Greece is establishing itself as one of Europe’s emerging destinations for high-net-worth individuals seeking a more favorable tax base. The special non-dom regime, introduced in 2020 to attract high-value capital and investment, is now moving from theory to practice, as an increasing number of multi-millionaires choose to relocate their tax residency to the country — combining their move with the purchase of luxury properties.
Read also: Why foreigners are investing in Athens’ residential market — still cheaper than the rest of Europe
Non-dom: individuals who transfer their tax residency to Greece
Non-dom taxpayers (non-domiciled taxpayers) are individuals who transfer their tax residency to Greece without being taxed in the conventional way on income earned abroad. Instead of standard taxation, they pay a flat annual tax of up to €100,000 on all their foreign-sourced income, regardless of the total amount. To qualify for the scheme, applicants must make an investment of at least €500,000 within three years of submitting their tax residency transfer application. The investment can take the form of real estate purchases, business stakes, shares, bonds, or other productive assets, and the tax regime can be maintained for up to 15 years.
Greece is attracting an increasing number of ultra-high-net-worth investors
While the program’s uptake was modest in its early years, the picture has changed significantly since 2024. According to the annual report by Greece Sotheby’s International Realty, Greece is now attracting a growing number of ultra-high-net-worth investors who are choosing to establish their tax residency in the country while simultaneously acquiring homes in top-tier destinations such as the Athens Riviera, Mykonos, Paros, Corfu, and other prime locations within the Greek luxury property market.
The program’s impact is now clearly reflected in transaction data. In 2024, non-dom investors accounted for 17% of the total value of luxury residential purchases and 14% of the total number of transactions. Within just one year, their presence grew even further. By 2025, they represented 21% of total transaction value and 29% of the volume of luxury home purchases — a clear indication that they have become one of the most significant buyer groups in this segment. This momentum continued into the first half of 2026, when non-dom buyers accounted for 14% of the number of transactions and 10% of total investment value.
The report highlights that this category of buyer typically invests at values well above the market average. These are primarily multi-millionaires and billionaires seeking ultra-premium residences and willing to commit substantial sums to acquire them. The fact that non-dom buyers account for such a large share of transaction value underscores their economic footprint in the Greek luxury property market, with their investments centered on villas, seafront residences, and properties within landmark residential developments.
Most investors come from the United Kingdom
Equally noteworthy is the geographic profile of these investors. More than half — 53% — originate from the United Kingdom, followed by the United States at 12%. Switzerland, Turkey, Denmark, Italy, and Germany each account for 6%, alongside Greeks who are choosing to repatriate their tax residency back to their home country.
The strong British presence is no coincidence. In April 2025, the United Kingdom abolished its longstanding non-dom tax regime, prompting many wealthy residents to seek out alternative countries offering comparable tax incentives. Greece has emerged as one of the primary beneficiaries of this shift. Notably, according to Greece Sotheby’s International Realty, demand from British buyers surged by 60% in the first half of 2026 compared to the same period the previous year.
Non-dom investors are not displacing other buyer segments in the Greek market
As the report emphasizes, the most significant takeaway is that non-dom investors are not drawing demand away from other buyer categories in the Greek market — they are bringing in fresh capital that would otherwise have been directed to other countries. Sotheby’s describes this influx as “new wealth of an institutional character,” referring to funds that would not have been invested in Greece without the existence of this specific tax framework.
At the same time, the Greek program is gaining increasing recognition within international wealth management networks — including wealth advisors and family offices — which are now routinely recommending it to clients seeking a new tax base. This development raises expectations that the influx of affluent investors will continue in the years ahead, further strengthening both the luxury residential market and foreign investment in the Greek economy.
Published in Money Pro by Parapolitika
