Living in Greece as an Expat: Golden Visa and Non-Dom Tax Status

Greece has reinvented itself as a destination for internationally mobile professionals, retirees, and property investors. After years in which the country's economic difficulties dominated perceptions, Greece has emerged with a sharply reformed offering: a revamped Golden Visa programme, two attractive special tax regimes for new residents, a growing tech and startup ecosystem in Athens, and a quality of life — Mediterranean climate, rich culture, excellent food, stunning landscapes — that is hard to match anywhere in Europe.

As of 2026, Greece is one of the three most discussed European destinations for HNW individuals considering a European base, alongside Portugal and Italy. This guide explains the key financial and legal considerations for expats living in — or considering — Greece.

The Greek Non-Dom Tax Regimes

Greece introduced two special income tax regimes for foreign nationals taking up residence in Greece. Both are designed to attract internationally mobile high earners and retirees.

Non-Dom Regime for High-Net-Worth Individuals (Article 5A)

Under this regime, qualifying individuals pay a flat annual lump-sum tax of €100,000 on all their foreign-source income, regardless of how large that income actually is. This is effectively a forfait system similar to Switzerland's, making it highly attractive for those with substantial overseas income.

Qualifying conditions:

• The individual must not have been a Greek tax resident in at least 7 of the preceding 8 tax years
• They must invest at least €500,000 in Greek real estate, businesses, or securities within 3 years of first applying for the regime
• Application is made to the Greek tax authority (AADE); approval is needed before the benefit applies

Benefits:

• The €100,000 flat tax covers all foreign-source income — investment returns, dividends, rental income abroad, capital gains on overseas assets — irrespective of the actual amount
• Greek-source income is taxed under normal Greek rates, but for someone whose primary income is from overseas, this is typically not material
• No foreign asset declaration requirement for assets covered by the regime
• Family members (spouse, children under 18) can be added to the regime for an additional €20,000 per family member per year
• The regime lasts for up to 15 years

For an individual with foreign-source income of, say, €500,000 per year, a flat €100,000 lump sum represents an effective rate of 20% — and the rate falls dramatically as income rises.

Non-Dom Regime for Foreign Pensioners (Article 5B)

A separate regime applies to foreign pension income. Under Article 5B:

• Foreign-source pension income of Greek tax residents (who were not resident in Greece in the preceding 5 years and who transfer their residence from a country with which Greece has a TIEA — Tax Information Exchange Agreement or DTA)
• Is taxed at a flat 7% flat rate on all foreign pension income received
• The 7% rate applies for 15 consecutive tax years
• The individual must maintain actual residence in Greece (spend at least 183 days)

This is one of the most competitive pension income tax rates in Europe. A UK pensioner with £60,000 per year in pension income would pay approximately £4,200 in Greek tax under the 7% regime — compared with roughly £11,400 in UK income tax if they were UK-resident (after the personal allowance, on 2026/27 rates).

Under the UK-Greece DTA, UK government service pensions (civil service, military, NHS) remain taxable only in the UK. Private pension income and the UK State Pension are generally taxable in Greece for Greek tax residents, with credit for UK taxes paid. Professional advice on the specific DTA interaction is essential.

The Greece Golden Visa: 2024 Updates

Greece's Golden Visa programme — which grants a 5-year renewable residence permit and pathway to citizenship to property investors — has been one of the most popular in Europe, attracting over €4 billion in investment since its launch in 2013.

The investment threshold was significantly increased in 2024:

• In high-demand areas (Athens, Thessaloniki, Mykonos, Santorini, and properties in municipalities with populations above 3,100 on certain islands): minimum investment of €800,000 in residential property
• In other areas: minimum investment of €400,000 in residential property
• Commercial property, land, and renovation investment thresholds are set separately and are generally lower

The 2024 threshold increases were a direct response to concerns about housing affordability in urban Greece, where Golden Visa demand had contributed to rapidly rising rents and house prices.

Golden Visa benefits:

• 5-year residence permit, renewable indefinitely while the investment is maintained
• No minimum stay requirement in Greece — you can travel freely
• Full Schengen Area travel rights (Greece is a Schengen member)
• After 7 years of legal residence and demonstrating Greek language proficiency, citizenship can be applied for
• Family members (spouse, children under 21, parents of the investor and spouse) are included

The Golden Visa does not automatically establish Greek tax residency — you only become a tax resident if you spend more than 183 days in Greece or your centre of vital interests is there. This means the Golden Visa can be held purely as a travel and residency safety net without triggering Greek tax obligations, provided you are genuinely tax resident elsewhere.

Greek Property Market

Greece's property market has experienced strong price growth in the 2022–2026 period, driven by Golden Visa demand, domestic economic recovery, and strong tourism-related short-let activity.

As of 2026, indicative prices:

• Athens city centre (Kolonaki, Syntagma, Glyfada): €3,000–8,000/sqm
• Mykonos prime properties: €8,000–20,000+/sqm
• Santorini: €4,000–12,000/sqm
• Northern suburbs of Athens (Kifissia, Marousi): €2,500–5,000/sqm
• Regional mainland and less touristic islands: €800–2,000/sqm

Property purchase costs:

• Transfer Tax: 3% of the objective (notarial) value
• Notary fees: approximately 1–2%
• Land registry fees: approximately 0.5%
• Legal fees: typically 1–2%
• Agent fees: typically 2–3% (usually paid by the buyer in Greece)

Annual property taxes:

• ENFIA (Unified Real Property Tax): calculated based on the objective value of the property; typically €2–10/sqm/year in practice
• Additional ENFIA surcharge on high-value portfolios

Rental income from Greek property is taxed on a banded basis. Following the 2026 tax reform (effective 1 January 2026), the rates are 15% (up to €12,000), 25% (€12,001–€24,000), 35% (€24,001–€36,000), and 45% above €36,000. A 5% automatic deduction for maintenance applies.

Banking in Greece

The four systemic Greek banks — National Bank of Greece, Piraeus Bank, Alpha Bank, and Eurobank — all offer accounts to non-resident foreigners, particularly those with Golden Visa status or those in the process of purchasing Greek property.

Opening a Greek account typically requires a Greek tax number (AFM), passport, and proof of address. For non-residents buying property, the AFM is obtained through the local tax authority (AADE) and is essential for the purchase process.

International banking options (HSBC, Citibank, and private banks such as Julius Baer and Lombard Odier) are available for larger asset management needs. Many HNW Greek expats maintain offshore accounts in Cyprus or Guernsey alongside Greek accounts.

Healthcare in Greece

Greece's public health system (ESY) has historically been underfunded, and most internationally mobile residents opt for private health insurance. The private healthcare sector is of good quality in Athens and other major cities, with internationally trained doctors and modern facilities.

Private international health insurance valid in Greece is strongly recommended. Annual premiums for comprehensive coverage in Greece typically range from €1,500 to €5,000 depending on age, health history, and coverage level.

EU citizens can use the European Health Insurance Card (EHIC); British nationals post-Brexit should use the GHIC (Global Health Insurance Card) for UK-reciprocal emergency healthcare.

Estate Planning in Greece

Greek inheritance law has complex forced heirship rules — close relatives (spouses, children, parents) are entitled to a "forced share" (νόμιμη μοίρα — nomic share) of the estate regardless of what the will says.

For non-Greek nationals, EU Succession Regulation 650/2012 allows you to elect for your home country's law to govern your estate. British nationals can elect UK law, which does not have forced heirship rules. This provides important protection for non-standard family arrangements.

Greek inheritance tax rates depend on the relationship between deceased and beneficiary and the value of the estate. Spouses and children receive significant exemptions; more distant relatives face higher rates.

Key estate planning actions for Greece-based expats:

• Draft a Greek will (or an international will making a 650/2012 UK law election)
• Register the will in the Greek Central Will Registry (Κεντρικό Μητρώο Διαθηκών)
• Coordinate UK and Greek wills to avoid conflict
• Consider an offshore trust structure for larger, complex international estates

Practical Financial Planning Checklist

1. Assess eligibility for Article 5A (HNW non-dom) or Article 5B (pensioner 7% regime) with a qualified Greek tax adviser
2. Apply for a Greek AFM (tax number) — required for almost everything
3. If applicable, apply for Golden Visa through a qualified lawyer
4. Open a Greek bank account
5. Notify HMRC of your UK departure; establish whether you have met the Statutory Residence Test conditions for non-residence
6. Ensure pension income DTA position is clarified with professional advice
7. Review and potentially restructure investment portfolio for new tax base
8. Draft a Greek will and coordinate with your UK estate plan
9. Arrange international health insurance
10. If using the Golden Visa, ensure the investment is made correctly and documented for permit renewal

Compliance Reminder

Greek tax law and the Golden Visa programme have undergone multiple changes in recent years and may change further. This guide reflects the position as of 2026 and does not constitute tax or legal advice. Seek qualified professional advice for your specific circumstances. Property values and investments can fall as well as rise.

How Global Investments Can Help

Global Investments advises internationally mobile clients considering Greece as a financial and lifestyle base. Our team helps with assessment of the Greek non-dom regimes, pension restructuring, Golden Visa investment due diligence, offshore investment structures, and cross-border estate planning. Contact us to arrange a confidential discussion about your specific circumstances.