Greece’s inviting culture, warm climate, and natural beauty are only a few of the reasons why retiring here is a compelling option. Combining its natural traits with its supportive State programmes and tax benefits, the country offers comparable advantages that few can match. Specialising in navigating the complexities of international relocations and tax regimes, our experienced legal and tax professionals provide end-to-end support from eligibility assessment to application submission and compliance with all Pensioner’s Regime documentation requirements.
According to Art 5B of Law 4172/2013 (Greek Income Tax Code), the Pensioners’ Tax Regime in Greece offers attractive tax incentives for foreign retirees relocating to Greece. Under this regime, eligible pensioners benefit from a flat tax rate of 7% on their foreign-sourced income (derived from pensions). This regime is part of Greece’s broader strategy to attract foreign investment and boost the local economy by incentivising retirees to settle in the country.
Eligibility Criteria
To qualify for the Pensioner’s Regime, you must meet the following conditions:
- You must not have been a Greek tax resident for 5 of the 6 years prior to your relocation to Greece.
- You must relocate from a country that has an administrative cooperation agreement on tax matters with Greece (i.e. a tax information exchange or double taxation treaty in place).
- You must be entitled to receive a foreign pension from one of the following:
- National or statutory social security scheme
- Occupational pension institution
- Collective retirement plan
- Private insurance company providing retirement benefits
Tax Incentives Under the Regime
- A flat tax rate of 7% applies to the pensioners’ foreign-sourced income. This tax is paid annually in a lump sum by July 31 of each year.
- You can benefit from the Pensioner’s Regime for up to 15 years.
- Any income earned within Greece is taxed under the normal national tax rates.
- If a DTT exists between Greece and the country of income origin, exemptions may apply—potentially eliminating double taxation.
Application Deadlines & Process
- The deadline to apply for the Pensioner’s Regime is March 31 of the respective fiscal year.
- Supporting documents can be submitted within 2 months from the application date. Required documents typically include:
- Proof of foreign pension (e.g. statements from public pension funds, insurance companies, or occupational pension schemes)
- Tax residency certificate from the country of departure
- Documentation proving the applicant meets the conditions of the regime
You may opt out of the regime at any time. In the event of a revocation, the individual shall be taxed in accordance with the general tax provisions for the tax year during which the revocation application is submitted.
