A recent report titled "2020 Greece Attractiveness Survey" shows that global investor interest in Greece remains strong. Notably, 62% of investors approve of the attractive investment policies implemented by Greece, believing that the Greek government's effective management of the COVID-19 pandemic has helped improve the country's international image; 28% of companies expressed plans to invest in Greece next year. In short, whether compared to previous years or other European countries, Greece's appeal holds a significant advantage.
The report also points out that Greece has taken decisive action in epidemic prevention, providing investors with a great sense of security. Both the speed of the response and the efficiency of the economic stimulus plans have left a deep impression on investors. To attract more investors, the Greek government has introduced several favorable policies this year, including various tax cuts and economic stimulus measures.
Recently, the Greek government proposed a new policy to formally invite foreign pensioners to transfer their tax residency to Greece. Under this proposal, once European pension holders become tax residents of Greece, all income will be taxed at a rate of 7%, significantly lower than the previous 28%–44%. Alex Patelis, Chief Economic Advisor to Greek Prime Minister Kyriakos Mitsotakis, revealed that this policy applies to all forms of income, including pensions, capital gains, and rental income.
At the same time, the Greek Ministry of Finance plans to gradually reduce value-added tax (VAT) starting in 2021 to promote consumption. According to reports, the Ministry of Finance plans to reduce the top VAT bracket from 24% to 20% and the middle bracket from 13% to 10% by mid-2023. Meanwhile, the VAT for services related to the tourism and catering industries will be set at 10%, which will make Greece more competitive among global tourist destinations.
Additionally, according to the Greek newspaper Kathimerini, on July 15 local time, the Greek government approved eight strategic investment projects worth 1.1 billion euros, including the construction of marinas, 5-star hotels, and resorts. These investment projects are expected to create 3,300 jobs in Greece. Meanwhile, to promote the recovery of the tourism industry, Greek Tourism Minister Harry Theoharis recently announced that the Greek government has increased the budget for the 2020-2021 "Tourism for All" program from 30 million euros to 100 million euros.
With the pandemic easing, the Greek economy is improving, and the real estate market remains increasingly hot. The rebound in tourism, growth in consumption, and reduced tax burdens are all positive news for investors! In the current climate, balancing overseas asset allocation with obtaining a new status is an opportunity that should not be missed—act now!
In 2020, the Greek government introduced several preferential policies for investment immigration, such as simplifying the application process, shortening waiting times, and extending the validity of residence permits, which has boosted investor confidence in pursuing Greek immigration. If you have needs regarding health planning, education, retirement, or asset allocation, you must take action early. Now is the best time to invest in Greece! After purchasing a property, investors can rent it out, sell it, and enjoy a series of benefits brought by their new status—it is truly a multi-purpose investment. August is a promotional period for Greek property investment immigration; opportunities are rare, and a special gift package is available with property purchases.
2020 is the Year of Health Planning. Prioritize health and status by choosing to invest in Greece. For details, please contact: Mainland China: 400-138-2929; Hong Kong, China: (852) 2802 8798.
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