Wealth management in Greece

“Alexis, my adviser gave me a note citing the 1963 France–Greece tax treaty. That's the one that applies, isn't it?”

No. And that is the starting point of this page. The 1963 France–Greece tax treaty has been replaced : the applicable text is the treaty of 11 May 2022, published in the Official Journal of 10 January 2024. Any documentation still based on the old treaty is out of date — and plenty of it is still circulating.

Greece is home to 8,698 French nationals on the consular register at 31 December 2025 (+1.90% over one year). It is a modest but growing community, driven by retirees and by investment in island property.

At Balmont Conseil, we always check the date of a text before citing it. With Greece, that habit makes all the difference: the treaty rates have changed, and some have become markedly more favourable.

1. Why seek expert wealth management in Greece?

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

• The applicable text. The treaty of 11 May 2022 has applied since 1 January 2024. Its withholding tax rates differ from those of 1963, and some are reduced to zero subject to conditions.
• No estate tax treaty. The new treaty, like the old one, covers neither inheritances nor gifts. That is the blind spot to address.
• Greek schemes to attract new residents. Greece has introduced several schemes for new residents, including one designed specifically for foreign retirees. They fall under Greek domestic law and must be checked locally, but they weigh heavily in a decision to relocate.
• Real estate. Buying on an island, holiday letting, local property tax: this is often how the project starts, and rarely where it should start.

2. The France ↔ Greece framework in five verified points

Here is the applicable framework, checked against the text of the treaty itself and official sources as at 15 September 2026. The second row is the one that invalidates most of the notes in circulation.

Why the old treaty is still circulating. The 1963 text was applied for sixty years; it appears in countless notes, guides and web pages that have not been updated since January 2024. We regularly see files built on that basis. On withholding rates, the gap is substantial and generally works in the taxpayer's favour.

The absence of an estate tax treaty, however, is unchanged. Article 750 ter of the French General Tax Code therefore applies without any treaty adjustment: paragraph 3 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 schemes to attract new residents do not appear in this table. They exist, they are documented by the Greek tax authorities, and they change. We do not quantify them here because we have not checked them against an up-to-date primary source: they are handled with a licensed adviser in Greece, and we help you ask them the right questions.

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

Three workstreams for a Greek project.

Updating the applicable framework

If you already have an analysis, we check it against the 2022 text. This is often the first deliverable, and it changes the conclusions more often than you might think — withholding tax on dividends and interest, treatment of pensions, method for eliminating double taxation.

If you are starting from scratch, we set out the up-to-date framework directly, article by article, with references and dates.

• Your existing analyses checked against the text of 11 May 2022.
• Treaty rates applicable to each category of income.
• Our position on your pensions and the State that taxes them.

Addressing the inheritance blind spot

With no estate tax treaty, we model the transfer in both directions and calculate the French tax burden, with and without the credit under Article 784 A of the French Tax Code.

We then examine the levers: the timing of gifts, 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 wealth

Buying on an island is often what triggers the project. We look at the ownership structure, financing, net rental yield after local and French tax, and the consequences for inheritance.

Alongside this, we monitor your French assets and income: the non-resident minimum rate under Article 197 A of the French Tax Code, the option for the average rate when it is more favourable, and IFI (real estate wealth tax). For investment vehicles, a Luxembourg assurance-vie contract falls under the European freedom to provide services and follows a policyholder who moves to another Member State.

4. Methodology: our way of working

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

1. The initial review. We establish your actual situation: the make-up of your wealth, the project timeline, the situation of each member of the household, and the tax domicile of your heirs — because it is theirs that counts, not yours.
2. The applicable framework. We set out, source by source and with its date, the framework that applies to you. What we do not know, we mark “to be confirmed” — never anything else.
3. The choices. We present the options with figures and their respective consequences, and you decide. Wealth structuring comes after the decision, not before.
4. Ongoing monitoring. An annual review, free of charge, to check that the framework has not moved — treaties are amended, incentive regimes are abolished, thresholds change.

5. What the firm offers you

What concretely sets our work apart.

• Sources, not claims. Every item in your file carries its reference and its date. You can check. It is the only way to work on a subject where most of the information available online is out of date.
• A single point of contact in France. We coordinate your local advisers; we do not replace them: the host country's domestic tax rules are handled with a qualified professional on the ground. Our role is to keep the whole picture consistent and to defend the French side of the file.
• Fees that are easy to understand. Fees disclosed before any commitment: fixed-price reviews, tailor-made engagements at €500 incl. VAT per hour, insurers' commissions on contracts taken out. The annual review is free of charge.

Frequently asked questions on Greece

Which tax treaty applies between France and Greece?

The treaty of 11 May 2022, published in the Official Journal of 10 January 2024. It replaces the 1963 treaty, which no longer applies.

This is a check to make for any analysis written before 2024. Withholding tax rates have changed: dividends can be exempt subject to shareholding and holding-period conditions, and interest is capped at 5%.

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

Article 17 of the 2022 treaty provides that pensions and similar remuneration paid in respect of past employment are taxable only in the recipient's State of residence. Government remuneration and pensions fall under Article 18 and follow 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 an estate tax treaty?

No, neither in the 2022 treaty nor in the one it replaces. Nothing allocates taxing rights on death between France and Greece.

Article 750 ter of the French Tax Code therefore applies without any treaty correction, and Article 784 A only allows a capped credit. This is the main substantive issue for this destination.

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.

We do, however, tell you exactly what to have checked with the Greek tax authorities or a licensed adviser, and we include the answer in your file. No relocation decision should rest on an unsourced figure.

Am I eligible for the CSG exemption?

Yes, if you are covered by a compulsory Greek social security scheme. Your French-source property income and real estate capital gains then bear only the 7.5% solidarity levy, instead of 17.2%.

The exemption requires action: tick box 8SH or 8SI on form 2042 C and keep proof of affiliation.

In summary

Greece is the destination in our panel where the documentation in circulation is most out of date: a sixty-year-old treaty was replaced less than three years ago, and many notes have not caught up.

In substance, the file comes down to two points: applying the right text for income, and dealing with the absence of an estate tax treaty for inheritance.

Firm's fees: €500 incl. VAT per hour. Annual follow-up is free of charge.

Let's review your situation

A thirty-minute conversation is enough to check that your analysis rests on the text in force. You can also start with a free contract X-ray.

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