Greece has established a new law which introduces an undivided tax ratio of 7% on the income of foreign pensioners who will transfer their tax residence in Greece. The undivided ratio will be applied on all foreign incomes, regardless of their form.
In order to accomplish the above, you must fulfill two conditions: not be a tax resident of Greece for the prior five years and move from a country with a related co-operation agreement with Greece.
This scheme will be applied only to pensioners from countries with which Greece has a double-taxation agreement, while the competent individuals mention that it can not be implicated to citizens from other countries.
Athena Kalyva, the head of tax policy of Greek Ministry of Finance, declared: “We hope that pensioners who benefit from this attractive tax ratio will spend most of their time in Greece investing in renting or purchasing a residence.
Following its successful handling of the coronavirus pandemic – the country’s infection rate and death toll remain among the lowest in Europe – Athens is also betting on changing perceptions of the country’s overall competence.
“We want to build on the brand name Greece, and capitalise on what has been achieved,” adds Alex Patelis, chief economic adviser to Athens. “Once the pandemic subsides, we believe capital and labour will move to places that did relatively better.”