φορολογικός παράδεισος

Greece was considered a tax heaven for foreign investors

Greece is trying to offer tax incentives to attract direct foreign investment.

More specifically, the first applicable provision is included in article 5a L.4172/2013, as it is involved and analyzed in the circular decision A.1036/2020.

According to the above legislation, the investor who invests directly or through a relative, an amount of more than 500,000 euros, will receive the benefit of a single tax deposit of 100,000 euros for his global income, which also emerges abroad.

Requirements:

The private investor will not be a tax resident of Greece for eight years before the transfer of his tax residence in Greece, will prove an investment (directly or through a relative) of 500,000 euros and will deposit a single tax installment of 100,000 euros for his global income emerging abroad. In addition, the person is given the opportunity to request the extension of this article to a relative and, in this case, will pay an additional tax of 20,000 euros for each relative, without the implication of the provisions on taxes on donations, parental grants and of heritage.
The specific investment will be made within three years from the date of submission of the application and will be completed directly by the individual or through a company or legal entity in which he holds the majority of shares or participation respectively, in real estate or business or securities or shares or participations in companies or legal entities in Greece.
There is no restriction on the business activity of the company that does not invest, neither the number of employees nor its location.

This beneficial tax regime provided by law will be extended to “members of the principal investor’s family, ie. “his/her husband/wife, his/her parents and his/her children.”

The investor and his family members apply at any time and are exempt from the Greek tax regime and can transfer their tax residence to any other country they wish.

Finally, it is noted that after the three-year period, the investor is entitled to make a new investment above the limit of 500,000 euros and to rejoin the benefit tax system to file a tax of 100,000 euros on his global income.

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