Greece
Ancient Country. Modern Tax Break.

Greece is a southeastern European country of 10.4 million people, an EU member since 1981, a Schengen member, and a Eurozone member since 2001. Capital: Athens (population 3.7 million in the greater metropolitan area). Greece has 6,000 islands and islets, of which approximately 200 are inhabited. The mainland borders Albania, North Macedonia, Bulgaria, and Turkey. The coastline extends over 13,700 kilometres — the 11th longest in the world.

The standard Greek income tax system is not competitive — progressive rates run from 9% at the bottom to 44% at the top on income above €60,000/year, with a 39% interim bracket on €40,000–€60,000. Corporate tax is 22%. These are not rates that attract internationally mobile high earners.

What makes Greece genuinely interesting for tax planning is three separate special regimes for qualifying movers, each targeting a different type of internationally mobile individual:

• ›Article 5A (Non-Dom Lump Sum): Ultra-HNWIs who transfer their tax residency to Greece and invest at least €500,000 in Greece pay a fixed €100,000/year on all worldwide foreign-source income, regardless of its actual size. This is available for up to 15 years.
• ›Article 5B (Foreign Retiree Flat Tax): Individuals who transfer their tax residency from a DTA or TIEA country pay a flat 7% tax on all foreign-source income — not just pension income, but all foreign income — for up to 15 years. No minimum investment required.
• ›Article 5C (50% Income Exemption): New residents who take up employment or self-employment in Greece can exempt 50% of their Greek employment or self-employment income from Greek income tax, for 7 years.

These regimes require genuine Greek tax residency — you must actually live in Greece to use them.

Greece operates three distinct special tax regimes under Articles 5A, 5B, and 5C ITC: the €100,000 non-dom lump sum for HNW investors, the 7% flat tax for foreign pensioners, and the 50% income tax reduction for new resident employees and entrepreneurs. From 2026, the standard top marginal rate is 44% above €60,000, with an interim 39% bracket applying on €40,000–€60,000.

Henry Miller arrived in Greece in 1939 at the invitation of Lawrence Durrell and spent nine months moving between Athens, Epidaurus, Delphi, and Corfu — and came away writing what he considered his best book. The Colossus of Maroussi is not a conventional travel book. It is an account of what Greece does to a person who arrives with enough openness to let it work. Miller experienced Epidaurus at night, alone in the ancient theatre where sound moves with impossible precision, and he experienced Delphi on the mountain in the early morning, and he came away with the conviction that Greece is the place where something essential about the Mediterranean — about Western civilisation, about human aspiration — is still visible and still alive. Sixty years on, the conviction still holds.

Athens in 2026 is a city that has been through a great deal and has emerged from it with something like renewed confidence. The debt crisis of 2010–2018 was devastating; recovery has been uneven but real. The Acropolis still rises above the city, visible from almost every elevated point, not as a ruin but as a presence — attended, lit at night, a continuous fact about where you are and what you are standing on top of. The northern suburbs — Kifissia, Ekali, Glyfada — are leafy and well-serviced; the Athenian Riviera from Vouliagmeni to Sounio has some of the finest beach restaurants in Europe within 30 minutes of the city centre. Autumn, winter, and spring in Athens are mild and uncrowded; the city belongs to its residents then.

The islands are the argument that requires no embellishment. Santorini and Mykonos are the famous ones — justifiably, even if their fame has complicated them. Paros, Naxos, Folegandros and Milos are the Cyclades that reward effort. The Ionian Islands — Corfu above all — are greener and more Venetian, facing Italy. Crete is an island large enough to be a separate country in sensibility: the Samaria Gorge, the Minoan palace at Knossos, the old town of Chania, the food of the Cretan interior — dakos, staka, wild greens with olive oil — which is genuinely the best regional cuisine in Greece.

Thessaloniki, the second city, is Byzantine and Ottoman and modern simultaneously, with a seafront — the waterfront promenade between the White Tower and the port — that has no equal in the Mediterranean. The food in Thessaloniki is generally agreed to be better than in Athens. The wine from the Macedonian hinterland — Naoussa, Amyndeon, Drama — is among the most interesting in Greece.

“In Greece one has the desire to bathe in the sky. You want to rid yourself of your clothes, take a running leap and vault into the blue. You want to float in the air like an angel or lie in the grass rigid and enjoy the cataleptic trance. Stone and sky, they marry here. It is the perpetual dawn of man’s awakening.”

— Henry Miller, The Colossus of Maroussi, 1941

“Greece is what everybody knows, even in absentia, even as a child or as an idiot or as a not-yet-born.”

— Henry Miller, The Colossus of Maroussi, 1941

“Marvelous things happen to one in Greece — marvelous good things which can happen to one nowhere else on earth. Somehow, almost as if He were nodding, Greece still remains under the protection of the Creator.”

— Henry Miller, The Colossus of Maroussi, 1941

Greece offers three distinct special tax regimes under Articles 5A, 5B, and 5C of the Income Tax Code (Law 4172/2013), each targeting a different profile of relocator: high-net-worth investors, foreign pensioners, and skilled employees/entrepreneurs. The regimes cannot be combined — each individual chooses one. Standard income tax is progressive from 9% to 44%; corporate tax is 22%. Law 5246/2025 ("Tax Reform for Demographics and the Middle Class"), in force from 1 January 2026, cut all employment and pension income tax brackets by 2 percentage points, introduced a new interim 39% bracket for €40,000–€60,000 income (the 44% top rate now applies only above €60,000), zeroed tax for workers under 25 on the first €20,000, cut Aegean island VAT by 30%, and began the phased abolition of ENFIA on rural primary residences.

• ›Article 5A — Non-Dom Regime for HNW Investors — €100,000 annual lump-sum tax on all foreign-source income (including foreign capital gains, dividends, interest, royalties); €20,000 per adult family member included; maximum 15 fiscal years. Requirements: €500,000 investment in Greek real estate, Greek businesses, or transferable securities within 3 years of application; not Greek tax resident in 7 of the preceding 8 years. Inheritance, gift, and parental grant tax does not apply to family members covered by the regime.
• ›Article 5B — Pensioner Regime — 7% flat tax on all foreign-source income (foreign pensions, foreign dividends, foreign interest, foreign rental, foreign capital gains); maximum 15 years. Requirements: prior tax residence in a country with administrative cooperation agreement with Greece; not Greek tax resident in 5 of preceding 6 years; foreign pension proof.
• ›Article 5C — Brain Gain Regime — 50% income tax reduction on Greek-source employment and self-employment income for 7 years; effectively halves the top marginal rate to ~22%. Requirements: not Greek tax resident in 5 of preceding 6 years; employment by a Greek company or self-employment in Greece; commitment to remain at least 2 years.
• ›Reduced 2026 income tax scale (Law 5246/2025) — 9% to €10,000; 20% to €20,000 (was 22%); 26% to €30,000 (was 28%); 34% to €40,000 (was 36%); 39% to €60,000 (NEW interim bracket); 44% above €60,000 (was above €40,000). Workers under 25 pay 0% on the first €20,000; ages 26–30 pay 9% (not 20%) on the €10,000–€20,000 bracket. Households with 4+ dependent children pay 0% on the €10,000–€20,000 bracket regardless of age.
• ›5% dividend withholding — lowest in the EU — combined with Article 5A, Greek dividend payments to non-dom residents are tax-efficient on both sides.
• ›Real estate capital gains suspended through 31 December 2026 — individuals selling Greek real estate pay 0% CGT through year-end 2026 under Article 90 of Law 5162/2024.
• ›No general wealth tax — only ENFIA on real estate ownership applies; from 2026 a 50% ENFIA reduction applies to primary residences in settlements with ≤1,500 inhabitants (full abolition from 2027), and a 20% reduction for primary residences with taxable value ≤€500,000 insured against natural disasters.
• ›Eurozone member with EU rights — Greek tax residents enjoy full EU mobility (Schengen); Greek citizenship is available after 7 years of legal residence (with Greek language test) and provides full EU citizenship.
• ›Comprehensive DTA network — over 60 double tax treaties including the US, UK, Germany, France, China, and most major economies; treaty benefits remain available alongside the special regimes for non-foreign-source income.

Greek tax residency is triggered by either:

• ›Spending 183 or more days in Greece in a calendar year, OR
• ›Having your habitual abode (primary home) in Greece

All three special regimes (5A, 5B, 5C) require genuine Greek tax residency. You must actually live in Greece — not maintain an address there while primarily living elsewhere.

• ›Application for special regime: In addition to establishing Greek tax residency, you must formally apply to the Greek tax authority (AADE) for registration under Article 5A, 5B, or 5C. The application is submitted in the calendar year following the first year of Greek tax residency (or in some cases in the same year). Required documents include: proof of prior tax residency in the previous country, proof of transfer to Greece, and for Article 5A, proof of the qualifying investment.
• ›Greek Tax Identification Number (AFM — Αριθμός Φορολογικού Μητρώου): Required for all financial and official transactions in Greece. Issued by the local tax office (Eforia). You need a Greek address, a passport, and a certified document proving your address to obtain one. This is typically one of the first administrative steps on arrival.

Greece has an extensive DTA network — over 55 active double tax agreements — including the United Kingdom, United States, Germany, France, Italy, the Netherlands, Switzerland, Belgium, Australia, Canada, Japan, China, India, and most EU member states.

• ›Specifically relevant for the Article 5B retiree regime: The requirement is that the individual transfers tax residency from a country that has a DTA or TIEA with Greece. The UK, Germany, Australia, Canada, the US, and all EU member states qualify. This makes the retiree regime accessible to the vast majority of our clients’ target nationalities.
• ›UK-Greece DTA: Under this treaty, UK private pension income (occupational pensions, personal pensions, SIPPs) paid to a Greek resident is generally taxable in Greece — meaning it falls within the Article 5B 7% flat rate. UK state pension and UK government service pensions may be treated differently. Take specific UK pension advice before relying on this position.
• ›Note: Greece taxes residents on worldwide income at the applicable special regime rate. The special regime rate (7% or €100,000 flat) applies to ALL foreign-source income — not just the type defined as “pension” under a treaty. The Article 5B regime is called the “pensioner regime” but the 7% flat rate applies to all foreign income received by a qualifying resident, including investment income, rental income from abroad, and business income.

Greece’s special regimes require genuine Greek tax residency — and genuine Greek tax residency requires genuinely living in Greece. Tax authorities in the UK, Australia, Canada, and the US have experience with Mediterranean relocation arrangements and look for genuine presence.

• ›United Kingdom. The SRT determines the date of UK non-residency. Spending more than 183 days per year in Greece while managing UK ties carefully should establish UK non-residency for most individuals. The critical issue: UK property retained for personal use is a statutory tie. A UK home that remains available for your use while you claim Greek residency is a significant SRT compliance problem.
• ›Australia. ATO domicile and 183-day tests apply. The purchase of a Greek home and genuine physical presence supports a claim of ceased Australian domicile. CGT Event I1 applies at departure.
• ›Canada. Residential ties analysis. The absence of a spouse/partner in Canada, no Canadian dwelling available for your return, and genuine Greek residence all support non-residency.
• ›Genuine presence in Greece is not burdensome. If you are using the Article 5B retiree regime, you presumably actually want to live in Greece — the 183-day requirement is not a constraint but a description of the lifestyle. The regime is designed for people who genuinely move to Greece.

Before you relocate to Greece, you need to understand what tax consequences arise in your current country of residence at the point of departure. Greece’s special regimes can be attractive, but they do not eliminate exit tax, temporary non-residence rules, pension taxation, or company-control risks in the country you are leaving.

• ›United Kingdom. SRT exit date. UK CGT on gains realised while UK-resident. Temporary non-residence rules for five years. UK-Greece DTA applies to ongoing UK-source income. UK private pension income paid to Greek residents: taxable in Greece at the Article 5B 7% rate under the treaty. UK state pension: specific advice required.
• ›Australia. CGT Event I1 at departure. Australia-Greece DTA applies. Australian superannuation pension phase: take ATO-specific advice.
• ›Canada. Departure tax at market value. Canada-Greece DTA applies; Greek tax on Canadian-source income flows: treaty-governed reduced withholding.
• ›United States. US worldwide taxation applies. US-Greece DTA in force.
• ›Germany. Exit tax under §6 AStG. Germany-Greece DTA in force.

Greece offers standard EU corporate structures with a 22% corporate tax rate — competitive within Southern Europe but not among the lowest in the EU:

• ›Anonymi Etaireia (A.E.) — Joint Stock Company: Standard large company structure. Minimum capital: €25,000. Corporate tax: 22%.
• ›Etaireia Periorismenis Efthynis (E.P.E.) — Limited Liability Company: More common for SMEs. Minimum capital: €1. Corporate tax: 22%.
• ›Idiotiki Kefalaiouhiki Etaireia (I.K.E.) — Private Capital Company: Modern streamlined structure introduced in 2012. Minimum capital: €1. Most popular for new businesses and startups. Corporate tax: 22%.
• ›Dividend withholding: 5% on dividends distributed to individuals.
• ›Combined rate on fully distributed profits: Approximately 25.9% (22% corporate + 5% on remaining 78%) — competitive with EU peers.

Is a local company always the right answer?

Not necessarily. For internationally mobile individuals using Greece's special tax regimes — the Non-Dom lump sum (Article 5A), the pensioner flat tax (Article 5B), or the 50% exemption (Article 5C) — the personal tax position in Greece is the primary planning lever. The corporate structure is a separate question, and for many clients it is more tax-efficient to operate through a company incorporated in a lower-tax jurisdiction outside Greece — and receive income in Greece at the applicable special regime rate.

Under Greece's special regimes, foreign-source income is taxed at a flat rate (7% for Article 5B retirees, €100,000 lump sum for Article 5A non-doms) regardless of how much income is received. This means the corporate-level tax rate of the entity generating that income directly affects the net return — a 0% corporate tax structure generating €500,000 in profit, distributed as dividends to a Greece-resident Article 5B retiree, results in a total tax burden of 7% of that income (the flat Greek personal rate). A 22% Greek corporate structure generating the same profit results in a much higher effective combined burden.

Popular international structures for Greece-resident entrepreneurs and investors include:

• ›US LLC (single-member, disregarded entity): No US corporate tax if the owner is a non-US person. Income flows through to the individual and is taxed in Greece at the applicable special regime rate — 7% for Article 5B retirees, or included in the €100,000 lump sum for Article 5A non-doms.
• ›Singapore company: 17% headline rate with SME exemptions. Well-suited for clients with Asian business ties or who need a highly credible jurisdiction for their operating entity.
• ›UAE company (mainland or free zone): 0% on qualifying income. Distributions to a Greek Article 5A non-dom are covered by the annual €100,000 lump sum — regardless of the amount distributed. This makes the UAE company + Greek non-dom combination one of the most efficient structures available in any EU jurisdiction.
• ›Cyprus company (12.5%): Given the Greece-Cyprus DTA and the EU-level relationship, a Cyprus operating company is commonly used by Greek residents. The 12.5% Cyprus corporate rate + 5% dividend withholding produces a combined rate of approximately 16.9% — lower than a Greek company at 25.9% combined.

We help clients design the right international structure for their specific situation. Learn more about our company setup services →

2026 corporate update: Greece keeps a 22% standard corporate income tax rate. Dividend withholding is 5%, interest is 15%, real estate capital gains for individuals remain suspended through 31 December 2026, and Law 5246/2025 also introduced the new 2026 rental scale of 15% / 25% / 45%.

EU/EEA/Swiss citizens: Freedom of movement. Register with the local municipality (KEP — Citizen Service Centre) and the AADE for your AFM. After five years of continuous legal residence, apply for permanent residency (EU long-term resident status).

Non-EU citizens:

Golden Visa (Investment): Greece’s investor residency programme. As of 2024, the investment threshold has been raised:

• ›€800,000 in most areas of Greece (raised from €250,000)
• ›€400,000 in less-developed regions and islands with a population under 3,100 inhabitants (raised from €250,000)
• ›Investments can be in real estate, business, or certain financial instruments

The Golden Visa provides a 5-year renewable residence permit for the investor and immediate family. It does not require minimum stays in Greece. However, Golden Visa holders who do not spend 183+ days in Greece annually are not Greek tax residents and cannot access the special tax regimes.

Digital Nomad Visa: For remote workers employed outside Greece. Minimum demonstrated income: €3,500/month. One-year renewable visa. Provides legal residency but does not in itself trigger Greek tax residency if below the 183-day threshold.

2026 residence update: the Greek Golden Visa thresholds are €800,000 in Athens, Thessaloniki, Mykonos, Santorini, and islands with at least 3,100 residents; €400,000 in other regions; and €250,000 for qualifying commercial-to-residential conversions or restoration of listed buildings.

Greek citizenship by naturalisation requires 7 years of continuous legal residence (5 years for EU citizens). Requirements include: sufficient knowledge of the Greek language (B1 level), knowledge of Greek history and culture, and a clean criminal record.

The special tax regimes run for 15 years (Articles 5A and 5B) or 7 years (Article 5C). For those on 15-year regimes, citizenship eligibility during the regime period is possible.

Greece permits dual citizenship — you do not need to renounce your existing nationality.

A Greek passport provides EU citizenship rights and visa-free access to 186+ countries, including the US (via ESTA), UK, Canada, Japan, and Australia.

Greece has four main systemic banks — National Bank of Greece, Piraeus Bank, Alpha Bank, and Eurobank — all of which underwent significant recapitalisation during and after the 2010–2015 financial crisis and are now under European Central Bank supervision. All offer SWIFT transfer capability, EUR accounts, and increasingly functional digital banking platforms. Local accounts are useful for day-to-day expenses, rent, utilities, and for the documentation requirements of the Greek tax authority (AADE) when establishing tax residency.

Opening an account requires Greek Tax Identification Number (AFM), passport, proof of Greek address, and source-of-funds documentation. For non-residents, account opening can be challenging without a local address — establishing Greek residency and obtaining an AFM is the practical prerequisite.

Where to hold your main accounts

For internationally mobile individuals and entrepreneurs using Greece's special tax regimes, it is generally advisable to maintain your primary banking relationships outside Greece, in a jurisdiction with stronger international banking infrastructure and a broader range of investment and private banking services. The Greek banking sector, while stabilised, carries residual reputational caution among some international private banks and counterparties — a reflection of the crisis years that has not entirely dissipated. For HNWI clients on the Non-Dom regime (Article 5A) or the pensioner flat-rate regime (Article 5B), whose financial affairs are international by nature, the primary banking relationship is typically held elsewhere.

Jurisdictions we frequently recommend for primary international banking include:

• ›Switzerland — private banking tradition, multi-currency accounts, strong asset protection, and extensive experience with internationally mobile high-net-worth clients. The Switzerland-Greece combination is straightforward: Greece provides the EU residency and the attractive special tax regime; Switzerland provides the investment management and private banking infrastructure. The Greece-Switzerland DTA is in force.
• ›Singapore — Asia-Pacific hub, excellent international wire infrastructure, and strong regulatory framework. Useful for clients with business or investment exposure to Asian markets.
• ›United States — US dollar accounts at major US banks are universally accepted. Useful for USD-denominated investments and for clients with North American financial ties.
• ›Georgia (Caucasus) — straightforward account opening for non-residents, low fees, and a solid banking system for its size. Useful as a secondary account for transaction flexibility.

We help clients identify the right banking structure for their specific situation. Learn more about our offshore banking services →

• ›EU membership, Schengen, Eurozone. For British nationals, Australian nationals, or others from outside the EU, Greek residency provides EU residence, freedom of movement across the Schengen Area (26 countries), and access to an EU passport through naturalisation. This is a significant benefit that goes beyond the tax rates.
• ›The lifestyle. The Mediterranean diet is not a cliché — it is genuinely healthy, genuinely delicious, and genuinely available everywhere. Greek olive oil, fresh fish, tomatoes that taste like tomatoes, sheep’s milk cheeses, honey from Attica — the food culture is among the finest in the world and available at reasonable cost outside the tourist areas. The pace is slower. The sea is close.
• ›Cost of living. Outside Athens and the major tourist islands, Greece is extremely affordable. A comfortable retirement lifestyle in Crete, the Peloponnese, Thessaloniki, or a quiet Aegean island costs far less than in most Western European countries. Rent for a well-appointed 3-bedroom house in a Cretan village: €600–1,000/month.
• ›The islands. Over 200 inhabited Greek islands, each with its own character. Corfu for the Venetian architecture and lush green hills. Paros for the village life and calm waters. Hydra for the car-free bohemian atmosphere. Crete for everything — mountains, beaches, Minoan ruins, the best food in Greece. The island choice is part of the planning.
• ›The winters. This is the secret the tourism industry does not promote: winter in Athens, Crete, or the southern islands is genuinely pleasant. Athens in November: 18°C, clear skies, the Acropolis to yourself. Crete in February: almond blossom, tavernas full of locals, hotel rooms for a fraction of summer prices. The country belongs to its residents in the off-season.

Greece can be excellent value outside the most fashionable islands and central Athens. The realistic budget depends heavily on island versus mainland, schooling needs and whether private healthcare is used.

Typical monthly costs for an internationally mobile professional or family in Greece (2026 planning ranges):

• ›Comfortable single professional (no children): €2,600–4,800/month (£2,200–4,050 / $2,800–5,200)
• ›Family of four with private schooling: €6,000–11,050/month (£5,050–9,350 / $6,500–12,000)

These figures are planning ranges, not promises. The actual budget in Greece depends heavily on housing quality, neighbourhood, school choice, healthcare needs, car ownership, travel frequency, and whether you are trying to live like a local or maintain a Western expatriate standard.

EU nationals can purchase property in Greece without restrictions. Non-EU nationals can generally purchase residential property, though purchases near military zones and certain border areas require special permits.

Price ranges (2026):

Transaction costs:

• ›Transfer tax: 3.09% of property value (objective value set by AADE)
• ›Notary fees: approximately 1–1.5%
• ›Legal fees: approximately 1–1.5%
• ›Real estate agent commission: typically 2–3%
• ›Total buyer costs: approximately 6–9% of purchase price

• ›Due diligence is essential. Greek property titles and planning permissions have historically been complex — incomplete ownership records, unauthorised constructions, and disputed coastal zone classifications are real risks. Engage a Greek property lawyer (not the seller’s lawyer) and conduct a full land registry search before any purchase.
• ›Golden Visa through property: The €800,000 threshold (most areas) or €400,000 (qualifying regions) investment in Greek real estate qualifies for a 5-year renewable Golden Visa. Note that this threshold is the investment amount, not the market value — the actual purchase price must meet or exceed the threshold.

Greece has become one of the most popular retirement destinations in Europe for British nationals since Brexit removed freedom of movement. The combination of the Article 5B 7% flat tax and the EU residency that Greek residency provides makes it particularly attractive for British retirees who want to remain in the EU.

Article 5B for retirees — the specific mechanics:

• ›7% flat tax applies to all foreign-source income: pensions, dividends, rental income from abroad, interest
• ›Applied on gross foreign income — no deductions or allowances reduce the base
• ›Due by the end of June each year for the preceding tax year
• ›No minimum pension amount required; no maximum income cap

UK pension treatment under the UK-Greece DTA:

• ›UK private pensions (occupational, personal, SIPP): generally taxable in Greece at 7% under Article 5B (treaty allocates taxing rights to country of residence)
• ›UK state pension: specific provisions may apply; take UK-qualified pension advice
• ›UK government service pensions (civil service, military, NHS): may remain taxable in the UK regardless of Greek residency — take specific advice

Healthcare: Greece’s public health system (ESY) is available to legal residents who contribute to Greek social insurance (EFKA). Many expat retirees use private health insurance as a primary choice — approximately €1,000–3,000/year for comprehensive cover. Quality at top private hospitals in Athens (Hygeia, Metropolitan, Iaso) is good.

US citizens and long-term green card holders are taxed by the United States on their worldwide income, regardless of where they live. Relocating to Greece does not end US tax obligations — it changes the picture, but does not eliminate it.

Key considerations for US citizens in Greece:

• ›Foreign Earned Income Exclusion (FEIE): US citizens who qualify as bona fide residents of Greece or pass the physical presence test can exclude a significant amount of foreign earned income from US federal income tax. This applies to wages and self-employment income — not passive income such as dividends, interest, capital gains, pensions, or rental income.
• ›Foreign Tax Credit: Income tax paid in Greece can generally be credited against US tax on the same income, reducing or eliminating double taxation. The credit is particularly important for income not covered by the FEIE and for taxpayers whose income exceeds the annual FEIE threshold.
• ›Treaty position: The United States and Greece have an income tax treaty; social-security coordination requires separate analysis. A treaty does not automatically remove US filing obligations, and most treaties contain savings-clause rules that preserve US taxation of citizens.
• ›FBAR: US persons with bank accounts in Greece exceeding $10,000 in aggregate must file FinCEN Form 114 (FBAR) annually. Failure to file can carry severe penalties, even when no tax is due.
• ›FATCA: US citizens may also need to report foreign financial assets on Form 8938. Banks in Greece may separately identify US account holders under FATCA procedures and report account information through the relevant channels.
• ›Social Security and self-employment tax: The FEIE reduces income tax but does not automatically eliminate US self-employment tax. Whether US Social Security tax applies depends on employment status, entity structure, and any applicable totalization agreement.

US citizens considering Greece should work with a qualified US international tax adviser alongside local counsel. The interaction between US tax law and Greece tax law is manageable, but it requires careful planning before the move, not after the first filing deadline arrives.

Which regime is right for me?

• ›Very high foreign income (>€2M/year) and willing to invest €500,000 in Greece: Article 5A
• ›Foreign pension or investment income at any level, transferring from a DTA/TIEA country: Article 5B
• ›Taking up employment or self-employment in Greece: Article 5C
• ›Standard residency (not a special regime): you pay standard Greek rates (9%–44%)

• ›Must I apply for the special regime in the same year I arrive? The Article 5B and 5A applications are typically submitted in the first year of Greek tax residency. The specific deadline and procedure should be confirmed with a Greek tax adviser — the process requires specific documentation and AADE submission.
• ›Does Article 5B apply to Greek-source income too? No. The 7% flat rate under Article 5B applies to foreign-source income only. Greek-source income — Greek employment, Greek business profits, Greek rental income, dividends from Greek companies — is taxed at standard Greek progressive rates (9%–44%).

What is the recommended order of steps?

1. 1.Home-country departure tax analysis (particularly pension treaty position for UK nationals)
2. 2.Visit Greece for an extended stay — several regions — to identify where you want to live
3. 3.Engage a Greek tax adviser and property lawyer
4. 4.Identify property to rent or purchase
5. 5.Obtain Greek AFM (Tax Identification Number)
6. 6.Establish 183-day presence in first tax year
7. 7.Submit Article 5A/5B/5C application to AADE
8. 8.Notify home-country tax authority of departure
9. 9.Present Greek tax residency certificate to home-country authority

Greece participates in the OECD Common Reporting Standard (CRS), the global framework for automatic exchange of financial account information between tax authorities. Greece has been exchanging information with partner jurisdictions since 2017.

In practical terms, this means: if you hold bank accounts or financial assets in Greece, the financial institution in Greece will report your account details — balance, income, and identifying information — to the local tax authority, which will then automatically share this information with the tax authority of your country of tax residence.

The key point is that CRS follows tax residence, not nationality or citizenship. For example, a Swedish citizen who has genuinely become tax resident in Greece is treated, for CRS purposes, as a tax resident of Greece — not as a Swedish reportable person merely because of the passport. The same principle applies to any non-US nationality: the account should be reported to the country of tax residence, not automatically to the country of citizenship.

CRS does not create a tax liability — it creates transparency. If you are properly tax resident in Greece and have correctly severed residency in your home country, CRS reporting simply confirms what should already be declared. The risk arises when individuals attempt to maintain dual residency, leave old tax-residence indicators unresolved, or claim Greece residency without genuinely living there.

US citizens are different. The United States does not participate in CRS in the same way. Americans are affected by FATCA instead: banks outside the United States generally identify US persons and report their account information through FATCA channels to the US authorities, regardless of whether the person is tax resident in Greece or anywhere else.

Upon establishing residence in Greece, you will need to obtain a AFM (ΑΦΜ) tax number from the competent local authority. This is required for most financial and legal transactions in Greece, including opening bank accounts, signing contracts, registering with tax authorities, and dealing with public offices.

You will also need to obtain or complete the relevant Greek residence registration / biometric residence card process once your residence status has been approved. This document or registration record becomes your practical proof of residence in Greece and is usually required for banking, telecom contracts, utilities, leases, property transactions, and day-to-day administrative matters.

• ›Driving licences from most countries are accepted only for a limited period after arrival. Once you become resident in Greece, you should verify whether your licence can be exchanged directly or whether a local medical certificate, translation, theory test, or practical test is required.
• ›Health insurance should be arranged before arrival unless you are immediately covered by a local public system. In many cases, private international cover is the safest bridge solution while residence, employment, or social-security registration is still being completed.
• ›Importing personal effects should be planned before shipping anything to Greece. Household goods may qualify for relief when imported shortly after taking up residence, but customs paperwork, inventory lists, timing rules, and vehicle-import duties can make late or informal shipping expensive.
• ›Proof of address and banking are often linked. Banks, telecom providers, and government offices may require a lease, utility bill, local address certificate, or residence registration before they will open an account or complete onboarding.
• ›Ongoing local compliance should not be treated as an afterthought. Calendar reminders for residence renewals, tax registrations, local filings, health-insurance renewals, and address updates help prevent administrative problems that can later undermine the tax-residency position.

We offer comprehensive tax and legal support for your relocation to Greece. We follow a proven process — and where Greece requires specialist local input, we involve appropriately qualified local tax, legal, immigration, and banking advisers on the ground, while remaining responsible for overall coordination.

The results speak for themselves: we have helped over 100 entrepreneurs and business owners significantly reduce their tax burden through carefully planned relocations. Careful planning, thorough advice, and comprehensive support are our standard. Legally sound structuring within the framework of international tax law is our highest priority.

Our services typically include one or more of the following:

Our fees are generally billed on a time basis; fixed prices apply for certain services such as company formation.

As a first step, we recommend booking a consultation to discuss your plans — by phone, Zoom, or Signal. Together we find the best approach and establish contact with our local partner. As project coordinator, we keep all the threads in hand that are necessary for the successful implementation of your plans.