An Expat Guide to Living in Greece (Updated 2025)
If you’re a UK citizen living in or planning to move to Greece, it’s essential to understand how your finances will be affected. Greece’s tax system has evolved in recent years, with new opportunities — and obligations — for foreign residents.
Alongside our expertise in Retirement and Investment planning and to help you navigate local tax situations and reporting, we’ve partnered with local experts based in Greece who provide on-the-ground insight and support. Our combined knowledge ensures you get practical, compliant, and tax-efficient advice tailored to expat life.
This guide walks you through key areas: residency rules, taxation, pensions (including QROPS and SIPPs), social contributions, and — importantly — Greece’s Non-Dom regime and Golden Visa program.
Asset Reporting
Once you become a Greek tax resident, you’re required to declare your worldwide income and assets. While Greece does not currently require a separate foreign asset reporting form like Spain’s Modelo 720, all foreign bank accounts, real estate, and securities must be included in your annual tax return (E1, E2, E3 forms).
Greek Tax Residency
You’re considered a Greek tax resident if:
- You spend more than 183 days/year in Greece (including short stays)
- Your main centre of vital interests (family, business, assets) is in Greece
Greek residency triggers global taxation, unless you qualify for one of the special expat tax regimes — such as the Non-Dom (HNW) scheme or foreign pensioner flat tax regime.
Greek Taxation & Social Contributions
Greek personal income tax is progressive:
- 9%: Up to €10,000
- 22%: €10,001 – €20,000
- 28%: €20,001 – €30,000
- 36%: €30,001 – €40,000
- 44%: Over €40,000
An additional Solidarity Contribution was suspended until further notice for most taxpayers but may return depending on budget laws.
Capital Gains Tax (CGT)
- Real estate gains: 15% flat (rarely applied due to exemptions and delays)
- Shares & securities: 15% CGT on listed shares (subject to treaties and exceptions)
ISAs and other UK tax-free wrappers are not recognised in Greece — interest, dividends, and capital gains are taxable as regular income. Planning with Greek-compliant structures is essential.
Social Security (EFKA Contributions)
- Employees: ~16% personal; ~25% employer
- Self-employed: Flat-rate based on income bands (€220–€570/month approx.)
- UK retirees with S1: Can access Greek healthcare without contributing
Inheritance and Gift Tax in Greece
Greek inheritance tax applies to global assets if you are a resident. Rates and exemptions depend on your relationship to the deceased.
- Spouse or child: €150,000
- Other close relatives: €30,000–€50,000
- Non-relatives: Very low exemption (approx. €6,000)
- Spouse/children: 1%–10%
- Others: Up to 40% for distant relatives and non-relatives
Greece follows civil inheritance law, but there is no forced heirship as in France — meaning greater flexibility in estate planning.
UK Pensions & Retirement in Greece
Defined Contribution (DC) Pensions
Common reasons to review or transfer pensions:
- Avoid annuity lock-in
- Optimise drawdown and income tax strategy
- Reduce GBP/EUR currency mismatch
- Improve death benefit flexibility
Defined Benefit (DB) Pensions
Transferring out may be suitable if:
- Your health reduces your life expectancy
- Your scheme is underfunded
- You want access to capital or legacy flexibility
- Leave it in the UK: Still viable, though limited post-Brexit
- QROPS (EU-based): Malta is a popular option for Greece-based expats, with no UK tax and EU recognition
- SIPPs: Regulated in the UK, flexible, and compatible with investment bonds
Tax on UK Pensions in Greece:
There are two main routes to tax UK pensions in Greece:
Option 1: Flat 7% Tax Regime for Foreign Pensioners
- Must apply in the first year of tax residency
- 7% flat tax on all pension income*
- Valid for 15 years
Option 2: Standard Income Tax Rates
- Pensions taxed as regular income (see IRPF bands above)
- Potential double taxation relief via UK–Greece DTT
Greece Golden Visa (2025)
Greece offers a residency-by-investment program for non-EU nationals:
Eligibility (2025 updates):
- €250,000 minimum property investment in most areas
- €500,000 in premium zones like Athens Riviera, Mykonos, and Santorini
- Alternative routes: Capital contribution, real estate leasing, or time-share
Benefits:
- No requirement to live in Greece
- Residency for the whole family
- Pathway to permanent residence and citizenship after 7 years
Non-Dom Regime for High Net-Worth Individuals (HNWIs)
Key features:
- Flat tax of €100,000/year on all pension income*, regardless of amount
- Optional €20,000 per additional family member
- Exempt from Greek income, inheritance, and gift tax on non-Greek assets
- Available for up to 15 years
Eligibility:
- Must invest at least €500,000 in Greece (real estate, business, bonds, etc.)
- Must not have been a Greek tax resident for 7 of the previous 8 years
- Apply within the first year of becoming tax resident
This regime is ideal for those with significant passive income or global wealth looking for tax certainty and simplicity.
Final Thoughts
Living in Greece as a UK expat offers a compelling blend of climate, cost of living, and lifestyle — but without structured financial planning, you may face unnecessary tax burdens or compliance risks.
We work with experienced legal and financial professionals based in Greece to help you navigate the rules confidently and efficiently.
Top tips:
- Apply early for the 7% pension regime or HNWI tax flat rate
- Structure investments using Greek-compliant bonds or wrappers
- Plan for inheritance tax and check thresholds based on residency
- Evaluate a QROPS or SIPP depending on your retirement timeline
- Declare foreign assets as part of your Greek tax return
Contact Us
Thinking about moving to Greece or already living there?
We help UK nationals navigate Greek residency, taxation, pensions, and succession. You’ll work with local, bilingual professionals in Greece who understand the expat journey firsthand.
✅ QROPS/SIPP reviews and transfer planning
✅ Access to 7% pension tax regime & Non-Dom options
✅ Greek-compliant investment solutions
✅ Golden Visa routes and relocation support
👉 Contact us for a free consultation with a UK–Greece cross-border adviser.
Pension Income*:
The applicant must be recipient of pension income paid by
(i) a foreign social security institution,
(ii) a governmental authority,
(iii) an occupational pension fund,
(iv) an insurance indemnity paid in a lump sum or in annual payments by a private insurance company in the context of a group pension plan.
