Tsaks Consulting Greece

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Our UK to Greece tax residency and wealth relocation service

Our specialist legal and tax advisory service for UK High-Net-Worth Individuals, Fund Managers and Family Offices

Greece has recently emerged as a viable and reliable option for UK based executives and NHW individuals assessing alternate European and global jurisdictions. Greece is not only one of the most tax effective European Destinations, it is also highly secure and has a stable government. Our cross border team of advisors here at Tsaks Consulting help clients efficiently gain tax residency in Greece as well  as assess the benefits of both Greece and Cyprus.

There are significant foreign-investment incentives in place in Greece that are attractive to UK based investors. These primarily relate to foreign source income, capital gains and investment income and our team of advisors and partners help clients navigate the application process. Our team has strong experience in helping clients assess the benefits of and navigate the application for Article 5A (HNWI).

Our advisory service: Article 5A: The Flat-Tax HNWI Regime

Key features and advantages of the Article 5A regime include:

  • Flat €100,000 Annual Tax: Replaces all Greek income tax on foreign-sourced income, regardless of total earnings or capital gains realized abroad.

  • Family protection: The regime can be extended to to family members (spouse, children, parents) for an additional €20,000 per relative annually.

  • Exemption from gift & inheritance tax: ensures all foreign-held assets are fully exempt from Greek inheritance and gift taxes.

  • 15-Year certainty and stability: The regime is guaranteed application for up to 15 fiscal years.

  • Relatively low qualifying threshold: Requires a minimum €500,000 investment into Greek real estate, corporate entities, or financial securities within three years.

Thought leadership from our Tsaks Consulting advisory team  on this regime for UK HNWI individuals

When assessing the suitability of Article 5A, HNWI individuals have a range of factors to consider  beyond the tax benefits and potential compliance. We generally recommend our clients consider:

  • The benefits of the regime from an international tax perspective compared to other global options such as Dubai, Cyprus and Singapore. Most of our UK clients consider Dubai, Cyprus and sometimes Malta due to their proximity to the UK, in addition to Greece. Greece has significant tax advantages and there is a Double Tax Treaty in place with the UK. A detailed comparison needs to be conducted to understand the financial implications of moving your tax residency to Greece, in comparison to Dubai and the other states.
  • Greek lifestyle and family options (schools etc). Depending on your stage of life and situation, it’s also important to consider ‘where’ you want to live. From Athens, to Thessaloniki and some of the islands such as Crete, Greece has some beautiful places to live and work, however, when you drill down to it, it areas outside Athens finding enough international school options can be a challenge as can general lifestyle that is of a similar standard to the UK. We help clients understand the realities of living in Greece compared to other countries such as Dubai, and understand what life will be like three, five and ten years in the future. We use our understanding of the country, as well as experience in dealing with clients in similar situations, to provide a wholistic top down view of the potential lifestyle as well as tax advantages.
  • Greece’s services for running their business. In addition to making an investment, many clients need to operate from Greece. This can include hiring local staff and other services. We will guide you on potential labour resources and the benefits and challenges on operating in Greece.

We also provide insight into investment options and some of the procedural challenges of purchasing property in Greece. There are significant alternative investment pathways such as mutual funds which should also be considered due to their efficiency and easy of investment.

Our multidisciplinary team across both London and Athens here at Tsaks Consulting advisory provides a range of services to family offices, fund managers and HNWIs including:

  • UK-Greece Double Tax Treaty (DTT) Structuring: Navigating statutory residence tests in the UK while establishing tax residency in Greece.

  • Article 5A: Full management with our accounting partners of applications with the Independent Authority for Public Revenue (IAPR / AADE).

  • Qualified investment placement: including providing advisory and legal verification, through our team and our partners, for qualifying €500,000+ real estate acquisitions, corporate equity, or bond allocations to satisfy Article 5A rules.

  • Golden Visa & Residency authorization: For UK passport holders and non-EU passport holders.

  • Estate & asset protection: Establishing trusts, holding companies, and international family office structures aligned with Greek legal codes. We also have a close working relationship with a firm in Cyprus and can advise on the benefits of opening a trust in Cyprus.

  • Corporate relocation & subsidiary setup: Legal setup, local director representation, and payroll compliance for UK firms establishing operations in Greece.

Why work with our team at Tsaks Consulting?

  • We understand the UK and provide a responsive, tailored service similar to professional services firms in the UK.
  • We know and understand both the UK and Greece. We take a global perspective to any advice we provide you.
  • We provide advice based on finances as well as life. Tax optismisation is normally only part of our advise. Most of our clients also consider lifestyle and the impact on their families and life in general. We provide honest feedback on what life is like in Greece.
  • We engage specialists where required. We work closely with legal and tax specialists to provide you advice, particularly where it is outside our scope of expertise.
  • We have close relationships with Greek banks and leverage on these to help you get things done more efficiently.
  • We provide honest, realistic advice and always advise in your best interests.

Contact our team of experts today to talk about how we assist executives from the UK to move to Greece. Our Director is available round the clock to help clients as required.