Greece: Tax, Salary & Cost of Living Guide

Verifindex Score

3.55 / 5 - A-

Ranked #20 of 21

Effective tax rate at the $100,000 USD benchmark: 46.6%

Key stats

Median annual salary

€16,000 (US$18,900 USD)

Cost of living index (US = 100)

59.5

Safety

92.25428183975397/100

Healthcare

77/100

Climate: average annual temperature

14.3°C / 57.8°F annual average (1991–2020). Informational, not weighted in Verifindex Score

Happiness

61/100. Informational, not weighted in Verifindex Score

Freedom

73.5474928/100

Tax snapshot (employed, Jan – Dec 2026)

About Greece for expats

Greece tax for expats centres on two flagship incentive regimes that have made the country one of Europe’s most actively-marketed relocation destinations: a 7% flat tax for foreign retirees, and a 50% income tax exemption for new working residents. Both apply on top of an otherwise standard progressive income tax system with four brackets ranging from 9% to 44%, and EFKA social security contributions of approximately 13.9% for private-sector employees.

The Greece 7% flat tax for retirees applies to qualifying individuals receiving foreign pension income who transfer their tax residence to Greece. The regime is available for 15 years and covers all foreign-source income at the flat 7% rate - not just pensions but also dividends, interest, and capital gains on foreign assets. To qualify, applicants must not have been Greek tax residents in five of the previous six years, and must be from a country with a tax cooperation agreement with Greece. The scheme has been particularly popular with retirees from Germany, the UK, and northern Europe.

The Greece 50% new-resident exemption (Article 5C of the Greek Income Tax Code) allows individuals taking up first employment or self-employment in Greece to pay income tax on only 50% of their Greek-source employment income for seven years. The remaining 50% is fully exempt. To qualify, applicants must not have been Greek tax residents in seven of the previous eight years and must commit to remaining at least two years. The regime applies to both employed and self-employed income and is uncapped - making it particularly attractive to higher earners. Eligibility criteria are specific and the rules have evolved since launch, so professional advice is essential.

The cost of living in Greece is among the lowest in Western Europe. Athens is the most expensive city but remains considerably cheaper than London, Paris, or Amsterdam. The Greek islands and smaller cities offer very affordable living, particularly for housing, food, and transport. Dining out in Greece is notably inexpensive by Northern European standards. Greece uses the euro (EUR), which simplifies finances for eurozone movers; those earning in GBP or USD face exchange rate exposure though the low cost base provides a buffer.

Salary & income

The median gross salary in Greece is approximately €16,000 per year according to ELSTAT 2024 data. After tax and social security, a typical employee takes home roughly €1,000 per month. Greece pays 14 monthly instalments: 12 regular payments plus a 13th (Christmas) and 14th (Easter and summer) bonus.

Salaries in Greece are low compared with most of the EU. This is partly a legacy of the financial crisis and subsequent austerity measures, which compressed wages across most sectors. Technology, shipping, finance, and tourism management offer above-median salaries, particularly in Athens and Thessaloniki. Public sector employment remains a significant part of the economy.

The combination of low salaries and moderate taxation means Greece is more attractive to remote workers earning foreign salaries than to those seeking local employment at local pay rates. The tax incentives for new residents reinforce this dynamic.

Key things to know

Greece's public healthcare system (ESY) provides coverage to all insured residents. Quality is reasonable in Athens and Thessaloniki but more limited on smaller islands and in rural areas. Public hospitals can be crowded, and wait times for specialists are common. Private healthcare is widely used and relatively affordable, with basic plans starting from around €40 to €100 per month. Many expats use a combination of public and private care.

Non-EU nationals generally need a work visa with employer sponsorship, or can apply under the Digital Nomad Visa programme for remote workers. EU citizens can live and work freely but must register and obtain a Greek tax number (AFM). The bureaucratic process in Greece is often cited as slower and more paper-heavy than in other EU countries. Always verify current requirements on the official Greek migration ministry website.

Greece's climate is Mediterranean, with hot, dry summers (30 to 40°C) and mild, wet winters (5 to 15°C). The islands and southern mainland are warmest. Northern Greece (Thessaloniki, Macedonia) experiences colder winters, occasionally with snow. Athens is hot in summer and mild in winter, with occasional heatwaves exceeding 40°C. Greece averages over 250 sunny days per year, making it one of the sunniest countries in Europe.

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