The landscape has shifted.
For decades, the UK has been home to a thriving community of High-Net-Worth and Ultra-High-Net-Worth Individuals, many of them non-domiciled residents enjoying favourable tax treatment. But the most recent UK tax reforms - from changes to the non-dom regime to increasing compliance and reporting requirements - have triggered a quiet but decisive migration.
And while traditional relocation choices like Monaco, Dubai, and Switzerland remain popular, a new player has emerged on the relocation map: Greece.
Far from being just a holiday paradise, Greece has quietly reinvented itself as a strategic, tax-efficient, and lifestyle-rich base for globally mobile wealth.
1. The UK Push Factor: Why HNWIs Are Leaving
The latest UK reforms have:
• Reduced or removed certain non-dom advantages.
• Tightened rules on remittance basis and foreign income.
• Increased global transparency and enforcement.
For many, the message is clear: the UK is no longer the predictable, low-friction wealth base it once was.
That means the next jurisdiction needs to offer not just low taxation, but stability, clarity, and a globally connected lifestyle.
2. The Greece Pull Factor: Tailored Tax Regimes
Greece’s government has designed bespoke tax regimes to attract foreign capital and expertise:
• Non-Dom Flat Tax Regime: Pay a flat €100,000 per year on all foreign-sourced income, regardless of amount. Heirs can opt in for just €20,000 annually. Duration: 15 years.
• 7% Pensioner/Passive Income Regime: For foreign retirees with passive income streams.
• 50% Income Tax Reduction: For professionals relocating to work in Greece for up to 7 years.
This is not just competitive with other EU jurisdictions, it’s deliberately structured to appeal to former UK non-doms looking for certainty and control.
3. EU Residency & Mobility. A Key Brexit Advantage
Unlike Monaco or Dubai, relocating to Greece grants you EU residency and Schengen freedom of movement.
For globally mobile entrepreneurs, investors, and families, this means:
• Visa-free travel within the EU/Schengen zone.
• The ability to establish companies and hold assets anywhere in the EU without additional residency barriers.
• Easier educational and professional opportunities for family members.
4. Real Estate: Value & Upside
Post-Brexit UK investors have often found EU real estate markets challenging to access.
Greece’s Golden Visa program solves that offering residency for property purchases starting from €250,000 (higher thresholds in some prime areas).
Beyond the visa benefit, Greece’s luxury property market is still undervalued compared to other Mediterranean hotspots. The Athens Riviera, Mykonos, Paros, Corfu, and Crete offer:
• Trophy homes at a fraction of Monaco or Côte d’Azur prices.
• Strong rental yields in the ultra-luxury seasonal market.
• Long-term capital growth potential as Greece continues its economic resurgence.
5. Lifestyle Without Compromise
Leaving London doesn’t mean leaving sophistication. Greece offers:
• International schools and multilingual education.
• Private healthcare facilities with international standards.
• A vibrant cultural scene, from Athens’ art galleries to summer festivals across the islands.
• Connectivity: Direct flights to London, the Middle East, and major EU hubs year-round.
And then there’s the obvious: turquoise waters, world-class sailing, and a culinary tradition envied worldwide.
6. Privacy & Discretion
While London’s wealth scene has increasingly found itself under the glare of political and public scrutiny, Greece’s HNWI community is more discreet with privacy-friendly island retreats and an understated luxury culture.
7. Strategic, Not Just Sunny
This is the crucial point:
Relocating to Greece is not about escaping the UK, it’s about positioning yourself in a jurisdiction that combines fiscal efficiency, EU access, lifestyle, and investment opportunity.
For HNWIs and UHNWIs leaving the UK, Greece offers a complete solution:
• A long-term tax framework you can plan around.
• The freedom and mobility of EU residency.
• A thriving luxury market with room to grow.
• A lifestyle that blends the cosmopolitan with the serene.
Bottom line:
The UK’s latest reforms have closed one chapter for many wealthy residents. Greece offers a compelling next one not just for tax reasons, but for the unique combination of strategic, financial, and personal benefits it brings.
The choice isn’t about where you leave. It’s about where you arrive. And for many, that arrival is now in Athens, Mykonos, or along the sun-drenched Athens Riviera.
To explore how Greece’s new tax regimes may align with your global plans, contact Calista Real Estate (Athens) at welcome@calista.realestate
