Wealthy Europeans Flee to Greece Amid Tax Incentives and Warm Climate

A wave of affluent Europeans is relocating to Greece, drawn by its low-tax golden-visa system and year-round warmth. Notable figures such as Chris Rokos, Richard Gnodde, Nassef Sawiris and Guillaume Pousaz have already announced moves after the UK ended its non-dom tax regime and faces high borrowing costs and potential tax increases. Analysts estimate that the UK, France, Germany and Spain together lost 18,500 millionaires last year, representing roughly $100 billion in assets.

Greece offers indefinite residency for a property investment of €800,000 in Athens or €250,000 in other regions, coupled with a maximum €100,000 annual tax on non-Greek income, far lower than comparable schemes elsewhere. In 2025 the country attracted about 1,200 millionaires, holding around $7.7 billion in assets, spurring demand for luxury housing and investment opportunities. Authorities hope the influx will generate tax revenue, create jobs, and facilitate skill transfer, especially as the UK’s technology sector suffers the greatest loss of wealthy entrepreneurs. Countries that fail to provide such incentives risk losing further high-value migrants.