Greece Attracts British and American Millionaires, Becoming a Global Hotspot for Wealthy Individuals

• 13 March, 25

In recent years, the global wealth landscape has undergone significant changes, with Greece emerging as a top destination for high-net-worth individuals (HNWIs) due to its unique advantages. The Greek real estate market is witnessing an influx of foreign capital, as more and more wealthy individuals from the UK, the US, and other countries are drawn to Greece, choosing to start a new chapter of life there.

Greece Becomes the Eighth Most Popular Destination for Millionaire Migration

According to a survey by New World Wealth, approximately 1,200 millionaires migrated to Greece between 2022 and 2024, making it the eighth most popular migration destination for the wealthy worldwide. Experts in real estate investment, residency permits, and citizenship from a UK-based investment immigration firm stated, “Greece is highly attractive to ultra-wealthy individuals deciding to leave the UK and the US, and this trend has accelerated over the past 12 months.”

Incentive Policies That Attract the Wealthy

The Greek government has introduced a series of attractive policies for high-net-worth individuals, including the Golden Visa program, tax incentives for non-domiciled individuals (non-doms), and benefits for retirees. Data from the Greek Ministry of Finance shows that at least 213 investors have transferred their tax residency to Greece under the non-domiciled program, including millionaires and billionaires from the UK, as well as wealthy individuals from Australia, the US, Argentina, the UAE, Russia, and even Monaco.

Driving Forces Behind Global Wealth Migration

Beyond Greece’s inherent advantages, changes in the global political and economic landscape have also played a crucial role in driving wealthy individuals to relocate. In the UK, the number of non-domiciled residents decreased by 37% between 2013 and 2023. In 2024, after the UK government announced tighter restrictions on the non-domiciled tax regime, the pace of millionaire departures significantly accelerated. Meanwhile, former US President Donald Trump’s re-election has also been cited as a factor prompting American millionaires to move to Europe or the Middle East.

Greece’s Unique Appeal

What makes Greece attractive to millionaires goes beyond favorable policies—it also offers a unique natural and cultural environment. With its stunning blue Aegean Sea, ancient Acropolis ruins, and mild climate, Greece provides an ideal setting for an outdoor lifestyle and a relaxed pace of life. Additionally, compared to other popular European immigration destinations, luxury real estate in Greece offers better value for money, drawing numerous foreign buyers.

Economic Impact and Future Outlook

The arrival of wealthy individuals has injected substantial capital into Greece’s real estate market and boosted related industries, further enhancing the country’s economic vitality. As global high-net-worth individuals continue to focus on Greece, this Southern European nation is writing a new chapter of development, gradually becoming a key hub in the global wealth migration trend.

Cre: ekathimerini