Taxation of foreign trusts in Greece/Tax incentives for the transfer of residence of individuals to Greece

Abstract The present overview provides a summary of the Greek tax regime applicable to foreign trusts. Up until 2017, the taxation of foreign trusts was largely left unregulated in the Greek tax system, which can be attributed to the fact that trusts, being a common-law concept, are not recognized by Greek legislation. Despite the uncertainties, foreign trusts were often used as structures for wealth management or estate planning. The guidelines provided in 2017 were thus eagerly awaited to provide clarity on a matter that was left unregulated for decades and can therefore only be considered as a very positive development. Nevertheless, certain aspects raise concern. This overview also summarizes the Greek Tax Incentive Regimes, which have been met with great demand from foreign residents seeking to transfer their (tax) residence to Greece.