Millionaires choose Greece

The Greek spot marketplace has recorded important superior inflows from abroad, arsenic the state becomes a destination of prime for so-called High Net Worth Individuals.

In caller years, galore such individuals person decided to permission the UK and precocious the US to relocate to European countries such arsenic Greece, Portugal, Malta, Spain and Italy, while the United Arab Emirates person besides benefitted.

Greece has already attracted important capital, partially directed to the existent property market. Based connected a survey by New World Wealth, successful 2022-2024 some 1,200 millionaires settled successful Greece from various countries, rendering it the eighth astir fashionable destination.

According to Alena Lesina, a specialist successful existent property investments, residence permits and citizenship astatine British concern migration institution Astons, “Greece is simply a peculiarly charismatic destination for very wealthy citizens who determine to permission Britain and the US, a trend that has soared successful the past 12 months.” According to Astons’ analysis, Greece has a important scope of inducement programs for this class of people, from the Golden Visa programme to the incentives provided to non-doms and pensioners.

The fig of non-dom UK citizens decreased by 37% successful the decennary 2013-2023, while from 2024 onwards, when the British authorities announced the tightening of the terms of the non-dom program, this trend has accelerated significantly. Accordingly, the re-election of President Trump successful the US seems to person played a cardinal relation successful the summation successful the fig of American millionaires relocating to Europe oregon the Middle East.

Greece is among the beneficiaries, having the applicable “arsenal” of incentives and programs, connected top of its earthy beauty, mild climate, manner and affordable luxury existent estate. Based connected Finance Ministry data, astatine slightest 213 investors person taken vantage of the incentives of the non-dom programme to transfer their tax residence to Greece, including millionaires and billionaires who near Britain, while others person travel from Australia, the US, Argentina, the UAE, Russia and adjacent Monaco.