According to the Income Tax Code, as amended by Law 4646/2019, “High Net Worth Individuals” (HNWI) are provided with significant incentives for the transfer of tax The alternative tax regime (non-dom) dictates that the investor will pay a fixed tax of one hundred thousand (100,000) euros / per tax year, regardless of the total income earned abroad {Italian model that provides a stable payment of an annual tax of 100,000 euros, for the global income of the taxpayer}. This favorable scheme can be applied for a maximum period of 15 financial years. HNWI who choose to transfer their tax residence in Greece will enjoy the privileges of this special tax treatment, provided that the following conditions are met:

• The taxpayer was not a tax resident of Greece for the last seven of the eight years prior to the transfer of his tax residence to Greece and
The taxpayer must prove that either he or a relative has invested at least five hundred thousand (500,000) euros in real estate or in a business or in securities or shares of legal entities based in Greece. This investment can be made through a legal entity in which the taxpayer holds a majority stake.

• In addition, the taxpayer has the right to request the extension of this status to a relative and in this case will pay an additional tax of € 20,000 / per relative. In these cases, the provisions regarding donations, inheritances and parental benefits do not apply.

• With the payment of this fixed tax, the taxpayer has no other tax liability for the income he earns abroad and is also exempt from inheritance or donation tax for real estate located abroad.