Newsletter July,2022,07


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Foreign professionals, pensioners, wealthy relocating to Greece

Digital nomads and expatriate Greeks, globe-trotting multimillionaires, pensioners and property investors are all arriving in growing numbers to set up residence in Greece. Attracted by the country’s favorable tax regime, investment incentives and unparalleled quality of life, recent data show that Greece is becoming a destination for highly skilled and high net worth individuals from around the world.

In the last three years, more than 1,500 investors, pensioners and professionals have reportedly relocated to Greece. And this year more than 1,000 wealthy foreigners may also do so, according to an international survey.

The recently released Henley Global Citizens Report, which tracks private wealth and investment migration trends worldwide, shows that Greece is among the Top 10 countries in the world poised to draw millionaires as new residents. According to the report, some 88,000 high net worth individuals – defined as those with investable assets of more $1 million – will relocate to another country this year.

Greece is ranked 8th in the world’s top destinations for those multimillionaires, and is expected to draw 1,200 over the next 12 months, according to the survey. At the same time, Greece’s Golden Visa program ranks as one of the Top 5 residency programs globally in terms of popularity, and amid signs that the program is attracting investors from an ever wider set of countries.

Recent data from the Bank of Greece also confirm the trend. According to the central bank, foreign direct investment in Greek real estate totaled €374 million in the first quarter of 2022, marking a 74.8% increase from a year earlier, and just shy of an all-time record of €392.7 million in the first quarter of 2019.