Greece ranks among the top retirement destinations globally, placed around 12th best country in the world for retirees in the Global Retirement Report 2025, based on factors like ease of relocation, cost of living, and incentives. In the last three years, more than 1,500 investors, pensioners and professionals have reportedly relocated to Greece.
Greece is especially attractive to foreign pensioners because it offers a mix of relaxed living, warm climate, and deep everyday culture at a human pace. The cost of living in many regions in Greece remains lower than in many places in northern Europe or North America.
Additionally, Greece has introduced attractive regimes for people who wish to invest or transfer their tax residence to the country.
Tax incentives for pensioners transferring their tax residence in Greece
The Greek Income Tax Code provides for an alternative taxation of income arising from pensions abroad, for natural persons who transfer their tax residence in Greece.
More particularly, it is provided that the pensioner shall pay each fiscal year, tax at the rate of 7% for his income arising abroad.
Conditions:
- The pensioner was not a Greek tax resident for the previous 5 years out of 6 before the transfer of his tax residence to Greece
- The pensioner transfers his tax residence from a country with which there is an agreement for administrative cooperation in tax matters with Greece.
Duration:
The application of these provisions begins on the following year from the fiscal year in which the application is submitted, and it expires after 15 fiscal years.
Residence Permit Options for pensioners wising to retire in Greece
For pensioners arriving from non- European Union countries, there exist residence permits options allowing them to reside permanently in Greece.
Golden visa:
The Greek Golden Visa Program typically refers to the residence permit which is available to investors in real estate in Greece.
The Greek Golden Visa Program is very popular, as it is one of the most affordable ones worldwide, and it provides to the applicants the right to live in Greece as well as visa-free access to Europe’s Schengen Area.
The amount of investment in real estate starts at 250 000 euros (but it can be 400 000 euros or 800 000 euros depending on the type of property and the location of the property).
Other than real estate, investment into start-ups or securities or bank deposits also gives access to residence permits for investors.
Financially independent persons:
Persons who demonstrate that they have the requisite income in order to be qualified as financially independent may apply for a residence permit in Greece, valid for 3 years, and which may be renewed (provided that the requirements are still met at the time of renewal).
The minimum amount of the income is 3500 euros per month and is increased by 20% for the spouse. The income may be proved by a pension from abroad, a bank account or other proof that the person disposes of financial means of a legal origin.
This type of permit, allows the beneficiary to reside legally in Greece, provided that he/she is not allowed to exercise any professional or business activity in Greece, either as an employee or an independent professional.
Should you require any additional information, please do not hesitate to contact us. Our team is ready to advise and assist you in planning your relocation to Greece.
This publication is for informational purposes only, and does not constitute legal or tax advice.
