Wealth management in Greece

«"Alexis, my advisor, gave me a note that cites the Franco-Greek convention of 1963. That's the one that applies, isn't it?"»

No. And that's the starting point of this page. The 1963 Franco-Greek convention is replaced : the applicable text is that of the May 11, 2022, published in the Official Journal of 10 January 2024. Any documentation still based on the old convention is outdated — and it is still circulating widely.

Greece is home to 8,698 French citizens registered with the consulate as of December 31, 2025 (an increase of 1.90% year-on-year). It is a small but growing community, driven by retirees and real estate investment on the island.

At the house of Balmont Conseil, We systematically check the date of the text before quoting it. Regarding Greece, this practice makes all the difference: conventional rates have changed, and some have become significantly more favorable.

1. Why seek expertise in wealth management In Greece?

Four topics, the first of which is a methodological prerequisite.

• The applicable text. The agreement of May 11, 2022 has been in effect since January 1^er January 2024. Its withholding tax rates differ from those of 1963, and some are reduced to zero under certain conditions.
• The absence of a succession agreement. The new convention, like the old one, does not cover inheritances or gifts. This is the blind spot that needs to be addressed.
• Greek attractiveness schemes. Greece has established several schemes for new residents, including one specifically designed for foreign pensioners. These schemes are governed by Greek domestic law and are verified locally, but they carry significant weight in a decision regarding residency.
• Real estate. Island purchase, seasonal rental, local property tax: this is often the entry point of the project, and rarely the one with which one should start.

2. The France ↔ Greece framework in five verified points

Here is the applicable framework, verified in the text of the convention itself and in official sources as of September 15, 2026. The second line is the one that invalidates most of the notes in circulation.

Why is the old convention still in circulation?. The 1963 legislation was applied for sixty years; it appears in countless notes, guides, and web pages that haven't been updated since January 2024. We regularly encounter cases based on this legislation. Regarding withholding rates, the difference is substantial and generally works in favor of the taxpayer.

The absence of a succession agreement remains unchanged. Article 750 ter of the French General Tax Code therefore applies without modification: its third paragraph makes all assets received by an heir domiciled in France for at least six of the last ten years taxable in France. Article 784 A of the French General Tax Code allows for the crediting of Greek tax paid, but only up to the limit of French tax liability on assets located outside France.

The Greek attractiveness schemes do not appear in this table. They exist, they are documented by the Greek tax authorities, and they are evolving. We do not quantify them here because we have not verified them in a current primary source: they should be dealt with by a qualified advisor in Greece, and we help you ask the right questions.

3. Our services: 360° support for expatriates and investors

Three construction sites for a Greek project.

Update of the applicable framework

If you already have an analysis, we compare it with the 2022 text. This is often the first deliverable, and it changes the conclusions more frequently than you might imagine — withholding tax on dividends and interest, treatment of pensions, elimination method.

If you are starting from scratch, we will directly establish the up-to-date framework, item by item, with references and dates.

• Comparison of your existing analyses with the text of May 11, 2022.
• Conventional rates applicable to each category of income.
• Position on your pensions and their tax status.

Addressing the inheritance blind spot

In the absence of an agreement, we model the transfer in both directions and we calculate the French charge, with and without imputation under article 784 A of the general tax code.

We then examine the levers: the timing of donations, the choice of investment vehicles, and the structuring of real estate holdings. The outcome depends on the residence of each heir, which we note during the initial consultation.

Greek real estate and French heritage

Island acquisition is often the trigger for the project. We examine the ownership structure, financing, net rental yield after local and French taxes, and the implications for inheritance.

In parallel, we monitor your French assets and income: minimum tax rate for non-residents under Article 197 A of the French General Tax Code (CGI), option for the average rate when more advantageous, and real estate wealth tax. For investment vehicles, a Luxembourg life insurance contract falls under the European freedom to provide services and follows a subscriber who changes Member State.

4. Methodology: our way of working

We work in four stages, and you know where you are at each stage.

1. The initial assessment. We assess your actual situation: composition of assets, project timeline, situation of each member of the household, and tax domicile of your heirs — because it is theirs that dictates, not yours.
2. The applicable reference framework. We establish, source by source and with its date, the framework that concerns you. What we do not know, we write "to be confirmed" — never anything else.
3. The arbitrations. We present you with the numerical options, along with their respective consequences, and you decide. Heritage engineering comes after the decision, not before.
4. The follow-up. An annual review, offered free of charge, which verifies that the framework has not changed — the conventions are modified, the attractiveness schemes are eliminated, the thresholds change.

5. What the firm offers you

This is what specifically distinguishes our intervention.

• Sources, not claims. Each item in your file has its reference number and date. You can check. This is the only way to work on a subject where most of the information available online is outdated.
• A single point of contact in France. We coordinate with your local advisors, we do not replace them: the internal tax regulations of the host country are handled by a qualified professional on site. Our role is to maintain overall consistency and to defend the French side of the case.
• Fees that are easy to understand. Firm fees: €500 including VAT per hour. Annual follow-up is included. No hidden kickbacks, no performance-based billing.

Frequently Asked Questions in Greece

Which tax treaty applies between France and Greece?

That of the May 11, 2022, published in the Official Journal of 10 January 2024. It replaces the 1963 convention, which is no longer applicable.

This is a check to be made for any analysis written before 2024. Withholding tax rates have changed: dividends can be exempt under conditions of participation and duration, and interest is capped at 5 %.

Will my retirement pensions be taxed in France or in Greece?

Article 17 of the 2022 convention stipulates that pensions and similar remuneration paid in respect of previous employment are taxable only in the recipient's country of residence. Public remuneration and pensions fall under Article 18 and are subject to a different rule.

The distinction between private and public pensions is therefore crucial, and it is not always clear for mixed career paths. We establish it on a case-by-case basis.

Is there a convention on inheritances?

No, neither in the 2022 convention nor in the one it replaces. Nothing allocates the right to tax on death between France and Greece.

Article 750 ter of the French General Tax Code therefore applies without any contractual adjustment, and Article 784 A only allows for a capped deduction. This is the main substantive issue regarding this treatment.

And what about the Greek tax regimes for foreign retirees?

They exist and are governed by Greek domestic law. We are not publishing their rates and conditions here because we have not verified them in a current primary source, and they have undergone several recent reforms.

However, we tell you exactly what to verify with the Greek tax authorities or an authorized advisor, and we include the response in your file. No relocation decision should be based on an unsourced figure.

Am I eligible for CSG exemption?

Yes, if you are affiliated with a mandatory Greek social security scheme. Your French-source property income and capital gains are then subject only to the solidarity levy of 7.5 %, instead of 17.2 %.

The exemption requires a procedure: tick boxes 8SH or 8SI of the 2042 C declaration and keep proof of affiliation.

In summary

Greece is the destination in our panel where the documentation in circulation is the most outdated: a sixty-year-old convention was replaced less than three years ago, and many notes do not take this into account.

In essence, the case boils down to two points: applying the correct text for income, and addressing the absence of an inheritance agreement for the transfer.

Firm's fees: €500 including VAT per hour. Annual follow-up is offered.

Let's review your situation

A thirty-minute exchange is enough to verify that your analysis is based on the current text. You can also start with a Free X-ray of your contracts.

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