Introduction:

In recent years, Greece has actively positioned itself as an attractive destination for international investors, entrepreneurs, and individuals seeking favorable tax treatment. While traditionally known for its rich history, natural beauty, and lifestyle appeal, Greece’s government has recognized the importance of fiscal competitiveness and has introduced a series of tax incentives designed to attract foreign capital and high-net-worth individuals. These initiatives are part of a broader national strategy to revitalize the economy after years of financial adjustment programs and to establish the country as a credible hub for international business and residency.  

For foreign individuals, one of the key draws is Greece’s special tax regimes aimed at expatriates and retirees. Notably, pensioners relocating from abroad can benefit from a flat tax rate of just 7% on their worldwide income for a period of 15 years, provided they fulfill certain residency requirements. Similarly, Greece offers a non-dom regime for high-net-worth individuals, under which they can opt to pay a fixed annual tax of €100,000 on their foreign-sourced income, regardless of the amount earned outside Greece. Professionals relocating to Greece can also enjoy favorable tax reductions on employment and self-employment income, reinforcing the country’s broader plan to attract international talent.  

For businesses, Greece has modernized its corporate tax framework by lowering corporate tax rates to competitive levels compared to the European average. Combined with its membership in the European Union and access to the common market, the country offers a gateway for companies looking to establish a presence in Southeastern Europe while benefiting from improved fiscal stability. Targeted investment incentives, especially in areas such as renewable energy, tourism, and technology, further strengthen Greece’s appeal for inbound business activity.  

Another decisive advantage for both individuals and companies is the network of double taxation treaties that Greece has signed with other countries. These treaties ensure that income is not taxed twice, providing clarity and predictability for cross-border residents and investors. Particularly relevant are Greece’s agreements with Germany, Austria, and Switzerland—three countries with strong economic ties to Greece and significant expatriate communities. These treaties facilitate investment flows, enhance legal certainty for businesses, and create a more efficient environment for expatriates choosing Greece as their new tax residence.  

Taken together, these policies underscore the fact that Greece is no longer relying solely on lifestyle factors to attract foreign interest but is actively reshaping itself as a tax-competitive jurisdiction. For Germans, Austrians, and Swiss nationals in particular, the combination of favorable domestic tax regimes, treaty protection, and access to a dynamic regional market makes Greece an increasingly compelling “tax paradise” within Europe.  

On the Map & What Others Say

Situated in the southeastern corner of Europe, Greece occupies a strategic position at the crossroads of Europe, Asia, and Africa. It shares land borders with Albania, North Macedonia, Bulgaria, and Turkey, while its extensive coastline stretches along the Aegean, Ionian, and Mediterranean Seas. The country consists of a mountainous mainland and more than 6,000 islands and islets, of which around 200 are inhabited. This unique geography not only shapes Greece’s climate and biodiversity but also underpins its historical and cultural prominence as the cradle of Western civilization.  

Beyond its physical setting, Greece has long captured the imagination of travelers, expatriates, and lifestyle writers. Travel magazines frequently highlight its unparalleled combination of natural beauty and cultural depth. A feature in National Geographic Traveler praised the country’s islands for their “dramatic coastlines, whitewashed villages, and a rhythm of life that balances tradition with modern hospitality.” Similarly, the Lonely Planet guide describes Greece as “a place where ancient monuments and vibrant street life coexist in a timeless atmosphere.”  

Travel bloggers often emphasize the lifestyle appeal of Greece, particularly its emphasis on leisure, family, and community. One popular expat travel writer summarized the experience as “slow mornings by the sea, long afternoons spent over shared meals, and a pervasive sense that life is meant to be savored rather than rushed.” Others note the charm of its diverse landscapes—from bustling Athens to quieter rural villages—each offering a different rhythm of life.  

Overall, Greece’s geographical position and cultural identity make it not only a key destination for travelers but also a source of attraction for those seeking a lifestyle that blends Mediterranean ease with rich historical and cultural legacies.  

How the Tax System Works in Greece

Greece operates a modern tax system that is largely aligned with European Union standards while retaining certain features specific to its economic and social landscape. The system is administered by the Independent Authority for Public Revenue (IAPR), which oversees the assessment and collection of taxes. For individuals and businesses, taxation in Greece can be complex, given the interplay between national rules, EU directives, and international treaties.  

At its core, the Greek tax system is structured around three main components: personal income taxation, corporate taxation, and indirect/other taxes. Each of these plays a significant role in funding public services and shaping the economic environment.  

Personal income tax in Greece is progressive, applying higher rates to higher tiers of income. Taxable income generally includes employment earnings, business profits, rental income, and dividends. The annual personal tax-free allowance is modest, roughly equivalent to around USD $10,000, with rates rising progressively thereafter. Specific deductions and credits may apply, especially for families and lower-income taxpayers.  

Corporate taxation is levied on both resident and non-resident companies operating in Greece. Resident companies are taxed on their worldwide income, while non-resident entities are taxed only on income earned within Greek territory. The standard corporate income tax rate currently sits around 22%, which is broadly in line with average corporate tax rates across Europe. Greek tax authorities have also introduced a number of incentives—including reduced rates for certain sectors and favorable schemes for foreign investors—to attract capital and business activity.  

Indirect taxes and other levies make up a substantial share of government revenue. Value Added Tax (VAT), the most significant indirect tax, is generally imposed at a standard rate of 24%, one of the higher rates within the EU, though reduced rates apply to certain goods and services, such as food, pharmaceuticals, and essential transportation. Additional taxes, such as property taxes, inheritance and gift taxes, and social security contributions, also have a meaningful impact on both residents and investors. For example, the unified property tax (ENFIA) is applied annually and can range from a few hundred to several thousand US dollars depending on the size, value, and location of the property.  

In summary, Greece’s tax system combines progressive personal taxation, competitive (though not the lowest) corporate rates, and relatively high indirect taxes. Each of these areas carries specific rules, exemptions, and compliance obligations that can significantly affect both individuals and businesses. In the following sections, we will look more closely at personal taxes, corporate taxation, and other taxes and contributions, exploring how they work in practice and what they mean for residents, expatriates, and investors alike.  

Taxation of Individuals

Greece imposes personal income taxation based on whether an individual is considered a tax resident or a non-resident. Tax residency is determined primarily by the location of a person’s permanent home or center of vital interests, as well as the number of days spent in the country (generally, more than 183 days in a tax year triggers tax residency).  

Tax Residents

Greek tax residents are taxed on their worldwide income, regardless of the source. Income is categorized into different types—employment and pension income, business income, capital income (such as dividends, interest, and royalties), and capital gains—with each category subject to separate rules. For employment and pension income, the progressive tax rates for 2024 are:  

• Up to €10,000: 9%  

• €10,001–€20,000: 22%  

• €20,001–€30,000: 28%  

• €30,001–€40,000: 36%  

• Over €40,000: 44%  

For example, a Greek tax resident earning €25,000 in employment income would pay 9% on the first €10,000, 22% on the next €10,000, and 28% on the remaining €5,000. This results in a total tax liability of €4,960 before considering deductions and credits.  

In addition to income tax, most individuals also pay a “solidarity contribution” on annual income over €12,000, although recent reforms have reduced its application for certain categories of income.  

Residents may benefit from various deductions, including for medical expenses, charitable donations, and—most importantly—mandatory social security contributions. There is also a tax credit for wage and pension earners, which can reduce the effective tax liability for low- and middle-income taxpayers.  

Non-Residents

Non-residents are taxed only on income sourced in Greece. This includes employment exercised within Greece, business profits generated in the country, and income from Greek real estate. The same progressive rates apply to employment or business income, but non-residents generally cannot claim most deductions or credits available to residents. For passive income such as dividends, interest, and royalties, withholding taxes apply at rates typically ranging from 5% to 15%, subject to reduction under applicable double tax treaties.  

Special Tax Regimes for Expats and Digital Nomads

In recent years, Greece has introduced favorable schemes to attract foreign residents, retirees, and remote workers:  

• Foreign Pensioners Regime: Individuals who transfer their tax residence to Greece and receive foreign pension income may benefit from a flat 7% tax rate on all foreign-sourced income for up to 15 years, provided they relocate from a country with which Greece has a tax treaty.  

• Non-Dom Regime for High Net Worth Individuals: Eligible individuals can opt to pay a flat annual tax of €100,000 on their foreign-sourced income, regardless of the amount, with the possibility of extending the regime to family members for an additional €20,000 per person.  

• Employment and Digital Nomad Incentives: A 50% income tax exemption is available for up to seven years for qualifying employees and self-employed individuals who relocate to Greece after a prolonged absence and take up new employment in the country. This regime is particularly attractive for digital nomads and returning Greeks.  

Through its combination of progressive income taxation, targeted exemptions, and special regimes for foreign residents, Greece aims to balance revenue collection with incentives to attract international talent and investment. For expatriates and mobile workers, these rules can significantly shape the after-tax outcome of relocating to or earning income from Greece, making careful planning essential.  

Taxation of Corporations

Greece imposes corporate income tax on both resident and non-resident companies operating in the country. Resident corporations—those incorporated in Greece or whose place of effective management is located there—are taxed on their worldwide income. Non-residents, by contrast, are subject to tax only on income derived from Greek sources.  

The standard corporate income tax rate in Greece is currently 22%, which is in line with the average across the European Union but lower than some neighboring states in Southeastern Europe. This rate applies uniformly to most corporate entities, including Greek sociétés anonymes (A.E.) and limited liability companies (E.P.E.). For credit institutions such as banks, an additional levy may apply, pushing the effective taxation slightly higher.  

In terms of deductible expenses, Greek tax law generally permits businesses to deduct costs incurred wholly and exclusively for the generation of taxable income. This includes salaries and social security contributions, professional and technical service fees, rent, utilities, advertising, interest (subject to thin capitalization and anti-avoidance restrictions), and depreciation on fixed assets. For example, depreciation deductions are available for buildings, machinery, and equipment, subject to prescribed rates. Entertainment expenses and certain luxury outlays are either restricted or nondeductible. Losses can typically be carried forward for up to five years, but carrybacks are not allowed.  

To encourage investment, Greece has introduced a series of incentive schemes. These include accelerated depreciation allowances for certain high-tech equipment, grants or subsidies for projects in research and development, and partial tax exemptions for reinvested profits. The country also participates in EU-funded regional development programs, which provide tax credits or cash subsidies for businesses setting up in less-developed areas. For instance, under the Investment Incentives Law, a company establishing a facility in northern or western Greece may qualify for state aid covering a percentage of initial capital expenditures.  

In addition, special economic zones and free zones exist around some major ports, such as Piraeus and Thessaloniki, where companies engaged in import-export or logistics activities may benefit from customs and VAT suspensions. This can significantly improve cash flow for businesses dealing with international trade. 

Overall, while the statutory tax rate of 22% places Greece in a moderately competitive position, the real benefit for corporations often lies in the country’s set of incentives targeting foreign investors, innovative industries, and export-driven businesses. For international companies, this means that establishing a subsidiary in Greece can not only provide access to the EU market but also create meaningful tax efficiencies, particularly for operations tied to regional development programs and free trade activities.  

(As a reference point, a Greek company earning the equivalent of around USD 10 million in taxable profits would expect a corporate tax liability of approximately USD 2.2 million, before considering deductions, incentives, or credits.)

Other Significant Taxes

Beyond personal and corporate income taxes, Greece maintains a range of other significant taxes that individuals and businesses should carefully consider when evaluating their overall tax exposure. These levies impact not only investment income and asset holdings but also consumption and wealth transfers.  

Capital Gains Tax  

Capital gains tax in Greece applies to different categories of assets:  

• Securities: The sale of shares in non-listed companies is generally taxed at 15%, while transfers of shares in listed companies (on regulated stock markets) are usually exempt, provided an investor does not hold more than 0.5% of the company’s share capital.  

• Real Estate: A 15% capital gains tax technically applies on the sale of real estate purchased after 2014. However, this tax has been under repeated suspension due to administrative and market concerns. For practical purposes, sellers of Greek property have not been subject to capital gains tax in recent years, though the law remains on the books.  

• Cryptocurrency and Other Digital Assets: Gains from crypto transactions are generally treated like gains on securities and taxed at 15%, though classification may vary depending on whether the taxpayer is considered to be engaging in professional trading.  

Dividend Taxation

Dividends distributed by Greek companies to individual shareholders are subject to a 5% withholding tax. For U.S. taxpayers and other foreign investors, relief may be available through tax treaties, though the domestic rate of 5% is already relatively low compared to many EU jurisdictions.  

Value Added Tax (VAT)

Greece applies a standard VAT rate of 24% on most goods and services, placing it among the higher rates in Europe. Reduced rates apply to essential categories: 13% for food, energy, and certain services, and a super-reduced 6% on items such as medicines and books. For a consumer, this means that a €100 restaurant bill (about USD $107) will already include close to €19 (USD $20) of VAT.  

Wealth and Property Taxes

Greece does not impose a net wealth tax, but property ownership is subject to the ENFIA tax (Unified Real Estate Property Tax). This consists of two components:  

• A main tax, calculated annually based on property location, size, age, and other criteria, typically adding up to a few hundred euros (~USD $300–600) per year for an average apartment.  

• A supplementary tax applies to taxpayers whose total property holdings exceed €250,000 (around USD $270,000), with progressive rates starting at 0.15%. Investors with property portfolios of USD $1 million or more can expect annual ENFIA liabilities in the range of USD $2,500–5,000 or higher, depending on valuations.  

Inheritance and Gift Tax

Greece taxes transfers of assets through inheritance or gift, with rates depending on the relationship between the donor/deceased and the beneficiary:  

• Group A (close relatives such as spouses, children, parents): up to 10% on higher-value inheritances, with substantial tax-free allowances (about USD $170,000 per beneficiary).  

• Group B (siblings, nieces/nephews, in-laws): rates up to 20%, with smaller allowances.  

• Group C (other relatives and non-relatives): up to 40% tax, with minimal allowances (just a few thousand dollars).  

Real estate gifts and inheritances are commonly structured carefully to utilize allowances and minimize exposure.  

Social Security Contributions  

Both employees and the self-employed in Greece are liable for social security contributions, which fund pensions, health care, and other benefits.  

• Employees contribute roughly 16% of gross salary, while employers contribute around 25%, for a total effective burden of about 41%. For someone earning €30,000 annually (about USD $32,000), employee contributions would amount to about USD $5,000, while the employer’s contribution exceeds USD $8,000.  

• Self-employed persons pay fixed contributions ranging from about €220 to €500 per month (USD $235–540), depending on the chosen insurance category, regardless of actual earnings.  

In summary, while Greece is known for its relatively moderate flat rates on dividends and capital gains, its tax system also features significant levies on consumption, property, and social security contributions. These additional taxes should be carefully accounted for in any financial or relocation planning, as they often represent a substantial portion of an individual’s or business’s overall tax burden.  

Who Benefits Most from Moving to Greece?

Relocating to Greece can be attractive for a diverse range of individuals, but the real degree of benefit depends on one’s financial circumstances, lifestyle preferences, and long-term goals. Greece has introduced a number of targeted tax regimes designed to attract foreign residents, some of which are particularly favorable for retirees, digital professionals, and high-net-worth individuals, while others will find the system less advantageous.  

Retirees  

One of the groups that stands to gain most from moving to Greece are foreign pensioners. Greece has implemented a special flat tax regime for retirees transferring their tax residence to the country, which generally provides for a reduced flat tax rate on pension income sourced abroad, often around 7%. This offers predictability and significant tax savings compared to progressive tax rates applied to Greek income. Combined with a comparatively low cost of living, quality healthcare access within the European system, and an appealing climate, Greece has become a retirement destination of increasing interest to Europeans and third-country nationals alike.  

Entrepreneurs and Investors  

Entrepreneurs and high-net-worth individuals may also find Greece appealing, especially under the so-called “non-dom” regime. Qualifying individuals who bring substantial investment into the country can opt for a flat annual tax payment on their foreign-sourced income, rather than being taxed at progressive Greek rates. Investors in Greek real estate, tourism, and emerging startups may also benefit from incentives tied to economic development programs. However, entrepreneurs running businesses with significant local operations should carefully assess payroll, social contribution obligations, and the administrative complexity of Greek bureaucracy, as these factors can offset some advantages.  

Digital Nomads and Remote Workers

In tandem with the broader “work from anywhere” trend, Greece has created a digital nomad visa that allows remote workers to relocate while benefiting from attractive provisions—such as a 50% reduction in employment income tax for eligible professionals who move their tax residence. For remote workers seeking a Mediterranean lifestyle, this represents not only a lifestyle upgrade but a tax-efficient decision, particularly in the initial years of residence. However, the long-term benefits diminish if one remains beyond the period of reduced taxation, as Greece’s ordinary progressive tax rates and mandatory social contributions can be relatively high compared to other digital nomad destinations. 

Who Might Not Benefit

Not everyone will find Greece suitable from a tax perspective. Salaried expatriates working for Greek employers may be less advantaged, since they will generally be subject to full local income tax and social security contributions, which are significant and can reduce net income quickly. Similarly, those with substantial income from actively managed foreign businesses but who do not qualify for flat tax regimes or special incentives may find the overall tax burden higher than in more low-tax jurisdictions. Additionally, compliance with local administrative procedures can be burdensome, which may frustrate those seeking a more streamlined environment.  

In sum, Greece provides compelling tax-linked opportunities for retirees seeking stable, predictable taxation, digital nomads enjoying temporary reductions, and investors able to access preferential regimes. On the other hand, traditional wage earners or mobile entrepreneurs without access to special regimes may find the fiscal and administrative environment less competitive than alternative destinations. For prospective relocators, the key is to assess both the potential tax incentives and the practical realities of life and business in Greece.  

Special Considerations for Relocation

Relocating to Greece requires careful preparation, as the legal, financial, and logistical frameworks differ from those in many other jurisdictions. Individuals intending to move should consider not only their immigration status but also practical aspects of daily life, such as access to healthcare, banking, and personal belongings.  

Residence Permits and Visas

The first and most critical step is establishing the legal right to reside in Greece. Citizens of the European Union (EU) and the European Economic Area (EEA) enjoy freedom of movement and can live and work in Greece without a visa, though registration with the local authorities may be required if staying beyond three months. Non-EU nationals must obtain the appropriate entry visa and apply for a residence permit, which varies based on purpose of stay—employment, investment, retirement, or study. Greece also offers a “Golden Visa” program granting residency to non-EU investors who purchase qualifying real estate or make other eligible investments. It is advisable to consult with immigration authorities or specialized counsel early, as requirements can differ significantly depending on nationality and purpose of residence. 

Healthcare System

Greece operates a public healthcare system (the National Health System, or ESY), providing coverage to residents who contribute to social security. EU/EEA citizens may initially rely on the European Health Insurance Card (EHIC) for access to necessary services during their transition. Non-EU nationals are typically required to arrange private health insurance as a condition of obtaining a residence permit. Private healthcare providers are widely available, often favored by expatriates for shorter waiting times and English-speaking staff. Prospective residents should anticipate the need for coverage documentation and budget appropriately for either public contributions or private insurance, depending on their circumstances.  

Opening a Bank Account  

Banking in Greece is essential for managing everyday expenses, especially as many local transactions require a Greek IBAN. To open an account, applicants typically need a valid passport or residence permit, tax identification number (AFM), proof of address, and in some cases, evidence of employment or financial resources. While some banks may be more accustomed to serving expatriates than others, bureaucratic requirements can be strict, and processing may take time. Establishing a local account early facilitates payment of utilities, rent, and social security contributions, and is often necessary for compliance with tax obligations.  

Importing Personal Items  

Bringing personal belongings into Greece can be done duty-free if they qualify as household goods accompanying a change of residence. EU citizens typically face fewer customs formalities, whereas non-EU nationals must provide residence documentation and may be required to show proof of intent to stay. Special rules apply when importing vehicles, with duties and taxes potentially payable unless exemptions are met. Careful inventory lists and supporting documents (invoices, registration papers, proof of previous residence) should be prepared in advance. To avoid delays and unexpected costs, many relocating individuals engage a relocation or customs broker familiar with Greek law and administrative practice.  

Overall, relocating to Greece involves navigating both legal requirements and practical arrangements. A structured approach—securing legal residency, arranging health coverage, setting up financial tools, and organizing the relocation of personal assets—ensures a smoother transition into the Greek system and daily life.

The 'Boris Becker Trap': Avoiding a Sham Relocation

When considering a relocation to Greece for tax purposes, it is critical to go beyond the formalities of a residence permit or a new address. Tax authorities in countries such as Germany, Austria, and Switzerland apply the principle of the “center of vital interests” to determine whether a person has genuinely shifted their tax residency. Merely obtaining a Greek tax identification number, leasing an apartment, or visiting the country occasionally will rarely be sufficient to sever ties with the prior jurisdiction.  

The so-called "Boris Becker trap" refers to the risk of executing only a superficial move abroad—claiming residence in a lower-tax jurisdiction while effectively continuing to live and work in the former home country. This approach has led to high-profile audits, prosecutions, and substantial back tax liabilities. Authorities in Central European states are particularly vigilant in scrutinizing affluent individuals who suddenly declare residence in Southern Europe without providing credible evidence of a genuine shift in lifestyle.  

To establish a defensible tax residence in Greece, one must demonstrate that the bulk of personal, family, and economic connections are genuinely rooted there. Indicators include permanent living arrangements, the presence of close family members, social and professional affiliations, business activities, and the habitual place of daily life. For example, if children continue to attend school in Munich, or if professional engagements are still centered in Vienna or Zurich, tax authorities may argue that the true center of vital interests has not moved, regardless of Greek registration.  

The consequences of being caught in a “sham relocation” are severe. If the prior home country deems that tax residency was never truly relinquished, the individual may face back taxes on worldwide income, penalties, and in some cases criminal prosecution for tax evasion. This not only nullifies the intended tax advantages of the move but also creates reputational and legal risks that can extend for years.  

In practice, a successful relocation strategy requires careful planning: genuinely spending sufficient time in Greece, consolidating personal and financial interests in the country, and ensuring that remaining ties to the former jurisdiction are minimal and secondary. Only by proving a real and demonstrable shift of one’s center of life can an expatriate avoid falling into the “Boris Becker trap.”  

What Makes Greece an Attractive Place to Live?

Greece offers a compelling mix of cultural richness, natural beauty, and a relaxed lifestyle that appeals to many expatriates seeking more than just favorable tax treatment. Beyond fiscal considerations, the country provides an environment that balances modern amenities with traditions stretching back thousands of years. 

One of Greece’s strongest attractions is its cultural and historical heritage. As the birthplace of democracy, Western philosophy, and significant artistic movements, Greece is home to countless archaeological sites, museums, and monuments — from the Acropolis in Athens to the Sanctuary of Delphi. This deep cultural foundation is not only of interest to visitors but also enriches daily life for residents, where festivals, traditions, and gastronomy remain integral.  

Lifestyle is another area where Greece stands out. The country is well known for its Mediterranean way of life, characterized by a slower pace, strong emphasis on family and community, and a celebrated food culture. The Greek diet — often cited as one of the healthiest in the world — emphasizes fresh produce, olive oil, seafood, and local wines. Coupled with a vibrant café culture and a lively social atmosphere, Greece offers opportunities for meaningful engagement and a balanced quality of life.  

Climatically, Greece enjoys over 250 days of sunshine annually, with warm summers and relatively mild winters depending on the region. This favorable weather supports an active outdoor lifestyle, making hiking, sailing, and swimming an integral part of everyday living. The natural environment is diverse, ranging from picturesque islands with whitewashed villages to mountainous interiors and fertile plains. This mix enables both tranquil island living and dynamic urban experiences in cities such as Athens and Thessaloniki.  

Security and safety are additional considerations. Greece generally enjoys low levels of violent crime compared to other European countries, with strong community ties contributing to a sense of personal safety. While petty crime can occur in larger cities, the overall environment is regarded as safe and welcoming, particularly for families and retirees.  

In terms of infrastructure, Greece has made significant investments in recent decades. The country benefits from a modern highway network, well-developed ports, and an extensive system of regional and international airports, making domestic and international travel convenient. Public healthcare has also improved, supplemented by private options that are often more affordable than in other parts of Europe. Telecommunications and internet infrastructure continue to advance, particularly in urban areas, although some rural regions may still face limitations.  

Taken together, Greece offers not only a favorable fiscal regime for certain newcomers but also a holistic and highly appealing living environment — combining rich cultural traditions, accessible natural beauty, personal safety, and steadily improving infrastructure. For many expatriates, these lifestyle aspects are equally as important as any tax incentives.  

Cost of Living

When evaluating Greece as a destination for relocation or extended stay, the cost of living stands out as one of its most attractive features, particularly when compared to Western European countries such as France, Germany, or the Netherlands. While not the least expensive country in the European Union, Greece does offer a relatively lower cost structure in crucial areas like housing, food, and services, though regional differences are worth noting.

Housing is generally the clearest example of cost advantages. In Athens, the monthly rent for a one-bedroom apartment in the city center typically ranges between €500 and €750, while in Thessaloniki or other regional cities, the same property might cost €350 to €550. In contrast, comparable city-center apartments in Paris, Munich, or Amsterdam often start at €1,200 and easily exceed €1,800 per month. Even larger properties, such as a three-bedroom family apartment, are significantly less expensive in Greece, averaging €800 to €1,200 in central Athens, compared with well over €2,500 in most major Western European capitals.

Food costs are also noticeably lower. Everyday grocery staples—bread, dairy products, fruits, and vegetables—are more affordable, in part due to Greece’s strong agricultural output. For instance, a liter of milk costs around €1.40, while seasonal fruits and vegetables are considerably cheaper than in Northern or Western Europe, often 20–30% less. Dining out follows the same pattern: a full meal at a mid-range tavern or casual restaurant will often fall between €12 and €18 per person, which would be difficult to match in cities like Brussels or Vienna, where similar meals frequently start at €20–25.

As for services, Greece provides a favorable cost balance. Utilities for an average apartment—including electricity, heating, water, and garbage collection—are about €150–250 per month, depending on usage, location, and season, while comparable costs in Western European countries tend to be considerably higher, often in the €250–350 range. Internet services average around €30 per month, again below the costs observed in many other EU states. Personal services such as childcare or domestic help are also markedly more affordable, reflecting local wage structures.

In sum, Greece offers a comparatively lower cost of living than Western Europe, particularly evident in housing and dining, with only modest differences in selected utilities or imported goods. For expatriates, this affordability can translate into a higher standard of living for the same level of income, balanced against the need to consider regional economic disparities and the variability in wages and employment opportunities across the country.

Tax Aspects of Leaving Your Home Country (e.g., Germany, Switzerland, Austria)

When considering emigration from jurisdictions such as Germany, Switzerland, or Austria, potential movers need to be aware that tax obligations do not simply cease upon departure. These countries impose specific rules designed both to prevent erosion of their tax base and to ensure ongoing taxation of certain types of income. This makes proper planning essential, particularly for individuals with business interests, significant investments, or complex income streams.  

Germany

Germany has one of the more prominent exit tax regimes in Europe. Under German law, individuals who hold a substantial shareholding in a corporation—defined as at least 1% within the last five years—may be subject to exit taxation (Wegzugsbesteuerung) upon emigrating. In effect, the law treats the emigration as if the shares had been sold, triggering capital gains tax on latent (unrealized) gains. Deferrals may be available if moving within the European Union (or certain EEA states), though this relief can be subject to conditions, such as providing sufficient collateral or evidence of ongoing compliance. Outside the EU/EEA, immediate taxation is generally applied.  

In addition, while unlimited tax liability in Germany ceases once you are no longer tax resident, Germany retains limited tax liability over certain income sources with a nexus to Germany. This includes, for example, rental income from German real estate, certain German-sourced capital income, and business activities carried out within the country. Thus, individuals leaving Germany often remain within the German tax net to some degree.  

Switzerland

Switzerland does not impose a formal exit tax on private individuals comparable to Germany’s, but departures can trigger implications in terms of wealth tax, accrued income, or the treatment of pension rights. Moreover, Swiss cantons apply different rules regarding lump-sum taxation and the realization of capital when leaving, so localized consultation is key. Continuing limited liability for Swiss-source income—such as property rentals or employment exercised within Switzerland—remains applicable.  

Austria  

Austria also applies an exit tax regime, particularly targeting significant shareholdings in companies. As with Germany, taxation can be deferred under certain circumstances when relocating to another EU or EEA member state, but a departure beyond these jurisdictions typically triggers immediate taxation of unrealized gains. Austria similarly retains limited tax liability over Austrian-source income after the loss of residency, covering, for example, Austrian real estate income or business activities.  

Key Considerations

For mobile entrepreneurs, investors, and professionals, these rules underscore that relocating abroad is far more than a matter of simply registering in a new country. The taxation of unrealized gains, restrictions on deferrals, and continuing taxation of income with source-country connections create ongoing obligations that must be proactively managed. Careful structuring before departure—such as reviewing ownership stakes, pension assets, or real estate holdings—can help mitigate unexpected tax liabilities and ensure a smoother transition into Greece’s tax system. 

Correct Preparation for the Move

When preparing to relocate to Greece, careful planning in both legal and tax matters can make the transition far smoother. A methodical approach ensures that you not only comply with Greek requirements but also avoid unexpected liabilities in your home country. Below is a structured checklist outlining the essential steps:  

1. Clarify Immigration and Visa Requirements

• Determine the right visa or residence permit: Citizens of EU/EEA countries enjoy freedom of movement, but non-EU nationals generally require a long-stay visa (Type D) as the first step toward residence.  

• Research eligibility criteria: Depending on your situation, you may apply under categories such as employment, business investment, student, family reunification, or Greece’s digital nomad visa.  

• Confirm documentation: Commonly required items include a valid passport, proof of health insurance, financial means of support, and clean criminal record certificates.  

• Plan timing carefully: Visa applications can take several weeks or months; ensure alignment with your planned move-in date.  

2. Review Tax Residency Rules

• Understand Greece’s 183-day rule: Spending more than 183 days in Greece during a calendar year will generally trigger tax residency.  

• Explore special tax regimes: Greece offers preferential tax regimes for foreign pensioners, high-net-worth individuals, and professionals relocating for work. Evaluate if you qualify to benefit from reduced tax rates or exemptions.  

• Coordinate with your home country: Review the double taxation treaty (if one exists) to identify potential relief mechanisms and avoid dual tax burdens.  

3. Handle De-registration in Your Home Country

• Notify tax authorities: In many jurisdictions, you must formally declare that you are leaving to prevent continued taxation on worldwide income.  

• Close or restructure local accounts: Depending on your circumstances, you may need to adjust bank accounts, pensions, or insurance plans to reflect your relocation.  

• End or transfer social security contributions: Some countries allow agreements with Greece to preserve benefits; confirm whether your home state has a bilateral social security treaty in place.  

• Update voter and civil registries: De-registering your residence may also involve notifying local municipalities and updating national identification records.  

4. Address Practical Financial Transitions

• Open a Greek bank account: This will be required for employment, property purchases, or everyday financial transactions.  

• Confirm currency transfer rules: Check reporting obligations for moving significant sums from your home jurisdiction to Greece.  

• Retain documentation: Keep bank statements, de-registration certificates, and proof of foreign income, since Greek authorities may request them for tax or compliance purposes.  

5. Plan Ahead for Healthcare and Insurance

• Ensure valid health coverage: Private health insurance is usually mandatory for visa applications unless you already qualify under EU coordination rules.  

• Register with the Greek healthcare system (EFKA) if eligible, once residency is established.  

6. Obtain Professional Guidance  

• Consult tax advisors in both countries: Coordinating advice is particularly important if you hold investments, property, or businesses abroad.

• Retain immigration counsel where needed: Especially if your case does not fall within straightforward categories.  

By tackling each element in advance—immigration, tax residency, de-registration at home, and financial logistics—you greatly reduce the risk of administrative delays or unexpected liabilities. A thoughtful, documented approach ensures you begin your new chapter in Greece with clarity and compliance.  

Automatic Information Exchange (CRS)

Greece is a participant in the OECD’s Common Reporting Standard (CRS), which means that Greek tax authorities automatically receive financial account information from participating jurisdictions and, in turn, provide similar information to partner countries. This framework is designed to increase tax transparency and reduce opportunities for taxpayers to conceal income or assets abroad.  

For individuals who are tax residents of Greece, participation in CRS carries important implications. Foreign banks and financial institutions located in CRS-participating jurisdictions are obligated to collect identifying information—such as tax residency, taxpayer identification numbers, and account balances—and report this data to their local tax authorities. Those authorities then share it with the Hellenic Independent Authority for Public Revenue (AADE).  

As a result, Greek residents holding accounts abroad cannot rely on banking secrecy in CRS-member states to keep foreign income or asset holdings undisclosed. Dividends, interest, sale proceeds, and other financial income generated through such accounts are reported automatically, allowing Greek tax authorities to cross-check the data against individual tax filings.  

This system makes tax compliance increasingly crucial for residents of Greece. Any undeclared income arising from foreign financial accounts may expose taxpayers to audits, penalties, and interest charges. Conversely, proper voluntary reporting ensures that individuals avoid the reputational and financial risks that come from non-disclosure.  

In practice, CRS participation means that maintaining foreign accounts is permitted, but the expectation is full transparency: all income and balances relating to these accounts must be properly declared in Greece for taxation purposes.