Business

Greece invites retirees from affluent countries to become tax residents in Greece

On 31/07/2020 the Greek Parliament voted the Law No 4714 / 31-07-2020 which, among other things, arranged the tax status of individuals who are tax residents of a foreign country and are entitled to pension income abroad. Briefly, the most essential conditions are the following: 1. Individual who is beneficiary of pension income abroad  wants to transfer his tax residence to Greece  has not been a tax resident of Greece for the previous five of the six years before the transfer of his residence  requests the transfer of his tax residence from a country that cooperates for tax purposes with Greece  is not included in another case of alternative income taxation that arises abroad of individuals who transfer their tax

Tax Residence – Definition criteria

Based on the last amendments of the Income Tax Code and especially on the term of Article 4 regarding tax residence, which took place via Article 1 Law 4646/2019 , the basic criteria for the definition of the tax residence for individuals and legal persons are as follows : Α. Legal Persons – Establishment of legal person according to the Greek legislation – Registered office in Greece – Place of real management in Greece. This means : i) place of daily management ii) place of strategic decisions making iii) place of annual general meeting iv) place of bookkeeping and info v) place of meeting for legal person ‘s management vi) place of residence for legal person ‘s management members vii)

Transfer of business in the hotel and tourism sector

Aegean Consulting is proud to announce that it acted as Greek Law Counsel to the acquisition of prime boutique hostel Athens Style from the company Safestay Greece and its shareholder – member Safestay PLC for €1.5 million. The listed company Safestay PlC is the owner and operator of an international brand of contemporary hostels. The Aegean Consulting team was led by Managing Partner Dimitris Piperakis. www.safestay.com/news-and-press/safestay-acquires-new-hostel-in-athens-greece

Greece invites retirees from affluent countries to become tax residents in Greece

On 31/07/2020 the Greek Parliament voted the Law No 4714 / 31-07-2020 which, among other things, arranged the tax status of individuals who are tax residents of a foreign country and are entitled to pension income abroad. Briefly, the most essential conditions are the following: 1. Individual who is beneficiary of pension income abroad  wants to transfer his tax residence to Greece  has not been a tax resident of Greece for the previous five of the six years before the transfer of his residence  requests the transfer of his tax residence from a country that cooperates for tax purposes with Greece  is not included in another case of alternative income taxation that arises abroad of individuals who transfer their tax

Tax Residence – Definition criteria

Based on the last amendments of the Income Tax Code and especially on the term of Article 4 regarding tax residence, which took place via Article 1 Law 4646/2019 , the basic criteria for the definition of the tax residence for individuals and legal persons are as follows : Α. Legal Persons – Establishment of legal person according to the Greek legislation – Registered office in Greece – Place of real management in Greece. This means : i) place of daily management ii) place of strategic decisions making iii) place of annual general meeting iv) place of bookkeeping and info v) place of meeting for legal person ‘s management vi) place of residence for legal person ‘s management members vii)

Transfer of business in the hotel and tourism sector

Aegean Consulting is proud to announce that it acted as Greek Law Counsel to the acquisition of prime boutique hostel Athens Style from the company Safestay Greece and its shareholder – member Safestay PLC for €1.5 million. The listed company Safestay PlC is the owner and operator of an international brand of contemporary hostels. The Aegean Consulting team was led by Managing Partner Dimitris Piperakis. www.safestay.com/news-and-press/safestay-acquires-new-hostel-in-athens-greece