Athens Wooing High-Income Foreigners

Athens Wooing High-Income Foreigners

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The Greek Finance Ministry is examining the idea of offering tax incentives to high-income foreigners who choose to relocate to Greece, based on similar regulations that are in force in countries such as Switzerland and the United Kingdom.

According to sources the ministry is processing a clause that will provide for foreigners, such as business executives or pensioners, who choose Greece for their permanent residence to get taxed only for the income earned in this country, while their incomes from abroad will be exempt.

The tax rate will be fixed for them. Should that clause be agreed upon, as daily Kathimerini reports, it will be incorporated in the Development Ministry bill for the “formation of a business-friendly environment, for strategic and private investments.” The bill, which will bring changes to the licensing system for strategic investments and investment incentives legislation, is expected to come to Parliament early next month.

(Source: ANSA)