Answers to questions from foreign investors in Greece

_{1. A non-resident tax resident buys real estate or movable property in Greece. Is it required to submit a tax return in Greece?}

He is not required to submit an income tax return in Greece if he does not obtain real income from sources within the country. Similarly, a non-resident tax resident who obtains income exclusively from interest on government bonds and Greek Treasury bills, as well as from interest on corporate bonds referred to in paragraph 5 of article 37 is not obliged to submit a declaration (see paragraph 1 of article 67 of Law 4172/2013).

_{2. A non-resident tax resident buys property in Greece, rents it and collects rents. Is it required to submit a tax return in Greece?}

Yes, he is required to declare the income from renting a property and pay the corresponding rental income tax.

Furthermore, the presumptions of acquisition of assets under Article 32 of the Income Tax Code are activated.

_{3. A non-resident tax resident buys an asset in Greece, opens a bank account with a Greek Credit Institution and receives credit interest on savings. Is it required to submit a tax return in Greece?}

Yes, he is required to declare interest income.

Furthermore, the presumptions of acquisition of assets under Article 32 of the Income Tax Code are activated.

4. A foreign tax resident who owns a property in Greece earned profits from shares listed on the Greek Stock Exchange.  Should they be declared in his tax return? Moreover, by submitting the tax declaration, are the living presumptions for the property activated?

Earned profits from shares listed on GSE Is described as income which should be declared in his tax return. Moreover, according to Article 33 of Law 4172/2013 foreign tax residents are not subject to presumptions when they receive income in Greece. In contrast, the objective costs of acquiring assets in Greece when it receives income in Greece are applied to foreign tax residents.

Author, Christine J. Kapela