Family Office

Greece Tries To Join Family Offices Party - Report

Editorial Staff, 16 February 2021

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The country is trying to rebuild its image as an attractive place for international investors and those with local ties a decade after it was hit by the 2008 financial meltdown and Greek fiscal crisis. 

Greece is reportedly preparing new measures to attract family offices, a move that will pit the country against fellow European Union member states such as Malta and Luxembourg and non-EU jurisdictions such as the UK, the Channel Islands and Switzerland.

Prime Minister Kyriakos Mitsotakis has announced steps including special tax breaks to attract foreign investors and lure highly qualified Greek expatriates back to the country (source: Reuters). Under the plan, family offices can deduct staff costs and operating expenses from tax. 

“Our target now is to attract very rich foreigners and also Greeks who have their money abroad, in Switzerland for example, and also investors,” the news service quoted an official as saying, but did not provide further detail.

The country is trying to rebuild its image as an attractive place for international investors and those with local ties a decade after it was hit by the 2008 financial meltdown and Greek fiscal crisis.

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