Tax on income only if it is produced within Greece.
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As a Golden Visa participant, will Greece tax me on all my worldwide income?
My family and I have settled in Greece, but I still travel to my native country for business. It is where I earn the majority of income. Will the Greek government tax me on that money? Is there an option around this?
Answers
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You won't pay tax in Greece for your worldwide income, as Greece is not your tax residence country. In Greece, you will pay only the property tax every year and if you receive rents from the property in Greece - then you ll pay also rental tax.
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If you are declared as a non-Greek Tax resident, you will be taxed in Greece only your income from the property, if there is any. This means that you should be registered at the Tax Authority of Foreigners. If you are declared as a Greek tax resident, then your global income should be taxed in Greece according to the double tax treaties among both countries.
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Well, if you declare your income to the tax authorities of your native country, you will not have a problem. Both countries have signed a bilateral agreement of non allowing double taxation.
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Foreign tax residents are taxed in Greece only for the income derived from a source located in Greece and not for the worldwide income. According to the Greek income tax code, an individual is considered a tax resident of Greece and not a foreign tax resident, provided that they: a) have their permanent or principal place of residence or habitual residence or center of their vital interests, namely their personal or economic or social ties in Greece, b) have a physical presence in Greece for a period of more than 183 days in any twelve-month period, uninterruptedly or with breaks In cases where an individual is considered a tax resident of Greece, then they are taxed for their worldwide income. Provided that you fulfill the above requirements of the above provision of the Greek income tax code, your worldwide income will be taxed in Greece.
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According to the Greek income tax provisions in force, the foreign tax residents are taxed in Greece only for the income generated in Greece and not for the worldwide income. Furthermore, an individual is considered as a Greek tax resident if the below prerequisites are fulfilled: a) has his permanent or principal place of residence or habitual residence or center of his vital interests, more specifically his personal or economic interests in Greece, b) has a physical presence in Greece for a period of more than 183 days in any twelve-month period, uninterruptedly or with breaks If the above conditions are fulfilled in your case, you will be considered as a Greek tax resident, then you will be subject to taxation for your worldwide income in Greece.
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Please be aware that Greece will tax you mainly for your income in Greece i.e. for your business here, or if you rent a property you own to a third party. Only if you stay in Greece more that 183 days per year, you are considered tax resident in Greece and you will be taxed here for your global income.
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As a Golden Visa holder, you are not obliged to live permanently in Greece, therefore you will only be taxed in Greece for any income that you will produce in the country and not for your worldwide income. Only if you choose to reside permanently in the country (that is for more than 183 days a year), then you will become a tax resident of Greece and you will be taxed for your worldwide income in Greece.
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