Retire in Greece and get the 7% flat tax

Transfer your tax residence to Greece

That recently approved law, in force since July 31 2020, provides that pensioners who transfer their tax residence to Greece will benefit from a flat tax of 7% for 15 years.

Retire in Greece and apply by March 31!

There is no “retirement visa” in Greece. The 7% percent flat tax rate is a tax program for foreign pensioners who decide to live in Greece. You may or may not be an EU-citizen. You can just rent or buy a house and take advantage of this program.
The application has to be submitted to the Tax Office for non-residents by March 31 of the year in question;

This new form of tax law is not entirely original. Canary Islands, Portugal, Cyprus, Croatia and a number of other countries we help relocate to have similar tax schemes for retirees.

Retiring in Greece

Who Can Qualify For This Program

Here are the eligibility criteria that will apply for pensioners from abroad to secure tax residence in Greece with a flat income tax rate of 7% for the next 15 years:

• Original tax residence abroad (at least 5 years within the last 6 years before the transfer of the main residence to Greece);
• Transfer of tax residence to Greece;
• Proof that you are a pensioner;
• Agreement to avoid double taxation between your country of origin and Greece. A Double Taxation Agreement (DTA) is a tax treaty signed between two countries to prevent taxation on the same income in both countries.

If you want to understand how you can benefit from the 7% flat tax in Greece you can write us for your qualified advice in individual cases.

Corfù

How to relocate to Greece

REFRAMED can help you relocate your tax residency to Greece.
We take care about all the paperwork required for residency, real estate research (renting/buying a house) and every little detail involved in a relocation alone or with the family.
We provide also tax and legal advisory for our clients before, during and after relocation.

If you want to understand how you can benefit from the 7% flat tax in Greece you can write us for your qualified advice in individual cases.

Patmos

Can non-EU citizens benefit from the new tax law?

Yes, there is an opportunity for non-EU citizens as well. If you are a non-EU citizen you can make use of your Greece Golden Visa to benefit from the 7% flat tax when you retire in Greece. The reason is that the Golden Visa will open the way for you to move your tax residency to Greece. After you invest in the country and get your residency permit via Golden Visa, you can stay in the country as a resident.

In this sense, it is similar to the NHR (Non-Habitual Residency) program in Portugal. NHR is also available only for EU/Swiss citizens. However, as a non-EU citizen, after you obtain your Portugal Golden Visa, you can become a tax resident in Portugal. You can do this by staying there for 183 days each year. After this, you can benefit from the NHR. NHR is valid for 10 years. Under the NHR regime, most of your foreign source income is exempt from taxation. You also enjoy generous tax exemptions if your job is one of the “high-added-value” professions.

REFRAMED can help you get the Golden Visa and relocate your tax residency to Greece or Portugal as well.