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Prokopis Chatzinikolaou

Favorable 7-year scheme with 50% tax reduction and exemption from residence – automobile exhibits 

Greek bonds have the lowest risk and the highest yields of all government securities in the world.

The investment interest towards luxurious and high-quality holiday residencies remains substantial in Greece, even during the pandemic.

The price range in Greek property market has shown interesting fluctuations from 2011 to 2020.

Prime Minister Kyriakos Mitsotakis announced a favorable tax and insurance scheme for individuals and businesses, as well as investment motives for foreign citizens.

Tax motives for Angel Investors are established for the first time by the Greek State.

Following the suspension of the demolition of illegal hotel facilities on the seafront, a new regulation comes to extend their rights to use.

In the context of the new scheme “Economize - Autonomize” and the yearly budget of Ministry of Environment and Energy for the year 2021, a total budget of 1 billion euro is about to be disposed for energy upgrade of 80.000 buildings.

The Greek government seems to have prioritized the vaccination in Greek islands, by sending special vaccination operations.

Following a year of depress due to the pandemic, Russian investors are expected to operate again within the Greek Real Estate Market during 2021, for acquisition of Residential and Tourist Properties.

Pursuant to the new legislative scheme which was voted by Greek Parliament on 17.02.21, Greece addresses tycoons through the legislation upon the creation of “Special Cause Companies for Family Wealth Management”, globally known as “Family Offices”.

​​​The need for mobility and flexibility, as a result of globalization, climate change and pandemics, has proven to be one of the timeliest topics of this century.

The American government has published the “List with citizens who have chosen to expatriate”, which contains 660 names.

The Ministry of External via the deputy Minister of External Affairs, under his capacity of Head of the Interministerial Commission for Brexit, Mr. Miltiadis Varvitsiotis, and the Independent Authority of Public Revenues, via the Administrator, Mr.

The upload of forest maps is starting today for areas of Kavala, Pieria, Drama, Arkadia, Kastoria, Lefkada, Kefallonia and Zakynthos.

Greece is on its first attempt to offer tax motives in order to attract foreign direct investments.

As Anatoliy Lyetayev wrote at Investment migration insider on the 18th of December tax immigration; a foreign yet alluring concept that is rapidly becoming the top trend among high net worth individuals (HNWIs).

In the context of reshaping the tax legislation in Greece towards the attraction of foreign capitals, a new tax provision regarding foreign pensioners has been introduced for individuals who wish to decrease their taxation.

New deadline until the end of February is set for taxpayers in order to cover the exhibits through parental grants and donations and avoid the payment of extra tax with the submission of 2021 tax declarations.

The statements made by the American Minister of Energy, Dan Brouillette, regarding the investment interest of American companies in Greece were proven to be very optimistic.

The objective values are expected to be re-adjusted and used for the calculation of unified property ownership tax (ENFIA) during 2021.

The upcoming Brexit which will turn British individuals to third country citizens with doubtful access to European Union, especially while the agreement between London and Brussels is pending, has shaped new trends for property market abroad from residents of United Kingdom.

According to the Investment Migration Insider website and to the research of Anatoliy Lyetayevand the statistics from last year for some of the most popular resident permit’s by investment programs of Spain, Greece, and Portugal indicate that Greece had been the ultimate champion in “Golden Visa”

Following a decision by the administrator of AADE (Independent Authority of Public Revenues) Georgios Pitsilis, the following deadlines are extended until January 2021:

The first results following the voting of tax motives which were granted by the Greek government targeting the attraction of foreign citizens to Greece seem to be optimistic.

Taking into consideration the Brexit factor, the European Union has renewed its effort to create a real Capital Markets Union (CMU) for funding the post Covid-19 recovery -and indirectly decreasing its dependence from London and financial services.

A two-year extension for construction in properties which are located outside of city plan and have a surface of below two acres was granted by the new polynomial plan which was submitted by the Ministry of Environment and more specifically it regards fields:

According to Bloomberg, the country we considered as one with the strongest passports globally, is starting to lose ground, since the wealthy Americans are looking for a double citizenship. It is known that Americans have not expressed interest for “golden passports” until now.

A fluidity enforcement of 600 million euro is estimated to be raised by the scheme “I save for Tourism”, which is expected to commence during early 2021.