GREECE AS A DESTINATION FOR INTERNATIONALLY MOBILE WEALTH: THE GOLDEN VISA AND THE NON-DOM TAX REGIME
Greece has emerged, over the past decade, as a serious competitor in the European market for internationally mobile capital and globally mobile individuals. Two distinct but complementary legal frameworks sit at the centre of this repositioning: the Residency by Investment Programme, commonly known as the Golden Visa and the Special Tax Regime for High-Net-Worth Individuals, widely referred to as the Non-Dom regime. Each regime operates on its own logic; together, they form a coherent platform for internationally connected individuals considering a Greek nexus.
THE GREEK GOLDEN VISA: THE CURRENT FRAMEWORK
The Greek Residency by Investment Programme grants non-EU nationals a renewable five-year residence permit in exchange for qualifying investment in Greece.[1]
For real estate, three investment tiers apply. In high-demand areas — Attica, Thessaloniki, Mykonos, Santorini and islands with over 3,100 residents — the minimum is €800,000. In all other regions, a minimum threshold of €400,000 applies. In both cases, the property must be a single residential unit of at least 120 square metres. A reduced threshold of €250,000 is available exclusively for commercial-to-residential conversions and the restoration of listed buildings, regardless of location; for conversions, the works must be completed prior to application. [2]
FAMILY INCLUSION AND DURATION
The permit is valid for five years and is renewable without limit on successive five-year terms, making it a de facto permanent residence solution for investors who maintain their qualifying investment.[3]
Crucially, there is no minimum period of physical presence in Greece required to maintain the residence permit. Thus, golden visa holders may reside in Greece and travel freely within the Schengen Area, with no minimum period of physical presence required.
A notable feature of the programme is its scope of family inclusion: the main investor's spouse or registered partner, their unmarried dependent children up to the age of 21, and the parents of both the investor and spouse are all eligible for inclusion without additional investment.[4]
PRACTICAL CONSIDERATIONS
The Golden Visa is issued for five-year renewable periods, conditional on the continued maintenance of the qualifying investment. Disposal or material restructuring of the investment prior to renewal may affect eligibility. Applications require at least one physical appearance in Greece for biometric purposes, though the remainder of the process may be conducted through a duly authorised representative.
THE NON-DOMICELED TAX REGIME: A TAX ARCHITECTURE DESIGNED FOR INTERNATIONALLY CONNECTED INDIVIDUALS
The Special Tax Regime for high-net-worth individuals represents Greece's most ambitious instrument for attracting internationally mobile wealth[5]. Its design is deliberate: a fixed, predictable annual tax charge on all foreign-source income, replacing the conventional obligation to declare and be taxed on worldwide income at progressive rates reaching up to 44%.
The regime is framed as an alternative taxation method rather than an exemption. Foreign-source income including capital gains, dividends, interest and other passive income generated outside Greece is subject to a single annual lump-sum tax of €100,000, irrespective of the quantum of such income.
CONDITIONS FOR ELIGIBILITY
Access to the regime is subject to two cumulative conditions.
The first is a prior non-residency requirement. The applicant must not have been a Greek tax resident for seven of the eight years immediately preceding the transfer of their tax residence to Greece.
The second is an investment condition. The applicant or a qualifying relative (spouse or persons in the ascending or descending line of kinship), or a legal entity in which the applicant holds a majority interest must invest at least €500,000 in real estate, businesses, or transferable securities or shares in legal entities based in Greece. The investment must be completed within three years from the date of the application. Notably, where an individual holds a qualifying residence permit for investment activity in Greece, the investment condition is waived, subject to certain conditions.
MECHANICS AND FAMILY EXTENSION
Upon acceptance of the application, the regime operates by substitution. Instead of calculating and reporting income earned abroad, the taxpayer pays a flat tax of €100,000 for each tax year, in a single instalment due on or before the last working day of July.[6]
The regime may be extended to qualifying family members. Each additional family member included incurs a supplementary flat tax of €20,000 per year. Importantly, where family members are included, the provisions on inheritance, gift and parental grant tax shall not apply.
Applications must be submitted to the competent tax authority by 31 March of the relevant tax year. Applications submitted after that date are deferred to the following tax year.
DURATION AND SCOPE
The regime has a maximum duration of 15 fiscal years. It terminates automatically upon the lapse of this period or upon failure to pay the annual lump sum. Voluntary withdrawal is also available.
The regime's scope is limited to foreign-source income. Greek-source income continues to be taxed under the standard rules of the Income Tax Code.
Under a recent amendment, the regime extends to inheritance and gift tax: the individual is exempt from Greek inheritance and gift tax on movable property located abroad, whether received by death or gift, or transferred to third parties on either basis.[7]
THE INTERACTION BETWEEN THE TWO REGIMES
For internationally mobile high-net-worth individuals, the Golden Visa and the Non-Dom regime are structurally complementary rather than merely parallel.
Where a Golden Visa investment meets or exceeds the €500,000 threshold, the Non-Dom regime's investment condition could potentially be waived entirely. Conversely, satisfaction of the Non-Dom investment condition does not confer residency; for non-EU nationals, the Golden Visa remains the natural and most efficient vehicle for that purpose.
The combined package — residence permit, Schengen mobility, tax predictability capped at €100,000 per year, and a pathway to citizenship — compares favourably with analogous regimes in Europe.
CONCLUSION
Greece has developed a coherent and increasingly well-regarded suite of tools for attracting internationally mobile individuals and capital. The Golden Visa and the Non-Dom regime are the twin pillars of this effort. Each is capable of delivering real value in isolation. Together, and when properly structured, they create a framework for residency, mobility, tax predictability and, in time, citizenship that competes effectively with the leading programmes in Europe.
For globally connected families, the assessment of these options requires a disciplined analysis that extends beyond headline rates and investment thresholds. The interaction with existing tax residency positions, succession arrangements, trust structures and double taxation treaties must all be considered as part of a holistic approach.
Legal and tax environments evolve. The frameworks described in this article reflect the position as currently in force, but both programmes have demonstrated their susceptibility to legislative adjustment. Timely advice and periodic reassessment are essential.
SKANDAMIS AVOCATS regularly advises high-net-worth individuals and internationally mobile families on the structuring of residency, investment and tax planning arrangements in Greece, with a focus on precision, discretion and long-term resilience.
[1] Governed principally by Law 5038/2023
[2] As per article 100 paragraph 2 of Law 5038/2023, currently in force after being modified by article 64 of Law 5100/2024
[3] According to article 100 paragraph 4 of Law 5038/2023
[4] Pursuant to article 95 paragraph 2 of Law 5038/2023
[5] Under Article 5A of Law 4172/2013 (Greek Income Tax Code)
[6] Under article 5A paragraph 2 of Law 4172/2013
[7] As per article 5A paragraph 8 of Law 4172/2013 as amended by article 206 paragraph 5 of Law 5222/2025
