Greece draws expats, individuals with new incentives, opportunities
Greece is seeing a growing number of high-skilled and high net worth individuals relocating to the country − drawn by new incentives, investment opportunities and lifestyle − and reversing recent emigration trends.
In the last two years, the Greek government has put in place a comprehensive legislative framework of tax incentives, aimed at attracting new tax residents and investments to Greece. This includes four separate laws aimed at non-domiciled tax residents, foreign retirees, digital nomads and the family investment offices of high net worth individuals.
Since then, the Greek government has received more than 1,000 applications from foreign professionals, retirees and non doms drawn from 21 countries to declare their tax residency in Greece. The new programs also complement Greece’s almost 10 year-old Golden Visa program, which has attracted more than 9,000 individual investors to date from abroad.
“As shown by the data for the first period of implementation of the new provisions, despite the adverse circumstances of the pandemic, the impact of the new tax incentives is extremely encouraging,” said Finance Minister Christos Staikouras. “Greece, moving forward with planning, vision and confidence, is recovering strongly from the health crisis, developing and is open to attracting investments and human capital.”
Graph data source: Ministry of Finance