Pursuant to article 2 L. 4646/2019 Greece has introduced a new Taxation option for individuals who transfer their tax residence in Greece.

More specifically, any individual who transfers his tax residence in Greece is able to be appertain to an alternative taxation if he/she fulfills the following conditions:

  1. a) He/she was not a tax resident in Greece during the previous seven (7) out of eight (8) years prior to the transfer of his tax residence in Greece and
  2. b) He/she can prove an investment of at least five hundred thousand euro (500.000). It is specifically noted that the investment can be made by the applicant or a relative or via a legal person or entity, in which the applicant bears the majority of equities or shares.

Alternatively to condition b), holders of Residence Permit due to Investment Activity according to the provisions of article 16 under L. 4251/2014, may be applicable as well.

As a consequence, the taxpayer pays each tax year as a flat tax the amount of one hundred thousand euro (100.000) regardless the height of the income which was acquired abroad. In addition, the taxpayer may request to extend the implementation of this alternative taxation to his/her relatives. Upon this case a tax is paid of height estimated at twenty thousand euro (20.000) for each relative and the provisions of the taxation regarding donations, inheritances and parental benefits are not implemented.

In order to appertain to the above Tax system, the taxpayer shall submit an application to the Tax Authority until the 31st of March of each tax year. Within sixty (60) days upon the submission of the application the Tax Authority examines the application and issues a decision according to which it is approved or dismissed.

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