{"id":125706,"date":"2026-01-09T09:03:04","date_gmt":"2026-01-09T09:03:04","guid":{"rendered":"https:\/\/my.legal500.com\/guides\/?post_type=comparative_guide&#038;p=125706"},"modified":"2026-01-16T12:48:41","modified_gmt":"2026-01-16T12:48:41","slug":"greece-private-client","status":"publish","type":"comparative_guide","link":"https:\/\/my.legal500.com\/guides\/chapter\/greece-private-client\/","title":{"rendered":"Greece: Private Client"},"content":{"rendered":"","protected":false},"template":"","class_list":["post-125706","comparative_guide","type-comparative_guide","status-publish","hentry","guides-private-client","jurisdictions-greece"],"acf":[],"appp":{"post_list":{"below_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Fortsakis, Diakopoulos, Mylonogiannis &amp; Associates<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2026\/01\/FDMA_Logo.jpg\"\/><\/span><\/div>"},"post_detail":{"above_title":"<div class=\"guide-author-details\"><span class=\"guide-author\">Fortsakis, Diakopoulos, Mylonogiannis &amp; Associates<\/span><span class=\"guide-author-logo\"><img src=\"https:\/\/my.legal500.com\/guides\/wp-content\/uploads\/sites\/1\/2026\/01\/FDMA_Logo.jpg\"\/><\/span><\/div>","below_title":"<span class=\"guide-intro\">This country specific Q&amp;A provides an overview of Private Client laws and regulations applicable in Greece<\/span><div class=\"guide-content\"><div class=\"filter\">\r\n\r\n\t\t\t\t<input type=\"text\" placeholder=\"Search questions and answers...\" class=\"filter-container__search-field\">\r\n\t\t\t<\/div>\r\n\r\n\t\t\t\r\n\r\n\r\n\t\t\t<ol class=\"custom-counter\">\r\n\r\n\t\t\t\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Which factors bring an individual within the scope of tax on income and capital gains?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p><strong><u>Income Tax:<\/u><\/strong><\/p>\n<p>Persons who are tax residents in Greece are subject to tax for their worldwide taxable income arising in each tax year. Persons who are not tax residents in Greece are subject to tax for their taxable income arising in Greece in each tax year.<\/p>\n<p>Regardless of their nationality, individuals are deemed to be considered as tax residents in Greece, provided that:<\/p>\n<ul>\n<li>They maintain a permanent or principal residence or usual abode or centre of living interests, namely their personal or financial or social relations in Greece, or<\/li>\n<li>They are consulars, diplomatics or public officials of similar status or public servants having the Greek nationality and serve abroad.<\/li>\n<\/ul>\n<p>Furthermore, individuals who are constantly present in Greece for a period exceeding 183 days, including short periods of living abroad, are also considered as tax residents in Greece from their first day of presence in Greece. The above does not apply in cases of individuals who are present in Greece only for touristic, medical, curing or similar private purposes and their presence does not exceed 365 days, including short periods abroad.<\/p>\n<p><strong><u>Capital Gains Tax:<\/u><\/strong><\/p>\n<p>Tax is also imposed on gains (income) that are earned by an individual in each tax year in cash or in kind in the form of dividends, interest, royalties distributed by companies that are Greek tax residents or permanent establishments of foreign companies in Greece, as well as income from immovable property, provided that the property is located in Greece.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the taxes and rates of tax to which an individual is subject in respect of income and capital gains and, in relation to those taxes, when does the tax year start and end, and when must tax returns be submitted and tax paid?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>For individuals, the tax year starts on January 1st and ends on December 31st. Tax returns must be submitted by July 31st of the year following the relevant tax year.<\/p>\n<p><strong>Income Tax:<\/strong><\/p>\n<p>For tax years up to and including 2025, the taxable income from employment, pensions and business activity is subject to the following rates:<\/p>\n<table>\n<tbody>\n<tr>\n<td>Taxable Income (\u20ac)<\/td>\n<td>Tax Rate<\/td>\n<\/tr>\n<tr>\n<td>0 \u2013 10.000<\/td>\n<td>9%<\/td>\n<\/tr>\n<tr>\n<td>10.001 \u2013 20.000<\/td>\n<td>22%<\/td>\n<\/tr>\n<tr>\n<td>20.001 \u2013 30.000<\/td>\n<td>28%<\/td>\n<\/tr>\n<tr>\n<td>30.001 \u2013 40.000<\/td>\n<td>36%<\/td>\n<\/tr>\n<tr>\n<td>40.001-<\/td>\n<td>44%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>From tax years 2026 onwards, the rates are formatted as follows:<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>Taxable Income (\u20ac)<\/strong><\/td>\n<td><strong>Tax Rate<\/strong><\/td>\n<\/tr>\n<tr>\n<td>0 \u2013 10.000<\/td>\n<td>9%<\/td>\n<\/tr>\n<tr>\n<td>10.000,01 \u2013 20.000<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr>\n<td>20.000,01 \u2013 30.000<\/td>\n<td>26%<\/td>\n<\/tr>\n<tr>\n<td>30.000,01 \u2013 40.000<\/td>\n<td>34%<\/td>\n<\/tr>\n<tr>\n<td>40.000,01 \u2013 60.000<\/td>\n<td>39%<\/td>\n<\/tr>\n<tr>\n<td>&gt;60.000<\/td>\n<td>44%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The tax resulting from the above scale is subject to reductions depending on the personal situation of the taxpayer (e.g. the number of dependent children, disabilities etc). Reductions are also provided for certain sources of income or for donations made by the taxpayer.<\/p>\n<p><strong>Capital Gains Tax:<\/strong><\/p>\n<p>Dividends, interest and royalties are subject to a withholding tax, according to the following rates:<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>Source of Income<\/strong><\/td>\n<td><strong>Tax Rates<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Dividends<\/td>\n<td>5%<\/td>\n<\/tr>\n<tr>\n<td>Interest<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>Interest on corporate bonds acquired by individuals who are Greek tax residents<\/td>\n<td>5%<\/td>\n<\/tr>\n<tr>\n<td>Royalties<\/td>\n<td>20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Income from immovable property is taxed up to and including 2025 as follows:<\/p>\n<table>\n<tbody>\n<tr>\n<td>Income (\u20ac)<\/td>\n<td>Tax Rate<\/td>\n<\/tr>\n<tr>\n<td>0 \u2013 12.000<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>12.001 \u2013 35.000<\/td>\n<td>35%<\/td>\n<\/tr>\n<tr>\n<td>35.001 &#8211;<\/td>\n<td>45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>From tax years 2026 onwards, the rates for the taxation of the income from immovable property are formatted as follows:<\/p>\n<table>\n<tbody>\n<tr>\n<td>Income (\u20ac)<\/td>\n<td>Tax Rate<\/td>\n<\/tr>\n<tr>\n<td>0 \u2013 12.000<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>12.000,01 \u2013 24.000<\/td>\n<td>25%<\/td>\n<\/tr>\n<tr>\n<td>24.000,01 \u2013 36.000<\/td>\n<td>35%<\/td>\n<\/tr>\n<tr>\n<td>&gt;36.000<\/td>\n<td>45%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Does your jurisdiction provide advantageous tax regimes for individuals directly investing in or holding certain types of assets from an income tax or capital gains tax perspective?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p><strong>Non-dom regime for potential investors:<\/strong><\/p>\n<p>Individuals who wish to transfer their tax residence in Greece may be subject to income tax of 100.000 \u20ac for their foreign-sourced income for 15 tax years, provided that (a) they haven\u2019t been Greek tax residents for the past 7 out of 8 years before the submission of the relevant application and (b) they (or their relatives) invest at least 500.000 \u20ac in real estate, businesses or transferable securities or shares in legal entities based in Greece.<\/p>\n<p><strong>Non-dom regime for pensioners:<\/strong><\/p>\n<p>Pensioners of foreign countries who wish to transfer their tax residence in Greece will pay tax at a rate of 7% for their foreign-sourced income for 15 tax years, provided that (a) they haven\u2019t been Greek tax residents for the past 5 out of 6 years before the submission of the relevant application and (b) they transfer their tax residence from a state with which Greece has an active agreement on administrative cooperation in the field of taxation.<\/p>\n<p><strong>Special tax regime for employees:<\/strong><\/p>\n<p>Employees who wish to transfer their tax residence in Greece may be eligible to an exemption of 50% from the tax imposed on the income earned from employment in Greece for 7 years, provided that (a) they haven\u2019t been Greek tax residents for the past 5 out of 6 years before the submission of the relevant application, (b) they transfer their tax residence from a EU member state or an EEA state or a state with which Greece has an active agreement on administrative cooperation in the field of taxation, (c) are employed by a Greek legal entity or a permanent establishment of a foreign company in Greece and (d) declare that they will remain in Greece for at least 2 years.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are withholding taxes relevant to individuals and, if so, how, in what circumstances and at what rates do they apply?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Income from employment and pensions is subject to a tax withheld from the salary\/pension.<\/p>\n<p>Apart from dividends, interest and royalties, withholding tax is imposed on the following sources of income:<\/p>\n<table>\n<tbody>\n<tr>\n<td><strong>Source of Income<\/strong><\/td>\n<td><strong>Tax Rate<\/strong><\/td>\n<\/tr>\n<tr>\n<td>Fees for technical projects, management fees and consultancy and other services, when the receiver of the payment is an individual<\/td>\n<td>20%<\/td>\n<\/tr>\n<tr>\n<td>Insurance received from Group Pension Insurance Policies<\/td>\n<td>2,5% &#8211; 20%, depending on certain conditions<\/td>\n<\/tr>\n<tr>\n<td>Capital Transfer Gains acquired by individuals<\/td>\n<td>15%<\/td>\n<\/tr>\n<tr>\n<td>Street Vendor Supplies<\/td>\n<td>1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>The withholding tax applied on the distribution of dividends, interest or royalties exhausts the tax liability of the individuals for the specific type of income.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How does the jurisdiction approach the elimination of double taxation for individuals who would otherwise be taxed in the jurisdiction and in another jurisdiction?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Greece has entered into Double Taxation Treaties (DTTs) with 58 countries and has included in its national legislation provisions to credit foreign taxes. Moreover, Greece has signed the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (\u201cMLI\u201d).<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a wealth tax and, if so, which factors bring an individual within the scope of that tax, at what rate or rates is it charged, and when must tax returns be submitted and tax paid?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Greece does not impose taxes on wealth.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is tax charged on death or on gifts by individuals and, if so, which factors cause the tax to apply, when must a tax return be submitted, and at what rate, by whom and when must the tax be paid?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Tax is levied on property acquired by individuals in the event of death (inheritance tax), donation or parental gifts (gift\/parental provision tax).<\/p>\n<p>The inheritance tax is in principle imposed at the time of death of the deceased and is determined according to the net value of the inherited share and the relation of the inheritor to the testator, based on which the taxpayers are classified into 3 categories, with the tax rates varying from 0-40%. The tax return is submitted by the inheritor within 9 months if the deceased passed away in Greece or within 1 year if he died abroad or his inheritors were residing abroad at the time of death. The tax is usually paid in 12 bimonthly installments.<\/p>\n<p>The gift\/parental provision tax is imposed at the time that the gift contract is drawn up or at the delivery time of the movable property, when there is no document drawn up and is determined according to the value of the asset transferred and the relation of the donee to the provider, based on which the taxpayers are classified into 3 categories, with tax rates varying from 0-40%. The tax return is submitted before the drawing up of the contract and if there is none, within 6 months of the delivery of the asset to the donee. The tax is paid by the donee or the recipient of the parental gift usually in 12 bimonthly installments.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are tax reliefs available on gifts (either during the donor\u2019s lifetime or on death) to a spouse, civil partner, or to any other relation, or of particular kinds of assets (eg business or agricultural assets), and how do any such reliefs apply?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p><strong>Acquisition of first residence:<\/strong><\/p>\n<p>An exemption from the inheritance tax and the gift tax is granted to the children or the spouse\/civil partner of the deceased or the donator for the acquisition of a first residence, provided that they don\u2019t have another residence.<\/p>\n<p><strong>Exemptions on parental gifts or donations:<\/strong><\/p>\n<p>Parental gifts or donations of any kind of property to parents, children or spouses\/civil partners, when carried out through a transfer of funds via financial institutions, shall be subject to tax calculated at a rate of 10%, following a deduction of a one-time tax-exempt amount of 800.000 \u20ac.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Do the tax laws encourage gifts (either during the donor\u2019s lifetime or on death) to a charity, public foundation or similar entity, and how do the relevant tax rules apply?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Tax legislation in Greece encourages gifts to a charity, public foundation or a similar entity which is registered in a relevant register of charitable foundations or pursues public benefit purposes in Greece, as such donations are exempt from the relevant inheritance or\/and gift tax.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How is real property situated in the jurisdiction taxed, in particular where it is owned by an individual who has no connection with the jurisdiction other than ownership of property there?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>An individual who owns property in Greece is liable to pay a Real Estate Property Tax (\u201cENFIA\u201d) which is imposed annually on the property. If the property is leased, the individual must file a tax return in Greece declaring the income from the property lease and pay the relevant income tax.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Does your jurisdiction have any specific rules in relation to the taxation of digital assets?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Greece has not yet applied any specific rules regarding the taxation of digital assets.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are taxes other than those described above imposed on individuals and, if so, how do they apply?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>VAT applies on the importation and supply of goods and services where they are carried out for consideration within the country by a taxable person acting as such at a normal rate 24%, whereas in some cases reduced rates of 13% and 6% may apply.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Does your jurisdiction provide advantageous special tax regimes for individuals from a wealth tax, inheritance\/estate tax or gift tax perspective?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Certain reductions or exemptions from the Real Estate Property Tax (\u201cENFIA\u201d) may be provided to taxpayers based on their financial situation or the value of the property.<\/p>\n<p>Moreover, exemptions from the Real Estate Transfer Tax are provided to (a) farmers for the acquisition of agricultural land and (b) individuals for the purchase of residence, under conditions.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What steps might an individual be advised to consider before establishing residence in (or becoming otherwise connected for tax purposes with) the jurisdiction?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Taking into consideration that, upon establishing tax residence in Greece, an individual becomes subject to Greek income tax on his worldwide income, he should consider the tax consequences in terms of income, inheritance and gift tax in order to secure that the tax treatment in Greece is more favorable to him.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Once an individual has left (and is no longer connected for tax purposes with) the jurisdiction, does the jurisdiction charge any form of exit tax or retain taxing rights over the individual's directly held assets or structures which they created or have an interest in?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Exit taxation provisions do not apply on individuals.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the main rules of succession, and what are the scope and effect of any rules of forced heirship? Do any forced heirship rules apply automatically, or is it necessary for heirs to bring claims to enforce their rights?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The Greek Civil Code provides for two main grounds of succession: succession by will and succession by operation of law (the latter being further divided into intestate succession and forced heirship). Succession by will requires the existence of a valid will, whereas intestate succession applies in the absence of such a will. Under intestate succession rules, certain relatives of the deceased become heirs by order of proximity. On the other hand, forced heirship comes into force in case of omission, total or partial, of a forced heir. It operates irrespective of the testator\u2019s intent, to protect the interests of those who maintain a close family relationship with the deceased (\u201cforced heirs\u201d). These grounds of succession are not mutually exclusive, but may apply simultaneously.<\/p>\n<p>Greek law recognizes testamentary freedom, which is, however, subject to forced heirship rules.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Is there a special regime for matrimonial property or the property of a civil partnership, and how does that regime affect succession?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Greek legislation adopts the system of separation of property with participation in acquisitions. Under this matrimonial regime, each spouse retains exclusive ownership of their assets, acquired both before and during the marriage. However, upon dissolution of the marriage, each spouse is entitled to participate in the \u201cacquisitions\u201d (i.e. the augmentation of property) of their spouse which has occurred during the marriage, if they had contributed to said augmentation. However, such a claim cannot arise in favor of the heirs of the deceased spouse.<\/p>\n<p>Alternatively, spouses may opt for the matrimonial regime of contractual community of property. Under this system, the spouses establish a community of property, without the right for each spouse to dispose of their share in the property.<\/p>\n<p>According to the provisions of L.4356\/2015, civil partnerships are subject to the same matrimonial property regime as marriage, although partners \u2013 unlike spouses \u2013 are entitled to waive a priori of their rights to forced heirship.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What factors cause the succession law of the jurisdiction to apply on the death of an individual?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The deceased person\u2019s habitual residence at the time of death and the nationality of the deceased are factors that cause the Greek succession law to apply on the death of an individual.<\/p>\n<p>According to Regulation (EU) No 650\/2012 (Succession Regulation), the Greek law shall apply to the whole estate of the deceased who had their habitual residence in Greece at the time of their death, unless the circumstances show that they had more close connections with another State, so that the law of this State should apply. A Greek resident can also choose the law of their nationality (at the time of choice or death) to govern their succession.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How does the jurisdiction deal with conflict between its succession laws and those of another jurisdiction with which the deceased was connected or in which the deceased owned property?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>The conflict between Greek succession laws and those of another jurisdiction are dealt by the provisions of the Succession Regulation and, where said regulation is not applicable, by the conflict rules of the Greek Civil Code.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">In what circumstances should an individual make a Will, what are the consequences of dying without having made a Will, and what are the formal requirements for making a Will?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Greek law recognizes testamentary freedom, which is, however, subject to forced heirship rules. A will should be drawn up in any circumstances where an individual wishes to deviate from the rules of intestate succession. Through a will an individual may specify a particular manner of asset distribution among their heirs, to avoid undivided inheritance. They can also create a legacy, impose conditions or special clauses, even disinherit an heir under the strict provisions of the law. A will can prove to be extremely useful in family law planning, as the testator may indicate who shall act as the guardian of their minor child, and even acknowledge a child as their own.<\/p>\n<p>The provisions in relation to wills are strict and must be fully satisfied for a will to be valid. Greek Law recognizes three types of wills:<\/p>\n<p>(i) the holographic will.<br \/>\n(ii) the public will.<br \/>\n(iii) the secret will.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How is the estate of a deceased individual administered and who is responsible for collecting in assets, paying debts, and distributing to beneficiaries?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>All heirs can take possession of the estate immediately upon death. The testator can also appoint one or more executors in the will, whose task is to carry out the provisions of the will, by undertaking any act the testator has expressly permitted or which is necessary for the execution of the provisions of the will.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Do the laws of your jurisdiction allow individuals to create trusts, private foundations, family companies, family partnerships or similar structures to hold, administer and regulate succession to private family wealth and, if so, which structures are most commonly or advantageously used?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Trusts cannot be created under Greek Law.<\/p>\n<p>Greece has recently established the institution of \u201cfamily offices\u201d, which are special purpose companies for the administration and management of family wealth.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How are these structures constituted and what are the main rules that govern them?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Family offices can be set up in Greece through legal corporate structures, i.e. either as capital companies (Soci\u00e9t\u00e9 Anonyme, Limited Liability Companies) or as partnerships, under the provisions of the relevant legal framework applied to each form.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What are the registration requirements for these structures and what information needs to be made available to the relevant authorities? To what extent is that information publicly available?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Each family office must be registered in the Greek General Commercial Registry (so called \u201cGEMI\u201d), where all the documents and information on the directors, registered office and shareholders of Greek companies are publicly available.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How are such structures and their settlors, founders, trustees, directors and beneficiaries treated for tax purposes?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Family offices are subject to income tax in accordance with the general provisions of the Greek Income Tax Code, which also apply on the matters of the submission of the relevant tax return, the payment of the income tax and the withholding tax obligations for the payments made by the family offices.<\/p>\n<p>Given that no special exemption is provided by the law, the dividends distributed from the family office to its shareholders are subject to withholding tax.<\/p>\n<p>Finally, no VAT is imposed on the transactions carried out internally between the family office and the persons that participate in it.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are foreign trusts, private foundations, etc recognised?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>As stated above (Question 22), Greek law does not include provisions for the creation of trusts. However, foreign trusts, private foundations and similar entities are recognized in Greece for tax purposes.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">How are such foreign structures and their settlors, founders, trustees, directors and beneficiaries treated for tax purposes?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>According to the provisions of the Greek Income Tax Code, these foreign structures are considered as legal entities. As such, they are subject to income tax as well as withholding tax on the income arising out of the distribution of dividends, interest and royalties in Greece, without prejudice to the double taxation avoidance provisions of a DTT that might be effective.<\/p>\n<p>The founders and beneficiaries are subject to income tax for the income arising from the distribution of profits (dividends) made by the entities, if they have contributed to them with their own capital. If the distribution is made to persons other than those who have contributed to the capital of the entities, an inheritance or gift tax shall be imposed.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">To what extent can trusts, private foundations, etc be used to shelter assets from the creditors of a settlor or beneficiary of the structure?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Given that trusts and similar foundations are not institutions legally recognized in Greece, there are no certain provisions allowing for the sheltering of assets within such structures. However, under the Greek Civil Code, creditors have the right to file an appeal for fraudulent conveyance in order to challenge any transfer or disposition of assets made with the intent to infringe their rights.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What provision can be made to hold and manage assets for minor children and grandchildren?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Assets belonging to minors (children under 18 years of age) are administered by their parents as part of their parental responsibility. The minor\u2019s guardian, when appointed, assumes the same responsibilities as the parents in relation to the minor\u2019s assets.<\/p>\n<p>The most significant acts of administration concerning a minor\u2019s property may only be undertaken with the prior authorization of the Court.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">Are individuals advised to create documents or take other steps in view of their possible mental incapacity and, if so, what are the main features of the advisable arrangements?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>In Greece, an individual cannot be placed under guardianship by a unilateral act nor automatically by law. Instead, a Court must appoint a guardian, accompanied by a supervisory council. Only parties expressly authorized by law\u2014including the individual concerned\u2014may petition the Court to initiate such proceedings.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What forms of charitable trust, charitable company, or philanthropic foundation are commonly established by individuals, and how is this done?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>In Greece, charitable activities are carried out mostly through foundations or associations established as non-profit legal entities.<\/p>\n<p>A foundation is established by a deed which specifies its purpose, governing structure and the assets dedicated to the purpose and is then subject to approval by a decree.<\/p>\n<p>An association of at least 20 persons pursuing a non-profit purpose can acquire legal personality upon registration in a special public registry of associations maintained at the Court of First Instance of its registered office. For the registration of the association, an application is submitted by the founders or management of the association before the Court of First Instance. The application must be accompanied by the deed of establishment, the names of the management members and the constitution, signed and dated by the members.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What is the jurisdiction's approach to information sharing with other jurisdictions?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Greece has developed information sharing systems based on both bilateral treaties, such as the DTTs, Tax Information Exchange Agreements (TIEAs) and the FATCA Agreement, and multilateral agreements, such as the CRS Multilateral Agreement on Automatic Exchange of Financial Account Information. Greece has also implemented the EU Council Directive on Administrative Cooperation (DAC).<\/p>\n<p>By the end of 2025 it was announced that Greece expects to accede to the \u201cMultilateral Competent Authority Agreement on Automatic Exchange of Readily Available Information on Immovable Property (IPI MCAA)\u201d by 2030.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\t\t\t\t\t<li class=\"question-block filter-container__element\">\r\n\t\t\t\t\t\t<h3 class=\"filter-container__match-html\">What important legislative changes do you anticipate so far as they affect your advice to private clients?<\/h3>\r\n\t\t\t\t\t\t<button id=\"show-me\">+<\/button>\r\n\t\t\t\t\t\t<div class=\"question_answer filter-container__match-html\" style=\"display:none;\"><p>Significant reforms to Greek succession law are expected in the first quarter of 2026. The anticipated changes include the legalization of inheritance contracts and the separation of inherited assets from the heir\u2019s personal estate, ensuring that estate debts are satisfied exclusively from the inheritance. Additionally, the rules of intestacy will be modernized to reflect contemporary family structures and social realities.<\/p>\n<\/div>\r\n\r\n\r\n\t\t\t\t\t<\/li>\r\n\r\n\t\t\t\t\r\n<div class=\"word-count-hidden\" style=\"display:none;\">Estimated word count: <span class=\"word-count\">4141<\/span><\/div>\r\n\r\n\t\t\t<\/ol>\r\n\r\n<script type=\"text\/javascript\" src=\"\/wp-content\/themes\/twentyseventeen\/src\/jquery\/components\/filter-guides.js\" async><\/script><\/div>"}},"_links":{"self":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide\/125706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/comparative_guide"}],"about":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/types\/comparative_guide"}],"wp:attachment":[{"href":"https:\/\/my.legal500.com\/guides\/wp-json\/wp\/v2\/media?parent=125706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}