Greece Golden Visa Sees Interest Surge after Tax Reduction

Investors seeking investment opportunities which can be obtained by the Greek residency are in for a pleasant surprise, as the newly elected Greek Government has announced many tax reforms and incentives, within these reforms is an immediate 22% reduction in property tax within the Hellenic Republic of Greece.

This massive reduction means that the Greece Golden Visa has become much more financially and economically viable for many who wish to obtain a European Residency.

The reduction in property taxes comes as part of other reforms such as the following:

  • Reduction of Business tax rate to 20% from 28% over two years.
  • Cut the dividends tax rate from 10% to 5%
  • Simplify and accelerate licensing procedures; accelerate judicial review of investment projects in cases of dispute.
  • A three-year tax holiday on real estate capital gains and on VAT for construction-related activity.
  • Tax reduction of 40-50% for renovation and investment in property over the next three years.
  • Cut social security contributions to a 15% rate from 20% over the next four years.
  • Reduce middle and top VAT rates to 22% and 11%, from 24% and 13% currently.

The Government aims to introduce further tax reductions in the future.

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