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Taxation Freelance activity sole-trader business in Greece – standard Greek tax rules

If a tax resident abroad becomes a Greek tax resident, and starts providing services from Greece under a freelance activity/sole-trader business in Greece, the tax treatment of the relevant income derived in Greece will be determined as follows under the standard Greek tax rules. According to the general rules, based on articles 3, 5 and 29 of the Income Tax Code: - Individuals who have their tax residence in Greece are subject to tax on their income derived both within Greece and abroad, i.e., their global income earned in a taxable year. - Income derived in Greece is any income from a source...

13 Mar 2025

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Labor accidents and employer’s obligations under Greek law: What Law 3850/2010 defines

in Labor & Employment, Special topics

Protecting the health and safety of workers is a fundamental obligation of every employer. Law 3850/2010 describes in detail the responsibilities and obligations of companies with regard to the prevention and management of occupational accidents. In this article, we examine the main provisions of the law, the obligations of employers and the possible legal consequences in case of their violation. Employer's obligations under Law 3850/2010 • Obligation to employ a safety technician and an occupational physician According to Article 8 of the law, enterprises employing more than 50 workers are required to have a safety technician and an occupational physician. They have an...

07 Mar 2025

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Greek tax treatment of UK pensions

According to article X par. 2 of the Double tax treaty between Greece and the UK, any pension and any annuity, derived from sources within the United Kingdom by an individual who is a resident of Greece and subject to Greek tax in respect thereof, shall be exempt from United Kingdom tax. Based on the above, it derives that, by application of the relevant DTT provision, any pension income falling under the definition of article X and arising in the UK would be exempt from UK tax, on the condition that said income is subject to tax in Greece, being the...

26 Feb 2025

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Golden Visa – Table of permitted investments (articles 99-100A of Law 5038/2023)

in Immigration Law, Special topics

INVESTMENTS IN IMMOVABLE PROPERTY Category of investment Minimum value Comments - Remarks Purchase of property in the regions: Region of Attica, Regional Unit of Thessaloniki, Mykonos and Thira (Santorini), and islands with a population of more than 3.100 inhabitants. €800.000 The purchase of real estate is carried out on a single property. If it is a built property or a property for which a building permit has been issued, a minimum of 120 square metres of floor area of the main premises is required. In the case of investment through purchase of an undivided co-ownership share in a property, the minimum value of the co-ownership share is set...

17 Feb 2025

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Practical guide to the preferential tax regimes available for individuals moving their tax residency to Greece

Since the end of 2019, Greece was added to the list of countries that have enacted favorable tax regimes designed to attract individuals to move their tax residence in the country. These regimes are (i) the non-dom tax regime, (ii) the pensioner regime, and (iii) the employee and self-employed regime, known as 5A, 5B and 5C regimes respectively, as per the corresponding articles of the Income Tax Code by which they were introduced. This article provides an overview of the most important features of each of them, considering the most recent amendments and administrative interpretations since their enactment. 5A non-dom tax...

14 Oct 2024

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Residence permit (Golden Visa) for third country nationals who invest in Greek State Bonds or other financial instruments (summary of options)

in Immigration Law, Special topics

According to the provisions of Law 5038/2023, article 99 et seq (as amended by Law 5130/2024), by decision of the Minister of Immigration and Asylum, upon the proposal of the Foreign Direct Investment Directorate of the Ministry of Development and Investment, a residence permit may be granted to third country nationals who have made an investment in Greece in one of the following categories: (a) contribution of capital, in the amount of at least €500,000, to a company having its registered office or establishment in Greece, with the exception of Portfolio Investment Companies and, subject to sub-paragraph b, Real Estate Investment...

07 Oct 2024

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Non-dom regime under article 5A of the Greek Income Tax Code: eligible investments and retention period according to the applicable Ministerial Decision No 46834/2023.

Introduction The Joint Ministerial Decision No. 46834/2023 (Government Gazette B' 3393/19.05.2023) of the Minister of Finance and the Minister of Development (hereinafter MD), as amended by the Joint Decision No. 30257 EΞ 23.02.2024 of the Deputy Minister of Finance and the Minister of Development, stipulates the eligible categories of investments for the non-dom regime of Article 5A of the Greek Income Tax Code (hereinafter ITC), the period of their retention in Greece, the procedure for the completion of the investment, the monitoring of the retention of the investment, the termination and the change of the investment after its completion. The MD...

23 Sep 2024

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Tax incentives to attract private individuals to settle in Greece

In the context of tax competition to attract taxpayers, several countries have introduced incentives to attract individuals, as they do to attract businesses. The benefits for countries that attract individuals to settle in them are multiple, as in addition to collecting the tax "consideration", individuals spend and invest in the country of residence. Examples of countries that have introduced similar incentives are England, Portugal, Italy, Cyprus and others. Greece introduced the first incentive with Law 4646/2019. Brief description of the incentives The incentives that Greece has introduced are divided into 3 categories, known as 5A, 5B, and 5C of the Income...

23 Sep 2024

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Appeals procedure against acts of the tax authority