Greece’s tax incentives and residency programs are bringing a steady flow of wealthy individuals, executives, and their families to Athens, with new arrivals coming from the U.K., the U.S., Germany, China, the Middle East, and beyond.
About 500 people have applied for Greece’s non-dom regime since its launch in 2020, according to the Greek finance ministry, around half of them from outside Europe. The regime offers a €100,000 annual flat tax on foreign income to new residents who invest at least €500,000. Nearly 1,500 retirees have applied for a separate 7% flat-tax scheme, and about 10,000 executives, employees, freelancers, and entrepreneurs have applied for a 50% income tax exemption for people relocating to Greece. This summer, the government cut the tax rate on carried interest to 5% for investment managers who relocate, provided their Greek operation spends at least €3 million a year in the country.
The mix of nationalities is widening. Chinese and Middle Eastern investors led the first wave through Greece’s golden visa program, and Chinese nationals still hold 12,700 investor residence permits, nearly half the total. More recently, buyers have been looking for a primary residence rather than an investment. At Greece Sotheby’s International Realty, non-dom buyers accounted for nearly a third of transaction volume in 2025, and more than half of them held U.K. passports.
At The Ellinikon, the redevelopment of Athens’ former airport, international buyers have accounted for up to 40% of sales since 2023, led by Americans, then Britons, Germans, and Swiss. Agents also report interest from Australia and from Middle Eastern buyers looking for a second base because of regional instability. Many new arrivals rent before buying, and some expect to stay three to five years rather than permanently. Advisers say the shortage of international school places and suitable housing is the main constraint, and an international school at The Ellinikon is not due to open until 2028.
IAM Member Impact: Because many wealthy arrivals rent first or plan stays of three to five years, expect demand for storage in transit, phased deliveries, and eventual return moves, as well as high-value shipments for those who buy. Greek members should also expect demand for destination services such as school searches, housing, and help with Greek bureaucracy.
Source: Financial Times