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How is the tax residency status defined in Greece?

I want to minimize the taxable items of my investment after I get a resident permit through the Golden Visa program. I learned that tax residency is determined not merely based on one’s physical presence in Greece. How exactly is it defined? How can I minimize my tax liabilities?


Answers
  • Elissavet (Isabelle) Razi

    Right Target Estate
    October 10, 2018

    By getting the permit of residency you will not get the tax residency in Greece. Tax residency is necessarily obtained if you open a business in Greece, get employed in Greece or become an active partner in a company. Other than that, no tax residency is obtained due to the fact that you received the permit of residence or you purchase a property in Greece. Nevertheless and irrespectively of where you have your tax residency, you will be liable for property tax and tax on rentable income of your property in Greece, if this is applicable.

  • Mary Tsiganou

    Energopiisi SA Investment Consulting Services
    October 10, 2018

    First of all, the permanent residency title does not mean automatically taxing (fiscal) residency of a person. According to the law in force, an individual person is considered a tax resident of Greece, provided that: Greece is the permanent or principal residence, or habitual abode or center of vital interests, i.e., personal or economic or social ties; second, if the individual has a physical presence in Greece for a period exceeding 183 days within any 12-month period, continuously or intermittently, then he or she is considered a tax resident in Greece for tax year during which the 12-month period is completed. Otherwise, the tax obligations imposed to an investor of a property in Greece is only the annual property tax and, if the property is rented, the tax regarding the rental income.

  • Vasiliki Papaloi

    Papalois & Associates Legal
    October 09, 2018

    Property tax depends on the tax value of the property, the square meters of it, the place, etc. This is the only tax you will have to pay. If you do not declare any income in Greece, it will not be significant.