How many moved their tax base to Greece

There are more than 1,000 persons from abroad, who transferred their tax residence to Greece after the provision of tax incentives that provide for the payment of half income tax and half solidarity contribution for 7 years.

According to data cited recently by the leadership of the Ministry of Finance, most of them are Greeks who had left in the last decade and are residents of the United Kingdom.

At the same time, 75 millionaires from 21 countries have transferred their tax residence to Greece, while the Ministry of Finance has approved 150 of the 206 applications of pensioners abroad.

The results from the implementation of the legislative framework for providing tax incentives to attract new tax residents and investments in Greece were presented by the Minister of Finance Christos Staikouras, the Deputy Minister of Finance Apostolos Vesyropoulos and the Secretary General of Tax Policy and Public Property Athena Kaliva.

The press conference began with the position of Mr. Staikouras, who referred to the series of legislative initiatives taken by the government to provide tax incentives to attract investment and individuals with tax residence abroad.

The 4 steps

Specifically, the Minister of Finance mentioned the 4 steps taken to achieve the above goal.

1st. With Law 4646/2019, from the tax year 2020, the taxpayer, a natural person, who transfers his tax residence to Greece, can be subject for 15 years to alternative taxation of income arising abroad, if he/she meets - cumulatively - specific conditions, including the investment in Greece of a minimum amount of 500,000 euros.

With the payment, annually, of a flat tax of 100,000 euros, any tax liability of the natural person for the income that arises abroad is...