Transfer of tax residence in Greece (Non-Dom Taxation)

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A new Tax Bill that includes important amendments to the Greek Income Tax Code (Law 4172/2014) and will contribute to attracting foreign direct investments has been voted by the Greek Parliament.

In accordance with the new article 5A of the Greek Income Tax Code, as added by article 2 of the above Tax Bill, a lump-sum taxation regime regarding the foreign-source income is provided for individuals (natural persons) transferring their tax residence to Greece (non-dom residents).

Under certain conditions provided in the above law, individuals transferring their tax residence to Greece can request from the tax authorities to benefit from this lump-sum taxation regime. According to this regime, the taxpayers pay for their foreign-source income, regardless of its sum, a lump-sum tax of 100.000 € per tax year (plus 20.000 € for any of their relatives), all their tax liabilities for income derived abroad are exhausted and they are also exempt from inheritance or donation tax for their assets abroad. The application of this special regime requires, among other things, that the individuals transferring their tax residence to Greece prove before the Greek tax authorities that they are investing themselves or through their relatives or a legal person or legal entity, in which they hold the majority of the shares, in real estate or business or transferable securities or shares in legal persons or legal entities registered in Greece. The amount of the investment shall not be less than 500.000 €. The application of this special regime cannot be extended for more than fifteen (15) tax years.

MStR Law, thanks to its long-time experience in most legal and business sectors, is capable of offering any kind of legal support and advice to EU and non EU individuals that intend to invest in Greece and benefit from the above lump-sum taxation regime. In the context of the above legislation, our law firm supports investors to invest in Greece, covering at the same time the entire process, before the competent tax authorities, for transferring their tax residence to Greece and applying to qualify for this special taxation regime.

We advise our clients on all issues related to investment planning in Greece, either in the real estate sector or any other sector of the Greek economy. The provision of comprehensive advice on all matters of real estate, corporate and business law is one of the core areas of our practice. We provide full range of legal services ranging from legal assistance during transactions and acquisitions of real estate properties in Greece or companies active in the Greek market, to legal due diligence, project financing and representation before public authorities.

In addition, we have an extensive experience in tax law and are capable of providing to our clients support regarding the transfer of their tax residence to Greece, representing them before the competent tax and public authorities. We also provide our clients corporate and private tax advice, based on Greek, European and international legislation, including Double Taxation Treaties.

Our law firm, in cooperation with your consultants and accountants in Greece or abroad or even with independent consultants, can support you in the whole process for investing and transferring your tax residence in Greece and benefiting from this special taxation regime.

If you wish any further information or details, please contact MStR Law at info@mstr-law.gr.
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