Hedge fund billionaire Chris Rokos, Britain's third-highest taxpayer, has reportedly shifted his residency from the United Kingdom to Greece. Rokos, who leads Rokos Capital Management, also plans to establish an office in Athens, signaling a growing trend among wealthy individuals considering international relocation amid tax considerations.

The move comes as the UK government faces pressure on public finances, with Chancellor John Healey not ruling out tax hikes or a wealth tax in his upcoming budget. In contrast, Greece has been actively implementing measures to attract foreign investment and wealthy individuals.

Greece was recently recognized as one of the world's most competitive jurisdictions for the wealthy by Henley & Partners, scoring 70.5 out of 100 in their Wealth Mobility Competitiveness report. This recognition, coupled with specific tax benefits, makes the country an appealing destination.

Navigating Property and Residency

Prospective buyers in Greece do not need to be residents to purchase property, and property ownership does not automatically confer tax residency. Since the COVID-19 pandemic, average property prices in Greece have seen an annual increase of approximately 7%, according to Mark Harvey, head of international residential at Knight Frank. Buyers should budget an additional 10% for purchase costs.

Prime locations like the Athens Riviera, Porto Heli, Corfu, and Mykonos continue to draw affluent buyers. Larger islands such as Crete and Rhodes, along with mainland areas, are attractive for those seeking to benefit from the Golden Visa program and obtain Greek residency. British buyers should be aware of the 90-day cumulative rule for travel across Europe within a 180-day period.

For those looking to rent out properties, a license is required, necessitating compliance with specific safety standards. The Athens Riviera, particularly areas like Vouliagmeni, Voula, and Glyfada, is experiencing significant development, boosted by The Ellinikon, one of Europe's largest urban regeneration projects.

Property prices vary significantly by region. For instance, a 200 sqm house near the seaside in Halkidiki can range from €400,000 to €700,000, while a similar property in Larisa or Trikala might cost between €70,000 and €250,000. New-build flats in Greece saw a 6% year-on-year price increase in the first quarter of 2026.

Tax Incentives and Regimes

Greece offers significant tax advantages for wealthy foreigners earning income abroad. In June, the country introduced tax breaks targeting venture capital and hedge funds, including a reduction in the tax on bonuses and dividends in the financial sector from 15% to 5%, provided the company has operating expenses of at least €3 million annually in Greece.

The Greek non-domicile tax regime, established in 2019, allows qualifying individuals who transfer their tax residence to Greece to pay a fixed annual tax of €100,000 on their foreign-source income. This regime is available for up to 15 years and can be extended to family members for an additional fee. This contrasts with the UK, which has abolished its non-dom status and Investor Visa.

Greece levies personal income tax progressively, ranging from 9% to 44%. The capital gains tax on the sale of Greek real estate is currently suspended until December 31, 2026, effectively making the rate zero for now.

Residency and Golden Visas

Applications for residency in Greece must be made in person once in the country. Within 90 days of arrival, individuals must register their address with the Hellenic police and apply for a temporary residence permit. Permanent residency can be sought after five years of living in Greece with a temporary permit, requiring renewal every 10 years. Greece recognizes dual citizenship, allowing individuals to retain their British citizenship.

Greece's Golden Visa Programme, launched in 2013, offers permanent residence permits to non-EU nationals who invest in the Greek economy. Two specific programs are available for individuals not previously tax resident in Greece: one offers a flat tax of €100,000 on all foreign source savings and investment income for those not resident for at least seven of the past eight years, and another offers a 7% preferential rate for pensioners relocating to Greece, covering pensions and investment income, for those not resident for at least five of the past six years. Both programs are available for up to 15 years and require an investment ranging from €250,000 to €800,000 in property or financial investments.

Climate and Developments

Greece enjoys a Mediterranean climate, with hot, dry summers and cool winters, though generally milder than in Britain. The best period to visit or relocate is typically between April and October.

Major developments like The Ellinikon, a vast urban regeneration project on the site of the former Athens International Airport, are transforming the landscape. This coastal project aims to integrate residences, commercial hubs, hotels, cultural venues, and recreational facilities, designed with sustainability at its core. Architects such as Foster + Partners are involved, and the site is approximately three times the size of Monaco. The project is attracting international buyers, with British interest ranking second only to the US among overseas interest. Residential prices at The Ellinikon start from €500,000, with the Riviera Tower set to become Greece's tallest building. It is projected that by the mid-2030s, the area will accommodate 20,000-25,000 residents, employ 70,000-85,000 people, and attract 1 million tourist visits annually.