual tax rate
• The tax law and the Golden Visa scheme to develop a non-dom model specifically custom-made to your needs, so you can spend your retirement in a country that enjoys 250 days of sunshine a year.

 

NON-DOM FOR PROFESSIONAL EXPATRIATES WITH 50% DISCOUNT: Study how you can benefit from tax incentives available to expatriates in Greece. Based on our expertise our tax consultant and lawyer will design a non-dom model custom-made to your needs.

• Get respected advice on how to transfer your tax residence to Greece and make the most of the attractive tax incentives available to you as a professional expatriate.
• Based on our expertise our tax consultant and lawyer will design will guid you on the tax law to develop a non-dom model specifically tailored to your requirements while you enjoy your stay and work in Greece.

 

HOW YOU QUALIFY: To transfer your tax residence to Greece as a professional expatriate, you must:

• Be a non-Greek tax resident for 5 out of the last 6 years.
• Be a tax resident of an EU or EEA country, or a country which has an agreement in force with Greece on administrative cooperation in the field of taxation.
• Earn domestic income deriving from salaried employment or freelance business activity in Greece.
• Reside in Greece for at least 2 years (more than 183 days per year).

To be able to qualify, your income should come from:

• New salaried job positions provided by legal entities established in Greece, or
• A sole proprietorship you have established in Greece.

 

HOW YOU ARE TAXED:

• Tax exemption: You only pay income tax and solidarity levy for 50% of the domestic income you earn as a salaried employee or freelancer in Greece. The tax is paid in accordance with the provisions of the Greek Income Tax Code.

If you fail to declare that you intend to reside in Greece for 2 years or your income is derived solely from other sources, you will be taxed for your entire domestic income, in accordance with the general provisions of that tax year.

• Other tax payments: You must file a tax return for both domestic and non-domestic income with the Greek tax authorities. No deemed income is calculated on your home or car. In all other cases, the provisions of the Greek Income Tax Code apply.

How long the Government Lasts: The special non-dom regime for professional expatriates lasts for a maximum of 7 years.  It may be terminated at any time if:

• You fail to fulfil your obligations under the non-dom tax regime.
• You request to have the non-dom tax regime revoked.

When to apply for the Non-Dom Regime:  You must apply by 31 July of the calendar year, during which you took up employment or freelance business activity in Greece.

• The application must be filed with the Tax Office of Foreign Tax Residents of Athens.
• Once you apply, the Greek tax authorities will notify the corresponding authorities at your country of origin.

 

WHY CHOOSE US FOR NON-DOM TAX RESIDENCY FOR TAX PLANNING: We along with assistance of the law firm and the appointed tax advisors will provide valuable advice on tax planning to domestic and foreign investors and professionals for Greece.

• Understanding the difficulty of international tax matters and recognising that each case is different, we carefully examine all aspects of every application that requires proper assistance and accordingly the tax planning is designed and planned to design a non-domicile solution that is specifically custom-made to your needs.
• We have put together a team of highly-trained lawyers and qualified tax advisors to offer you step-by-step support and guidance when you choose to transfer your tax residence to Greece. 
• Backed by our successful track record and the strong partnerships we have created all over the world, we are your ideal immigration consultants to guide you in all aspects towards your visa application. We will accordingly appoint the respective Tax advisory for your application at the appropriate time.

 

 

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