Greece is on its first attempt to offer tax motives in order to attract foreign direct investments.
More specifically, the first provision in force is included in article 5a L.4172/2013, as implicated and analyzed in circular decision A.1036/2020.
According to the above legislation, the investor who invests on his own or through a relative an amount over 500.000 euro, will be granted the benefit of single tax deposit of 100.000 euro on his global income which emerges abroad as well.
- The investor- individual shall not be a tax resident of Greece for eight years prior to transferring his tax residence in Greece and shall prove an investment (by himself or through a relative) of 500.000 euro and he will deposit one single tax installment of 100.000 euro for his global income which emerges abroad. In addition, the individual is granted the option to request the extension of this article implication for a relative, and in this case he shall deposit an extra 20.000 euro tax for each relative, without implicating the provisions regarding taxes on donations, parental grants and inheritance
- The specific investment shall be conducted within three years from the application date and shall be directly completed by the individual or through a company or a legal entity in which he holds the majority of shares or participation accordingly, in properties or businesses or movable values or shares or participations in companies or legal entities in Greece
- There is no restriction regarding the business activity of the company under investment, nor the number of employees nor the location of its installation.
This beneficial tax scheme which is predicted by the legislation shall be extended in «family members of the main initial investor, viz. His spouse, parents and children».
The investor and his family members shall at any time apply and be exempted by the Greek beneficial tax regime and can transfer their tax residence residence any other country they wish.
Finally, it is noted that following the three year period the investor is entitled to conduct a new investment over 500.000 euro limit and be re-included in the beneficial tax scheme for deposit of 100.000 euro tax for his global income.