I purchased a property in Athens last year that I want to start renting out using Airbnb. Will I be taxed as a Golden Visa holder on this income? What kind of requirements do I need to make sure it’s a legal rental property as a Golden Visa holder?
Yes, of course you must declare rental income in Greece and the Golden Visa has nothing to do with this. If your property is advertised in Airbnb or any other rental portal, you should register your property to the registry of short duration leases which has been created in this effect by the Greek government.
You will need to pay tax as an Airbnb used and owner of a property in Greece, which also allow you to be a Golden Visa holder. You can rent your property as per the terms and regulations of Airbnb. However, you will need to seek the advice of an accountant or tax representative for further information on this matter.
There in no difference if you are a Greek person or a Golden Visa holder. You need to pay the rental tax.
As far as tax statements/reports, ask an accountant.
Let’s start my answer from an advantageous characteristic of Greek Golden Visa program. Third-country citizens who own real estate in Greece as Golden Visa holders have the right to rent their property from the very first moment, independently, under long-term status or a short-term lease. Regarding the taxation status of short-term lease income: As of Jan. 1, 2017, the income that an individual acquires from the short-term lease of a property of the sharing economy (Airbnb) is considered as income from long-term lease of the immovable property, provided that the property is leased furnished without the provision of any service other than the provision of bed linen. In this case, the rents are taxed with the following scale: for income up to 12,000 euros with 15%, for income from 12,001 euros to 35,000 euros with 35%; while the excess with 45%. On these revenues, only 5% of gross revenue is deducted by law, not other expenses. If there are any other additional services , like cleaning services or breakfast, are provided, the individual's income is taxed as income from a business activity, on the following scale: for income up to 20,000 euros with 22%; for income from 20,001 euros to 30,000 euros with 29%; income from 30,001 euros to 40,000 euros with 37%; while the excess by 45%. Normally a tax advance payment is also calculated. However, in this case, the taxpayer may, if he commences business (keeps accounting records, etc.), deduct from the taxable income all expenses (and any depreciation) related to the property. Therefore, taxing the relevant income as property income (rather than as income from business) seems a tax-friendly option, but it should always be examined the level of income, real costs incurred in relation to the property and renting it, if it is intended to provide additional services to tenants, etc. In any case it would be advisable to contact a consultancy Company with expert staff to advise you accordingly for all the existing parameters in this market.
Please be aware that for any given purchase of property on Greece, as you obtain a fiscal number in Greece, you are obliged to declare this. There are no exceptions for Golden Visa holders according to ongoing applicable legislation. The same is applicable for rental income as well as Airbnb income.
Regardless of the fact that you are a Golden Visa holder, you are totally obliged to declare any income that you have in Greece.
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