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I agree with you about food and quality of life. Not so sure about the tax rates. Are you sure that 22% is all you pay? I'd be very surprised if this is with t

I agree with you about food and quality of life. Not so sure about the tax rates. Are you sure that 22% is all you pay? I'd be very surprised if this is with the Greek tax system. Disclaimer: I'm from Chania and live in London the last 5 years and considering the possibility of working remotely.

atmosx 4y ago
Hello, Disclaimer: IANAA, please consult a professional. I can hook you up if you want, with someone who knows these things much better than me (drop a PM via twitter, we're following each other apparently) tl;dr: Business income generated by partnerships (OE and EE) that maintain single entry accounting books is taxed at a unified tax rate of 22%. In addition, any subsequent distribution of profits is not subject to dividend taxation. To create an OE or EE you need to have a business partner. EE is better because your partner will have limited partnership liability. The partner can be family but there are some exceptions which I don't remember (e.g. if your wife is a public servant, etc.). The catch here is that you're fully liable in case the company goes bankrupt... But that should not be a problem for companies offering services, especially IT. The alternative, if you are sole owner, is to create an IKE. Taxation then 24% tax rate + 5% on dividends. link (in Greek): https://www.startyouup.gr/el/a/58-eythynes-omorrythmwn-etairwn-oe-ee-kai-etairwn-diaxeiristwn-ike https://www.startyouup.gr/el/a/58-eythynes-omorrythmwn-etair... In your case there's an additional benefit. In case you decide to transfer your tax residence back to Greece, you might be eligible for up to 7 years 50% tax reduction.
- deleted 4y ago
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- ultim8k 4y ago
  Sounds very interesting. Especially 5% for dividends tax sounds like heaven compared to the different tax bands in UK. I'll double check with my accountant there. It may have a potential. I'm just a bit scared of Greek gov. Traditionally it has been proved completelly volatile and untrustworthy. I don't want to get personal liability or fight with the bureaucracy.

atmosx 4y ago

Hello, Disclaimer: IANAA, please consult a professional. I can hook you up if you want, with someone who knows these things much better than me (drop a PM via twitter, we're following each other apparently) tl;dr: Business income generated by partnerships (OE and EE) that maintain single entry accounting books is taxed at a unified tax rate of 22%. In addition, any subsequent distribution of profits is not subject to dividend taxation. To create an OE or EE you need to have a business partner. EE is better because your partner will have limited partnership liability. The partner can be family but there are some exceptions which I don't remember (e.g. if your wife is a public servant, etc.). The catch here is that you're fully liable in case the company goes bankrupt... But that should not be a problem for companies offering services, especially IT. The alternative, if you are sole owner, is to create an IKE. Taxation then 24% tax rate + 5% on dividends. link (in Greek): https://www.startyouup.gr/el/a/58-eythynes-omorrythmwn-etairwn-oe-ee-kai-etairwn-diaxeiristwn-ike https://www.startyouup.gr/el/a/58-eythynes-omorrythmwn-etair... In your case there's an additional benefit. In case you decide to transfer your tax residence back to Greece, you might be eligible for up to 7 years 50% tax reduction.

deleted 4y ago
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ultim8k 4y ago
Sounds very interesting. Especially 5% for dividends tax sounds like heaven compared to the different tax bands in UK. I'll double check with my accountant there. It may have a potential. I'm just a bit scared of Greek gov. Traditionally it has been proved completelly volatile and untrustworthy. I don't want to get personal liability or fight with the bureaucracy.