Encouraging outcome from the tax motives towards the attraction of foreign citizens to Greece
Tax Planning | December 2020
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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.

Pursuant to L. 4646/2019 and 4714/2020, new tax motives were introduced for foreign citizens who transfer their tax residence in Greece. More specifically, an alternative income taxation was voted for foreign pensioners, foreign employees and self-employed, as well as homogenous who have left the country.

The outcome of the motives seems to be significantly hopeful for the country’s economy, since, according to the Minister of Finance, Christos Staikouras, the Greek state has already collected 2 million euro from investments in Greece through the “non dom” scheme, as it is called.

The estimation is that during the following months, the interest will continue to rise and multiple applications will follow, mainly from United Kingdom (due to the upcoming Brexit), from Switzerland, as well as U.S.A., Russia and other countries.

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