Tax incentives in Greece: Attract new tax residents and investments
If you’re considering investing in Greece or becoming a tax resident in the country, you’ll want to know about the tax incentives in Greece. In this article, Europlan Construction Company provides insights on tax incentives in Greece, including the “non-dom” regime and the “Golden Visa” program, that are available to attract new tax residents and investments. Learn how these tax incentives can benefit you and your investments.
The legislative framework for the provision of tax incentives, with the aim of attracting new tax residents and investments in Greece, has gathered a lot of interest from investors, foreign pensioners and workers, generating significant revenue for public funds and multiple benefits for our country.
- The beginning was made with Law 4646/2019, which introduced in Greece the institution of the “resident non-resident” (Non-Dom), to attract foreign tax residents – investors, who, by transferring their tax residence to Greece and realizing significant investments in our country, benefit – for a period of up to 15 years – from alternative taxation of income of foreign origin. The investment amount cannot be less than five hundred thousand (500,000) euros and must be completed within three (3) years from the date of submission of the application.
- Subsequently, Law 4714/2020 extended the alternative income taxation to foreign pensioners, who transfer their tax residence to our country, by applying a rate of 7% for income of foreign origin.
- In addition, with Law 4758/2020, tax incentives were established to attract foreign workers and self-employed people, as well as Greeks who left the country during the financial crisis, in order to transfer their tax residence and operate professionally in Greece.
Specifically, for the aforementioned categories of natural persons – employees or self-employed – a 50% exemption from income tax and the special solidarity levy has been established, for a period of up to 7 years, on the condition of filling a new salaried position or starting a new activity. This is a measure that contributes significantly to the effort to return to our country from abroad human resources with a high level of knowledge, professional abilities and skills (brain gain).
Although the implementation of the framework for providing tax incentives to attract new tax residents and investments in Greece began under extremely unfavorable conditions, due to the health crisis, its direct efficiency is already reflected in the data of the General Secretariat of Tax Policy and Public Property.
If you would like to learn more about the tax incentives mentioned in the article, you can visit the Ministry of Finance’s website for additional information. The link to their website is provided below and will give you access to official documents and resources related to tax incentives in Greece.
By reviewing the information available on the Ministry of Finance’s website, you can gain a better understanding of the specific tax incentives that may be available to you or your business, as well as the requirements and procedures for accessing these incentives. This can help you make more informed decisions about tax planning and investment strategies in Greece.
The website www.enterprisegreece.gov.gr is the official website of Enterprise Greece, the national investment and trade promotion agency of Greece. The website provides information and resources for foreign investors and businesses looking to invest in or trade with Greece. It includes information on investment opportunities, sectors of the Greek economy, investment incentives and procedures, as well as business news and events. The website is a valuable resource for anyone interested in doing business in Greece.
Do not hesitate to contact us for an offer or any information regarding our services. Europlan undertakes all the necessary procedures if you wish to buy or build a property in Greece and obtain a golden visa.
Τι είπαν οι πελάτες μας
My collaboration with the technical company Europlan lasts for years because they have proven to me their ability to create homes that stand out while at the same time their specialization in luxury holiday homes is known, both in terms of design and construction. Personally for me it is very important to have partners whose work adds value to the money which - anyway - you have to invest.
The quality of the construction absolutely met our standards and expectations. We have a second plot in Elounda and when the time comes to build, we will definitely work with Europlan again.
As the owner of three villas in the area of Plaka, I highly recommend the technical company Europlan for the execution of design and construction of any technical project.