Does the Greek Golden Visa Make You a Tax Resident?

Holding a Greek residence permit and being a Greek tax resident are two separate things. Many investors ask whether the permit puts them in the Greek tax system. The short answer is no, not by itself. What decides tax residence is where you actually live and where your life is centred.

Permit versus tax residence

• The permit is an immigration status. It gives the right to reside in Greece and, with no minimum stay, does not require you to live there.
• Tax residence is a tax status. Under Greek law a person is generally a tax resident if they spend more than 183 days in Greece in a 12-month period, or if Greece is the centre of their vital interests, for example a permanent home, family or main business.

If you do not spend more than half the year in Greece and your life is elsewhere, owning a property and a permit does not by itself make you a Greek tax resident. If you move your life to Greece, you probably will become one.

What the property does for tax

Even as a non-resident you pay Greek taxes connected with the property: the annual property tax ENFIA and income tax on any rent. See property taxes in Greece.

The non-dom option

If you become a Greek tax resident, a special regime for new residents with a flat annual tax on foreign income exists, with conditions on your previous tax residence and on investment. Read non-dom status in Greece and confirm the current terms with a tax adviser, since the details have changed over the years.

Your home country matters too

Your country of citizenship or previous residence may still tax you, for example on worldwide income or on leaving. A double tax treaty between Greece and that country can decide which state taxes what. This is the part that most often needs a specialist.

What to do before you buy

1. Decide how many days a year you will really spend in Greece.
2. Ask a tax adviser in your home country and one in Greece how the plan is taxed on both sides.
3. Keep a day log if you want to stay under 183 days.
4. Check whether a move to Greece would make the non-dom option useful.

To compare residence options and costs, start with Greece Golden Visa and the calculator.

This material is informational and is not tax advice. Tax rules depend on your situation: consult an adviser.