The Greek Finance Ministry issued in late December a series of guidelines aimed at other country nationals wishing to transfer their tax residence to Greece.
Investing in Greece is the key requirement for the move based on the ministerial decision which foresees favorable tax treatment and applies to the following categories:
– acquisition of real estate in Greece
– purchase of existing or creation of new fixed facilities in Greece with the aim of conducting business through sole proprietorship
– acquisition of shares in non-listed companies on the regulated market
– purchase of Greek government bonds
– capital contribution for participation in an alternative investment organization
– purchase of securities traded on regulated markets.
Investments considered must be completed and all expenses paid. The taxpayer is obliged to maintain the investment in Greece for the entire period of its inclusion in the favorable tax scheme, which can last up to 15 years.
The decision is part of the “non-dom program” to stimulate growth and remedy brain-drain caused by the Greek debt crisis and also offers significant tax breaks to Greeks abroad who chose to return and work in Greece as well as to returning pensioners.
For further information, the Finance Ministry can be contacted here.