As home to the longest coastline in the Mediterranean Basin, Greece’s reputation as a bona fide beach destination is well-founded.
It’s not just about beaches, though. Greece offers mountains, thousands of picturesque islands, olive groves, vineyards, and an untouched inland wilderness, as well as a bounty of ancient and wonderfully scenic villages.
Plus, Greek people are warm and welcoming, the food is some of the best in the world, and the cost of living is low, especially for Europe.
Greece is a culturally fascinating place—the cradle of Western civilization with foundational concepts like democracy, western philosophy, political science, and literature originating here.
Sites of cultural and historical importance, some dating back thousands of years, are found all over the country, making Greece a must-visit for history buffs.
Greek’s worldwide influence is hugely down to its location. At the southernmost point of the Balkan peninsula, Greece is at the crossroads of Asia, Africa, and Europe, resulting in a diverse cultural mix. Greece has also had a colorful history, undergoing the ruling of several empires, contributing to its cultural influence on the world.
The 2008 global recession hit Greece particularly hard, triggering a prolonged debt crisis and years of austerity. By the late 2010s, the country was slowly regaining its footing before the pandemic disrupted global economies in 2020.
Today, Greece’s economy is on an upward trajectory once again, supported by growth in tourism, shipping, renewable energy, and foreign investment.
Greece’s advantage over its European counterparts is its laidback version of life on the Continent. One in which you can eat delicious local produce, live in a safe, welcoming environment, and enjoy a Mediterranean lifestyle at a low cost.
Plus, Greece offers several paths to residency, including the Financially Independent Person (FIP) Permit which most retirees use to live there long-term. The basic requirement to qualify for the FIP visa is proving a monthly income of at least €3,500 (about $4k). This residency permit is available for three years and is renewable.
After seven years of permanent and legal residency you can apply for Greek citizenship by naturalization.
Greece also offers significant tax breaks for foreign retirees, the very wealthy, and entrepreneurs.
Residents of Greece are taxed on their worldwide income, and income tax rates are relatively high… But Greece offers a tax abatement program called the Non-Dom Regime for Retirees. It allows for a 7% flat tax on many types of passive income (including pensions) for 15 years.
Stay diversified,
Lief Simon
Editor, Simon Letter
