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Greece offers tax incentives to attract foreigners, expat Greeks

The Greek government tabled on Tuesday a draft bill in Parliament offering tax incentives to attract foreign taxpayers in Greece. The incentives include generous tax cuts and tax exemptions for homes and vehicles.

Finance Minister Christos Staikouras said that the government begun this process with the law 4646/2019, introducing the Non-Dom institution to attract foreign taxpayers who make significant investments in Greece, taking advantage of the alternative taxation status of their global income.

The Minister added that the government introduced the law 4714/2020, expanding the status of alternate taxation to foreign pensioners transferring their tax base to Greece.

He noted that the latest draft legislation introduces tax incentives to attract foreign workers and self-employed, along with Greeks who left the country during the economic crisis, to transfer their tax base in Greece.

The incentives offer exemption from income tax and the special solidarity contribution for 50% of the income raised in Greece for a period of seven years and exemption of the annual tax objective spending criteria for homes and vehicles.

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  1. If Greece really wants investment it should ensure that the 1,000s of UK yacht owners are allowed more than 90days in 180! More revenue would be obtained through the cruising tax,boat yards, maintenance, retail & hospitality,tavernas etc
    Failure to address this, can only result in the sale of many Yachts & loss of revenue.
    I have been cruising in Greece for over 45yrs!!

    • Good Point. However it would require a bilateral agreement and since the UK is leaving the EU it may be tricky to implement as Greece would have to deal with Brussels. as for me, an American citizen who wants to stay in Greece and work remote however cannot stay past 90 days, it presents a similar problem. Revenue from our demo is helpful to the local economy as well but alas even my attorney here is having problems getting responses from the Visa extension folks at the police station. You’d think they’d want people like us here, who stimulate the economy. Always a headscratcher here..

    • Hhhhhmmmm BREXIT, your home country has chosen its path….its called democracy (although Brexit & democracy don’t fit together well)
      Welcome to your new world.

    • Surely that’s the fault of your fellow Brits blindly voting ‘Brexit’

      • It is indeed BUT a significant proportion of us were denied a vote. The UK government takes away a UK citizens right to vote in parliamentary elections after they have been out of the country for 15 years or more. They argue, probably quite correctly, that in a parliamentary election you are voting for someone to represent you in your constituency and after 15 years you no longer have close ties to any constituency. Unfortunately they decided to use the parliamentary electoral register to decide who could vote in the referendum so we were also excluded from that as well.

        The decision was challenged, since we obviously did have a very strong interest in the outcome of the referendum, but David Cameron was about the laziest prime minister there has ever been so he couldn’t be bothered to do anything about it. Strange, since he was campaigning to remain and most expats living in the EU, although oddly not all, would probably have voted to remain.