Greece ranks third globally in attracting mobile millionaires

Greece is expected to be third among European countries in attracting globally mobile millionaires in 2024, behind Italy and Switzerland and ahead of Portugal, British investment migration consultancy Henley & Partners said.

Italy remains the most popular destination for individuals with at least $1 million in liquid investable wealth despite announcing a doubling of the flat tax to €200,000 per year earlier this week.

Italy’s move will have little impact on people with a net worth of at least 7 million euros, Vito Di Pede, a tax adviser at Milan’s Studio Rock tax and law firm, said. Based on relocations up to June, Henley & Partners expects 2,200 high-worth individuals to move to Italy this year.

The regime is for a 15-year period and can be extended to family members paying 25,000 euros per person.

In Switzerland, a proposal has been put forward to impose a 50% inheritance tax on assets worth more than 50 million Swiss francs to fund the country’s green transition.

(Reuters)