Understanding Greece's tax system helps you optimise finances.
- A European Union member since 1981 and part of the eurozone, Greece uses the euro (EUR).
- Greece belongs to the Schengen Area, allowing free movement across much of Europe.
- Its coastline stretches about 13,600 km, among the longest in the world.
Public transport in Athens includes a convenient metro, buses and trams.
Fresh food, sunny weather and a relaxed pace are big pluses.
Personal income tax
The Vietnamese community is small but present in Athens.
Opening a bank account requires a passport, tax number and residence documents.
Summers can be very hot, so choose a home with air-conditioning and near the sea if possible.
Business and capital tax
As an EU and eurozone member, Greece accesses the European single market.
Labour costs are more competitive than in Western Europe, appealing to some investors.
Renewable energy and technology are emerging growth areas.
Tax breaks for newcomers
When buying, budget for transfer tax, notary and legal fees on top of the purchase price.
- Greece runs a Golden Visa programme granting residence to real-estate investors.
- Since August 2024 the minimum investment rose to around EUR 800,000 in prime areas such as Athens, Thessaloniki, Mykonos and Santorini.
- In many other areas the threshold is roughly EUR 400,000, with lower tiers for certain heritage-restoration projects.
- The Golden Visa residence card is valid for five years and renews while the investment is held.
- The programme sets no minimum-stay requirement, which suits busy investors.
Banking and transfers
Rents outside central Athens are often softer than in many Western European cities.
The public health system (ESY) serves residents, though many add private insurance.
Residence holders must register a tax number (AFM) and a social-security number.
Financial planning
The cost of living in Greece is among the most comfortable in the EU.
The official language is Greek, while English is widely spoken in tourism and larger cities.
Greece counts more than 6,000 islands and islets, of which roughly 200 are inhabited.
Need a tailored roadmap?
Viking Global Group walks with you from paperwork to settlement. Call +849.219.219.88 or email [email protected] for a free consultation.
Related articles
- Settling into Greece: your first six months
- Greece and the world: relations, distance and connectivity
- Economy & Opportunity
Frequently asked questions
How are residents taxed in Greece?
Tax residents of Greece are generally taxed on worldwide income, while non-residents are taxed on Greek-source income. Personal income tax is progressive, and returns are filed annually according to the tax authority's schedule and guidance.
Are there special tax regimes for newcomers?
Greece offers special regimes for certain people transferring tax residence, such as pensioners with foreign pensions, workers relocating to Greece and high-net-worth individuals with foreign income, each with conditions. A tax adviser can assess eligibility.
What is needed to open a bank account?
Banks usually require a passport, Greek tax number, proof of address, residence documents and information about the source of funds and account purpose. Know-your-customer checks are strict, and in-person attendance may be required.
Do foreign residents need to consider home-country taxes?
Yes. Depending on your home country's rules, you may still have filing obligations there, and double tax treaties determine which country taxes which income. Professional advice in both countries helps avoid double taxation and missed filings.
How can residents manage personal finances in Greece?
Budget based on local living costs, keep an emergency fund, track tax deadlines, keep receipts for deductible expenses and be cautious with borrowing. Card payments can be relevant to certain tax rules, so it is worth understanding how they are treated.
Information is for reference and may change under the latest official policy. Please contact us for current regulations.
