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DOING BUSINESS IN GREECE

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Private Clients & Enterpreneurs / Businesses

A minimum of threshold matters needs to be addressed for purposes of complying with local laws and regulations. We often publish insights on hot topics that many individuals or businesses doing business in Greece regularly face.

PRIVATE CLIENTS & ENTREPRENEURS

BUSINESSES

Alternate Tax Regime for individuals with foreign pension income

The Greek Government has provided important tax incentives to private individuals (high-net-worth individuals, pensioners, and Greeks living abroad) to transfer their tax residency in Greece. We have successfully advised clients in their relocation to Greece.

In order for someone to be eligible they need to satisfy the following conditions: a) they earn foreign-sourced pension income, b) they transfer their tax residency to Greece, c) they have not been Greek tax residents for the previous 5 of the last 6 years before the transfer of their tax residence to Greece and d) they relocate from a country with which Greece has a valid agreement concerning administrative cooperation on tax issues.

In that case, the individual concerned is required to pay annually until the end of July a 7% flat income tax for their income obtained abroad with full exhaustion of their tax liability in Greece for such foreign source income, unless such income is exempt by application of a tax treaty between Greece and the foreign source country.