The already successful Greek non-dom regime becomes even more attractive with the introduction of new favorable provisions as regards exemptions from gift and inheritance tax.
In particular, individuals falling within the Greek non-dom regime are exempt from inheritance or gift tax on movable property located abroad which they inherit or receive by way of gift. Likewise, movable property located abroad and belonging to a Greek non-dom, which is transferred either mortis cause of by way of gift, is exempt from inheritance or gift tax in Greece.
The new provisions are of particular importance as they now provide clarity on the fact that both the gift or inheritance of movable assets that are located abroad are not subject to tax in Greece, either if received or made by the individual applying the non-dom regime. This makes the Greek non-dom regime even more competitive vis a vis similar regimes applied by other countries, such as for example Italy.
Another important addition to the Greek non-dom regime is that it is now possible for spouses/children to be included in the said regime, either upon initial application, or at a later date for the remaining years of the 15-year non-dom tax regime.
This obviously provides an additional level of flexibility to taxpayers interested in relocating to Greece under the non-dom regime.
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