5 Reasons Why You Should Retire to Greece

Greece is swiftly emerging as a top destination for retirees in search of a welcoming atmosphere and serene lifestyle. With its affordability, advantageous tax policies, and superb quality of life, Greece stands out as an ideal setting for those wishing to embrace their retirement years to the fullest.

Below are five compelling reasons why retirees should consider relocating to Greece to embark on their next chapter.

1. Idyllic Climate

Greece boasts approximately 300 days of sunshine annually, complemented by moderate rainfall. In Athens, for instance, temperatures range from a winter low of 2°C (36°F) to a summer high of 37°C (99°F). With mild winters and frequent sun, the Mediterranean climate allows for an active lifestyle all year-round, and an occasion to partake in various outdoor activities, such as swimming, hiking, sailing, and outdoor dining.

2. Affordable Living Costs

Compared to many Western countries in the northern hemisphere, Greece is considered to be relatively affordable. As highlighted in our previous article on living expenses, retirees can comfortably manage on a monthly budget of €1,600, depending on location and personal needs. Affordable housing, groceries, and healthcare allow retirees to enjoy a comfortable lifestyle without financial stress.

3. Tax Advantages

Greece's tax incentives are particularly enticing for foreign pensioners. Under the new legislation effective since July 31, 2020, retirees pay a flat rate of 7% tax on foreign-sourced income annually.

To meet the eligibility requirements for this tax regime, pensioners must, cumulatively:

• not have been Greek tax residents for the previous five of the six years prior to the transfer of their tax residence to Greece; and
• transfer their tax residence from a state with which an agreement on administrative cooperation in the field of taxation with Greece is in force.

This regime, provided certain residency criteria are met, makes Greece an appealing choice for retirees and investors alike, especially with additional advantages such as a 0% capital gains tax and a 5% dividend tax on investments.

4. Superb Quality of Life

Greece offers a superior quality of life characterized by a relaxed pace, strong community ties, and a focus on family and social connections. Its breathtaking landscapes and picturesque islands provide ample opportunities for outdoor activities, contributing significantly to overall well-being and happiness.

5. Comprehensive Healthcare Services

Greece has a robust healthcare system that provides both public and private healthcare services, ensuring that retirees have access to comprehensive medical care. Key benefits include:

• Premium Elderly Care: High-quality private hospitals and clinics equipped with advanced facilities and English-speaking staff cater to retirees seeking specialized medical attention.

• Affordable Medical Services: Compared to the United States, healthcare costs in Greece, including consultations, treatments, and medications, are generally more affordable.

• Access to Specialized Treatments: Greece hosts numerous specialists across various medical fields, ensuring retirees receive top-notch care, particularly in major cities like Athens and Thessaloniki.

• Prescription Medications: Pharmacies are widely accessible, offering competitively priced prescription drugs and expert advice.

Conclusion

Retiring in Greece presents compelling advantages that enhance overall well-being and happiness. Whether for its agreeable climate, excellent healthcare options, or favorable tax incentives, Greece proves to be an attractive destination for retirees and investors alike.

Are you ready to make Greece your retirement destination? Click this link to schedule your complimentary 30-minute consultation call.