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Greece’s Non-Dom Tax Program

Greece’s Non-Dom Tax Program

Greece's Non-Dom Tax Program

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There are several countries in Europe that have special tax regimes that new residents can take advantage of. A destination that is attracting many foreign investors is Greece. Investors and residents can make use of Greece’s Non-Dom Tax Program.

What is Greece’s Non-Dom Residence Tax Program? 

The Non-Dom Taxpayers Program is a tax regime in Greece designed to attract high net worth individuals (HNWIs) and business owners who do not reside in the country. It offers a flat tax rate on Greek-sourced income and exempts all other income earned outside of Greece from taxation. Additionally, the program provides exemptions from Greek inheritance and gift tax.

Who can apply to the Greek Non-Dom Residence Tax Program? 

The Greek Non-Dom Residence Tax Program is open to all foreign nationals who have not been a tax resident in Greece in the last seven or eight years. Applicants need to prove that they can invest personally in Greece and will take up tax residence under the 183 day rule. Individuals need to invest at least €500,000, an investment which must be completed within three years from the date on which the application is submitted.

Can Golden Visa Holders apply to Greece’s Non-Dom Residence Tax Program? 

Yes, Golden Visa holders can apply to Greece’s Non-Dom Residence Tax Program. However, they must meet the same financial requirements as all other applicants using the non-dom taxation program. 

What are the benefits of the Greek Non-Dom Residence Tax Program? 

For each tax year, an individual participating in the Non-Domestic Taxpayers Program must pay a flat tax rate of €100,000, and each related person (e.g. family member) must pay an additional €20,000. After paying this tax, the individual is no longer liable to pay any additional income tax on foreign-sourced income. 

However, they are still subject to tax on Greek-sourced income, as outlined in the Greek Income Tax Code. Additionally, they are exempt from inheritance or gift tax for assets located outside of Greece. The program also offers tax exemptions on certain types of income, including inheritance and gift taxes. 

Individuals can make use of the Greek Non-Dom taxation program for fifteen years.

What is the process for applying to Greece’s Non-Dom Residence Tax Program? 

The process for applying to Greece’s Non-Dom Residence Tax Program involves submitting an application to the Department for Alternative Taxation of Residents of Greece/the Residents Abroad Tax Office. Applicants must provide proof of identity, proof of financial resources, and proof of residence in Greece. Once the application is approved, applicants will receive a certificate of Non-Dom residence. 

Can a person apply to Greece’s Non-Dom Residence Tax Program before gaining a residence permit? 

Yes, a person can apply to Greece’s Non-Dom Residence Tax Program before obtaining their residency. However, applicants will need to provide proof of their residence application for Greece in order to be approved for Non-Dom status. 

How can I learn more about Greece’s Non-Dom Residence Tax Program?

The best way to learn more is by contacting the team at MOVEANYWHERE to book a comprehensive consultation. The team is experienced in assisting all clients with Non-Dom status in multiple European countries and will cover all the basics.

The MOVEANYWHERE’s team assesses your individual circumstances and takes into account your current tax burden, income streams, asset portfolio, potential tax requirements, family composition and possible tax benefits, to find the best solution for you. All you need to do is contact us today.