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Greece offers low taxes to wealthy individuals. All you need to do to enjoy the favorable treatment
The Greek Ministry of Finance issued detailed guidelines for foreigners that want to move their tax residence in Greece. The "non-dom" program is one of the measures the Greek government uses to lure capital from abroad. It targets high-net-worth individuals-investors and gives them the opportunity to secure favorable tax treatment by becoming tax residents of Greece. More specifically, their foreign source income will be taxed with an annual flat tax of 100,000 euros plus 20,000 euros per spouse, child or [...]
Cabinet reshuffling: a favourite Greek pastime
Cabinet reshuffling: a favourite Greek pastime by Antonis D. Papagiannidis Greek politics is an interesting, bustling, at times magical menagerie populated by various species engaged in intense survival=of-the-fittest rivalry. This in no way constitutes some sort of Greek particularity, much less an oddity: such is the normal course of political confrontation in a parliamentary democratic system, albeit one tinged with shades of excessive prime-ministerial power in the case of latter-day Greece. This translates in systematic reset of the game on [...]
A milestone in Europe’s energy independence: Azeri gas started flowing in Greece, Italy and Bulgaria
The first gas from Azerbaijan has reached Greece and Bulgaria, via the Nea Mesimvria interconnection point with DESFA, the Trans Adriatic Pipeline (TAP) operator announced on the last day of 2020. The Azeri gas also flows to Italy, via the Melendugno interconnection point with SNAM Rete Gas (SRG). TAP (part of the Southern Gas Corridor) transports natural gas from the giant Shah Deniz field in the Azerbaijan sector of the Caspian Sea to Europe. The 878 km long pipeline crosses [...]
Brexit deal: What does it change in trade, competition, financial services and travel
The clock is ticking. The United Kingdom will be leaving the European Union within hours. Luckily, the Brexit will happen in an orderly manner, under the provisions of the Trade and Cooperation Agreement, an Agreement on Nuclear Cooperation and an Agreement on Security Procedures for Exchanging and Protecting Classified Information. The "divorce Trade and Cooperation deal" came at the eleventh hour. As the UK government notes in the Summary Expainer "it is the first the EU has ever reached allowing [...]
Looking for the summer: Airlines and tourism industry prepare for a hot Greek summer
Just days before the end of 2020, a year that profoundly hurt tourism in Greece, the British tour operator and airline Jet2 announced that it has added 135 extra flights to Greece in its summer 2021 programme. The decision aims to cover the expected surge in bookings as a Covid vaccine is rolled out. Capacity is being raised to Corfu, Kefalonia, Crete (Heraklion), Kos, Santorini, Rhodes and Zante with the additional flights a direct response to demand from holidaymakers. “Demand [...]
Of Turkish hustle and bustle and of exploratory talks
Of Turkish hustle and bustle and of exploratory talks by Antonis D. Papagiannidis The official position in Greece (and in Cyprus, for that matter) is still one of expectation that EU pressure will bring Turkey around to a more compromising behaviour – one that will make it possible for Athens and Ankara to engage in exploratory talks within January 2021 in view of East Mediterranean disputes, but also closer home over the Aegean. (Not to miss the point that some 60 [...]
Better Cotton for a sustainable future – Thousands of Greek farmers join the Initiative
The Better Cotton Initiative (BCI) has announced that the Greek AGRO-2 Integrated Management Standards have been successfully benchmarked as equivalent to the Better Cotton Standard System. The recognition will promote more sustainable Greek cotton farming. Greece is the largest cotton-producing country in Europe, with more than 45,000 registered cotton farmers. Cotton is planted on approximately 270,000 hectares – 10% of the total agricultural land. Greece produces 80% of European cotton, followed by Spain that produces 20% of Europe's total [...]
“Athos Digital Heritage”: The treasures of Mount Athos available to all
The treasures of Mount Athos are now digitally available to all at the “Athos Digital Heritage” website. Over 2 million digital images of documents, books, manuscripts and 27 thousand artefacts, as well as 3D imaging of monuments, virtual tours of monasteries and educational apps, are now online , enabling both the public and scientists to navigate over in this holy land and discover its rare cultural wealth. The “Athos Digital Heritage” project was carried out by the OTE Group on [...]