By the number of the French pensioners who choose to live abroad has doubled in the last ten years, now exceeding one million, the French newspaper Le Figaro it's mentioned that Greece and Cyprus together with Portugal, Italy, Tunisia, the Morocco and Malta are the countries that have put in place attractive tax measures to attract foreign pensioners who wish to reduce their tax burden.
As for Greece, it is commented that it “makes sweet eyes” at pensioners, with the uniform tax rate of 7% offered for 15 years to those who set up their tax residence there. “The logic is very simple. We want retirees to settle here, we have a beautiful country, a very good climate, so why not? Athena Kalyva, head of tax policy at the Greek Ministry of Finance, explains to the French newspaper, pointing out that in order to benefit from this system, one does not need to acquire real estate in Greece. As long as he stays there 183 days the year and belong to a country that has signed a bilateral tax treaty with Greece, as is the case of France.
In the case of Cyprus, it is stated that according to the French-Cypriot tax convention of December 18, 1981, French pensioners are not taxed in France but in Cyprus if they decide to establish their residence there. Taxation benefits them, reports the French newspaper, noting that their pensions are exempt up to 3,420 euros per tax year and from then on they are taxed at only 5%! In addition, there is no property or inheritance tax in Cyprus, concludes Figaro.
Source: News Beast
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