Greece Introduces New Moves to Attract the World’s Rich

• 3 July, 25

In a bid to strengthen its position in the global wealth migration landscape, the Greek government has recently accelerated efforts to enhance its “non-domiciled tax resident” regime. Greece’s National Economy and Finance Minister, Dimitris Pierakakis, announced that a new tax reform bill will soon be submitted to parliament, aiming to further attract wealthy individuals, entrepreneurs, and high-net-worth investors to transfer their tax residency to Greece.

Flat Tax on Global Income: Greece Continues Investor-Friendly Policies

Under the current policy, eligible foreign applicants or overseas Greeks who transfer their tax residency to Greece can opt to pay a flat annual tax of €100,000 on their worldwide offshore income. This preferential scheme can last for up to 15 years and exempts the individual from declaring or paying additional tax on actual foreign income.

Since its introduction in 2020, this regime has attracted more than 213 high-net-worth individuals to shift their tax residency to Greece, bringing in over €277 million in direct investment through real estate, equity, and financial market investments.

Clear Requirements with Moderate Thresholds

Applicants must meet two core eligibility criteria to qualify for the program:

• They must not have been Greek tax residents for at least 7 of the 8 years prior to the application;
• They must invest at least €500,000 in Greece — in real estate, company shares, or financial instruments — either personally, through their spouse, or via a controlled company, with the investment to be completed within three years of approval.

It is important to note that applicants remain liable to pay tax under Greece’s regular tax regime for any income generated within Greece.

Upcoming Reforms: Spousal Inclusion and Exemption from Foreign Gift Tax

At the Athens M&A Summit, Minister Pierakakis also revealed two key elements of the upcoming legislative amendment:

• If the taxpayer is married, their spouse will also be eligible to apply for the same non-domiciled tax treatment;
• Beneficiaries of the regime will be exempt from taxes on foreign asset gifts or inheritances, easing cross-border wealth succession planning for families.

These changes are seen as remedies to the current system’s structural limitations and are expected to enhance Greece’s appeal in international tax planning and asset protection.

Following Italy’s Lead, Greece Aims to Become Europe’s New Wealth Hub

With this reform, Greece aims to align more closely with leading European nations such as Italy in terms of tax planning for high-net-worth individuals. The country aspires to become one of the most attractive destinations in Europe in terms of tax optimization, investment convenience, lifestyle, and residency transformation.

Additionally, the Greek government plans to launch an international promotional campaign in September 2025, including dedicated events in European financial centers like London. These will target potential migrants, global family offices, and wealth management firms, showcasing Greece’s advantages in tax policy, investment environment, and immigration programs.

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