Transfer your UK pension to Greece
Do you have a UK pension? Make use of your chance and transfer your UK pension to Greece
If you have contributed to an occupational or private UK pension, you could transfer the UK pension to Greece almost tax free with a flat tax of 7%, enjoying your life in residing in Greece under the Greek always shining sun, being a shield against corona viruses and blue Greek seas, leading to Healthy body, Healthy mind, either in the islands or in the Greek main land.
Figuring out pension-related matters across borders can be a bit tricky, but I can offer some general guidance. Keep in mind that specifics may change, so it’s always a good idea to double-check with official sources.
As a UK citizen looking to issue an old-age pension in Greece, you’ll likely want to start by contacting the relevant authorities in both countries. In the UK, the Department for Work and Pensions (DWP) handles pensions. You can get in touch with them to inquire about your eligibility and the process for claiming your pension while residing in Greece.
Additionally, you’ll want to reach out to the Greek pension authorities. In Greece, the pension system is managed by the Social Insurance Institute (IKA). They can provide information on how to apply for a pension as a resident foreigner.
It’s crucial to ensure that you meet all the necessary requirements, provide the required documentation, and understand any potential implications for your pension when residing abroad. The UK and Greece may have a social security agreement in place to address matters like this, so it’s worth checking if any such agreement exists and how it may impact your pension entitlements.
Remember, these are general guidelines, and your situation may have unique aspects. Consulting with officials from both countries will give you the most accurate and up-to-date information.
Our traditional Law Office has been an expert on Tax Incentive laws in Greece.
New law 4714/2020 introduces an alternative taxation regime for persons who are pensioners and decide to transfer their tax residence to Greece.
The new regime provides for a flat tax of 7%, which exhausts the tax liability in Greece in respect of any income which these persons derive from sources outside Greece.
With effect as of 31.7.2020 a new exemption is introduced in the inheritance & donations’ tax code, in Greece, according to which donations of moveable property located abroad, are tax free.
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