The Little-Known Greek Tax Loophole
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- Опубліковано 27 лип 2024
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Greece has captured the attention of both tourists and investors with its breathtaking landscapes, rich history, and vibrant culture. In particular, the country’s flat tax regime has solidified its position as an attractive destination for foreigners seeking tax-efficient residency options.
In this video, Andrew shares the little-known Greek tax loopholes.
Since producing this video, Greece has indicated it may reduce its Golden Visa investment for all real estate back to 250,000 euros. Those interested in this program can email us at help@nomadcapitalist.com to learn how we can help.
00:00 Start
0:20 Tax Reduction
2:30 Benefits of Moving to Greece
4:40 Moving Business Overseas
7:14 Greece Golden Visa
The Nomad Capitalist is the world's most sought-after expert on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best."
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Our growing team of researchers, strategies, and implementers add to our ever-growing knowledge base of the best options available. In addition, we've spent years studying the behavior of hundreds of clients in order to help people get the results they want faster and with less effort.
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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
Got The Golden Visa in Greece last year. Life has never been better! Greek islands are an amazing place to live.
It's something I've been thinking about. Considering Corfu but little concerned whether it is suitable for year round living?
Also thinking about Corfu, or maybe Crete. Where did you settle?
What are your views on Green property taxes?
The only certain thing about Greece is uncertainty. Greece is one of the most beautiful countries in the world and you can enjoy it as long as you DO NOT work there or have any business dealings in the country. The Greek bureaucracy is like an octopus with never-ending tentacles, once you are in its grip, it will never let you go!
Definitely a place to live, but keep your wealth elsewhere.
Greece is getting better! The election this month will determine where the country wants to go
Exactly
@@GF-hg7op Do you think the future is likely to be better for Greece or Turkey? Turkey also has an upcoming election this month.
@@pinetworkminer8377 I'm not sure about Turkey tbh. In my view it has a substantial country risk due to being ruled by a dictator. Greece on the other hand is finally sort of trying to liberate its economy a little bit and it has probably hit rock bottom as an economy so it can only go up from here. Let's see what happens though
Greece has a golden visa for 500,000 EUR for Athens and Thessaloniki and a few other places (!) but the rest of the country remains at 250,000 EUR. There are still options at 250,000 EUR, thankfully.
This video about to go viral in greece
nice to know you can get residency if you're really interested in living in the Greek culture
They announced that by August the Golden Visa will increase from 250k to 500k
I’m thinking about moving to Greece.
Applied for my citizenship by descent last year. Still waiting.
That sounds about right
Lots of opportunities for investment in Greece.
It's a relationship-based culture.
Interesting!! Thank you
Thanks very much for this mate
Would you please talk about the changes in Cyprus slow track and fast track residency permit
Although I have Norwegian in my ancestry I have thought about moving to Norway but the insane taxation there makes me second guess that 😓
Did Andrew explain the minimum stay requirement to take advantage of this ...?
a wild yet feasible option..
I’m surprised you’re not talking about El Salvador. They just eliminated a ton of taxes for Tech Companies including property taxes.
We discuss many more relevant options with our clients than we can cover in a handful of videos per month.
The best
Nice
Thank you.
Great stuff, Andrew. Thank you.
Need to elaborate the company part, if you want to reduce company tax burden
Yes...
yes. I have one in HK. but need to check if can live in Greece at the same time.
We’d be happy to help you as our client and sort everything out for you. Feel free to email help@nomadcapitalist.com.
K let’s do it
What would happen for example if for the first 5years it's great tax incentive to pay the 100 000eur. But then it no longer is viable. Will the money made in the previous 5years all of a sudden not be protected/becomes taxable? If you opt out the 15 year cycle?
Is the lump sum tax regime available for EU citizens that have not lived in Greece?
Yes. Feel free to contact us for any help you need.
Can children over 22 (22+ years old children)of an Italian citizen be legally brought to Italy? If so, please explain how to do it
Would this work for a trader and not a business owner?
What about the 7 percent on foreign sourced income? Have a company in estonia and pay the 20 percent there and spend the money in greece, and pay the 7 percent in greece (foreign sourced income) and get a good deal on an appartment buy it for 10k -30k, register the address with the greek police alien department, and get a residence permit that way, with my dutch passport and move my PE to greece? What do you think?
I'm confused. Setup your company outside of Greece but live in Greece for the tax loop. Where are you setting up that company and won't that country require you to pay taxes (separate from the 5% loop hole)
Not if you setup the company in a tax free country such as Dubai or HK
Do you have to live in Greece for a minimum amount of time?
Hello I am from Greece 🎉🎉🎉
Welcome.
really? WOW!
Why to not move to Dubai and pay nothing?
greece is beautiful for a life...dubai maybe interesting for 1 week holiday
Dubai is an open air prison. I worked there for a year. You need police permit to be able to buy alcohol from the 2 shops that sell alcohol in Dubai
@@marilenaganea6578 and they love to see your health test every year...otherwise you can leave
@@CarstenBachmeyerHealth the health test didn't bother me. The fact that you can go straight to prison for having a boyfriend is a huge problem especially if you live there long term. The fact that if you are raped and report it to the police you'll go to prison asap for "sex outside the marriage"... So many reasons to never go there ... Ever...
@@marilenaganea6578 the health test is one of the biggest problems..we had something like this in dark germany
tesslakoni :)
Italy 7%
For a lesser period of time, and lump sum can still be cheaper for high earners.
But after the 14 years
This is a better video than that "dollarization" video you put out yesterday.
Jesus 😂
Buy greek stocks and bonds in the amount of half a million euros 😂
Pay 5% tax and live in a place where your income is 5% of American and be happy that you gamed the system 😂
Our clients earn their income regardless of where they live.
Pay 0% tax in Greece if you bribe the tax officer 1000 Euros!
nah, thats egypt, cant happen in Greece.
@@dimitristheodorakakis5743 it can definitely happen. Seen and heard tons of cases like those. Maybe you have never met a good accountant.
Greece is a basket case same as the rest of Europe, just get yourself to the Caribbean and pay zero tax, the Greek islands are not that great and the mainland ( apart from the north ) is dreadful, borderline 3rd world.
Don't believe the hype
So can I take a pension from Canada and retire in Greece? Pay 5% instead of declaring in Canada?
We would be happy to help you evaluate your own situation: www.nomadcapitalist.com/apply/
Love Greece 🫶 they have some cool projects in Athens too like Ellinikon smart city
Last place I would want to live is a smart city aka 15 min digital prison