Before some months the Greek Ministry of Finance has announced fiscal inducements that make Greece the place to be. Despite the unfavorable situation of the pandemic, the impact of the new Non-Dom program in Greece is really encouraging. In just a few months, ninety wealthy investors and one hundred and eighty retirees have already applied in order to take advantage of the tax benefits provided in Greece.
The Greek program for attracting foreign investment provides:
The possibility of alternative taxation of global income for young tax residents who make significant investments in Greece
The alternative taxation to foreign pension beneficiaries, who transfer their tax residence to Greece.
Incentives to attract foreign employees and freelancers as well as Greeks who left the country during the previous years of the economic crisis.
Exemption from income tax and social solidarity contribution of 50% of the income they will receive in Greece for a period of seven years for persons who transfer their tax residence in Greece and will be employed in new jobs or will start an activity as freelancers.
Establishment and operation of special purpose offices for the management of family property (family offices). The new provisions establish transparent rules for the management of cash flows and family property of high-income individuals by the family offices.
Due to the increased interest of taxpayers, the application deadline for 2021 was recently extended. Do not miss the chance. Our accounting office undertakes the process (application as well as further procedures).