Living in Greece as an Expat: The Complete Financial Guide

Greece has emerged as one of Europe's most compelling destinations for internationally mobile individuals and high-net-worth families. The combination of a 7% flat tax on foreign income, a Golden Visa programme with a clear EU citizenship pathway, a recovering property market, and one of the continent's most desirable climates has made Greece a serious contender alongside Portugal and Cyprus. This guide covers the key financial, tax, and practical considerations for anyone planning a move.

Visa options for expats in Greece

EU and EEA nationals have the right to live and work in Greece under EU free movement rules. Registration with the local municipality (a KEP, or Citizens' Service Centre) within three months of arrival is technically required and practically important for accessing public services, obtaining the AFM, and eventually pursuing citizenship.

Non-EU nationals require a visa to reside in Greece. The main routes are:

• D-type national visa — a long-stay visa (over 90 days) for various purposes including retirement, passive income, and family reunification. Grants initial residency for one to two years, renewable.
• Digital Nomad Visa — introduced in 2021, valid for 12 months (renewable for a further 12), for non-EU nationals working remotely for employers or clients outside Greece. Minimum monthly income of approximately €3,500 applies.
• Greece Golden Visa — residency by investment, covered in detail below. The most relevant route for property investors and HNW individuals.

The Greece Golden Visa

Greece's residency-by-investment programme offers a five-year renewable residence permit in exchange for a qualifying property investment. Key thresholds as of 2026:

• €800,000 — Athens, Thessaloniki, Mykonos, Santorini, and islands with a population above 3,100
• €400,000 — all other mainland Greece and smaller islands
• €250,000 — commercial property converted to residential use, or listed heritage buildings requiring restoration

A single property must meet the relevant threshold — you cannot combine multiple smaller purchases to satisfy it. The investment must be maintained for the duration of the visa. There is no minimum number of days you must spend in Greece to retain the Golden Visa, which makes it flexible for globally mobile individuals.

Family members — spouse, children under 21, and parents of both applicant and spouse — can be included on the same application. The Golden Visa pathway to citizenship requires seven years of genuine residency, meaning you must actually live in Greece for the required period rather than simply holding the visa.

The Greek non-dom tax regime — three tiers

Greece operates three distinct preferential regimes for incoming residents, each addressing a different profile:

The €100,000 lump-sum tax (Article 5A) is aimed at high-net-worth individuals. Rather than a percentage, qualifying individuals pay a fixed €100,000 per year in Greek tax on all their foreign-source income, regardless of the amount of that income. To qualify you must not have been a Greek tax resident in seven of the eight preceding years, and you must invest at least €500,000 in Greek real estate, a Greek business, or Greek transferable securities within three years. Family members can be added for a further €20,000 each per year. The regime runs for up to 15 years. This is most efficient for individuals with very substantial foreign income (broadly, foreign income above roughly €1.4 million, where the flat €100,000 undercuts the 7% rate).

The 7% pensioners' regime (Article 5C) applies specifically to foreign retirees who transfer their tax residency to Greece. Qualifying individuals pay a flat 7% on all foreign-source income — including foreign pensions, dividends, interest, rental income, and capital gains. To qualify you must not have been a Greek tax resident in five of the six preceding years, and there must be a tax cooperation agreement between Greece and your former country of residence. Importantly, there is no investment requirement for the pensioners' regime — retirees without the €500,000 investment capacity can still access the 7% rate. The regime lasts for 15 years.

The employment/self-employment regime (Article 5B) is aimed at workers and the self-employed who relocate their tax residence to Greece. Qualifying individuals receive a 50% exemption on their Greek-source employment or business income for up to seven years, subject to conditions including prior non-residency and a commitment to remain. This regime targets relocating professionals rather than holders of large foreign income.

The Greek tax system

Outside these preferential regimes, Greece operates a progressive income tax system. Following the 2026 reform (Law 5246/2025), the bands run from 9% (up to €10,000) up to a top rate of 44% on income above €60,000, with intermediate bands of 20%, 26%, 34%, and a new 39% band on income between €40,000 and €60,000. A solidarity surcharge (introduced during the financial crisis) was suspended for most income in 2022 and has not been reinstated. Greek-source income is always taxed at standard progressive rates even for non-dom regime participants.

Capital gains on Greek real estate are taxed at 15%. Social insurance (EFKA) contributions apply to self-employed individuals operating in Greece. Greek residents are taxed on worldwide income under the standard rules — which is precisely why the non-dom regimes offer such significant advantages.

Buying property in Greece

The Greek property purchase process involves several steps. First, obtain your AFM (tax number) from the local tax authority — this is required before any transaction. Engage a Greek lawyer (independent of the estate agent) to conduct title searches and verify planning status. A notary (symvoliografos) is legally required to finalise all property transfers. The typical transaction costs for the buyer are approximately 3–4% transfer tax (on the assessed value), 1–2% notary fees, 1% legal fees, and 0.5–1% agency fees. VAT at 24% applies to new developments from developers — transfer tax does not apply in such cases.

The property market recovered strongly after the 2008–2018 period of decline and has continued to perform well since 2019. Athens prime areas (Kolonaki, Vouliagmeni, Glyfada, Kifisia) offer substantial properties in a major European capital. The islands — Mykonos, Santorini, Paros, Crete — remain premium but offer genuine lifestyle value. Northern markets (Thessaloniki) provide lower entry points with strong rental yields.

For properties linked to the Greece Golden Visa programme, see our full property hub.

Cost of living in Greece

Greece is meaningfully more affordable than Northern and Western Europe. Indicative monthly costs (excluding rent) for a comfortable lifestyle:

• Athens — €1,500–€2,500 per person, depending on neighbourhood and lifestyle
• Thessaloniki — €1,200–€2,000, typically 15–20% cheaper than Athens
• Islands (year-round residents) — varies significantly; Crete and Rhodes are more affordable than Mykonos and Santorini

Rent is the largest variable. A one-bedroom apartment in central Athens: €600–€1,000 per month. A three-bedroom house in a desirable Athens suburb or island town: €1,200–€2,500 per month. Utilities, food, transport, and restaurants are all noticeably cheaper than the UK, Germany, or Scandinavia.

Healthcare in Greece

The public healthcare system is administered by EOPYY (National Organisation for Healthcare Provision). EU nationals and those paying into Greek social insurance access public healthcare through EOPYY. The quality of care varies: Athens and Thessaloniki have well-equipped public hospitals; rural and island healthcare is more limited. Private hospitals (Hygeia, Metropolitan, Mitera in Athens) offer a high standard of care.

Most expats, particularly outside large cities, supplement public coverage with international private medical insurance (IPMI). Providers including Cigna, AXA, Allianz, and Bupa International offer expat health plans that provide access to private hospitals across Greece and internationally. Premiums for a healthy adult in their 40s–50s typically range from €2,000–€5,000 per year depending on cover level.

Banking in Greece

The major Greek commercial banks are National Bank of Greece, Piraeus Bank, and Alpha Bank. All three have recovered from the 2015 banking crisis and are now well capitalised, subject to ECB supervision. Account opening requires an AFM (tax number), passport, and proof of address.

For international transfers and multi-currency needs, many expats supplement a local Greek bank account with an international account (HSBC, Lloyds International, Citi) or a specialist platform such as Wise or Revolut. Non-residents can typically maintain offshore accounts with no Greek reporting requirement, though Greek residents must declare foreign accounts on the annual FATCA-aligned declaration.

Island versus mainland lifestyle

Athens is a major European capital with genuine cultural depth, a thriving food and arts scene, good international schools, and strong infrastructure. The northern suburbs (Kifisia, Psychiko) and southern coastal belt (Glyfada, Vouliagmeni, Vari) are popular with affluent expats and returning diaspora.

Thessaloniki — Greece's second city — offers a cosmopolitan, walkable lifestyle at lower cost, with a strong university community and easy access to northern Greece and the Balkans.

The islands suit those prioritising lifestyle over infrastructure. Year-round island living (Crete, Rhodes, Corfu, Lefkada) is a genuine and affordable option; smaller islands become quiet in winter. Mykonos and Santorini are better suited to seasonal use or investment than permanent residence.

Practical arrival steps

1. AFM (tax number) — Obtain from your local AADE/IAPR office. Essential for everything.
2. AMKA (social insurance number) — Required to access the healthcare system and sign employment contracts.
3. Municipality registration — EU nationals register their residency at the local KEP.
4. Bank account — Requires AFM and proof of address (utility bill or rental contract).
5. Greek tax return — Filed annually (deadline: June 30 for the prior year). Straightforward for non-dom participants.
6. Non-dom application — Submitted to the IAPR with investment documentation. Specialist tax advice is strongly recommended at this stage.

How Global Investments can help

Our advisers work with British and international expats relocating to Greece, covering the full financial picture: UK Statutory Residence Test analysis to formally exit the UK tax net; coordination with Greek tax advisers on non-dom regime applications; UK pension restructuring (QROPS analysis, SIPP drawdown, NT coding under the UK–Greece double tax treaty); internationally compliant investment portfolios for Greece-based residents; IHT and estate planning for those with UK-domiciled assets; and international private medical insurance. We have guided clients through Greece relocations for over a decade and understand the practical, tax, and property aspects of making this move successfully. Contact us to speak with a Greece specialist.

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The information on this page is for general guidance only and does not constitute personal financial or tax advice. Tax rules, visa regulations, and double tax treaty provisions change — always verify current rules and seek qualified professional advice before making financial decisions. The value of investments can fall as well as rise.