Greece is positioning itself as a premier European hub for global wealth migration, following a major upgrade to its flagship non-dom tax residency programme.
The legislative reforms – now in the final stages of parliamentary approval – were introduced by Minister of State Kyriakos Pierrakakis and are expected to take effect in 2025.
They mark a significant evolution in Greece’s offer to Ultra High Net Worth Individuals (UHNWIs), particularly in light of the UK’s upcoming abolition of its own non-dom regime.
Two key changes will enhance the appeal of the programme: a full exemption from Greek inheritance and gift tax on foreign assets, and new flexibility allowing family members to be added at any point during the 15-year non-dom term. Each family member pays a flat annual tax of €20,000 and receives the same tax benefits as the primary applicant.
FLAT TAX
Under the programme, participants pay a flat tax of €100,000 per year on all foreign income, with no wealth tax or global asset reporting.
Eligibility requires non-residency in Greece for seven out of the previous eight years and a minimum €500,000 investment in Greek real estate, equity, or capital markets.
Savvas Savvaidis, President and CEO of Greece Sotheby’s International Realty, says: “These long-awaited changes position Greece as a leading European destination for wealth relocation, family structuring, and tax residency planning.
“For our clients, this is more than tax – it’s about strategic alignment with lifestyle, legacy and long-term flexibility.”
Since launching in 2020, the non-dom scheme has attracted 213 ultra-wealthy individuals, generating more than €277 million in direct investment.
With these new enhancements, Greece joins the ranks of Italy and Switzerland as one of the few jurisdictions offering a stable, transparent, and lifestyle-rich alternative for globally mobile families.
Greece Sotheby’s International Realty provides specialist support for private banks, legal advisers, and family offices seeking to assess Greece as a long-term tax and residency base for UHNWI clients, with dedicated teams across Athens, Mykonos, Corfu and the Aegean.
