Invest in Greece from Australia

An Australian investor gains access to grants that — depending on the location, the size of the enterprise, and the applicable scheme — can reach up to 70% of a project’s eligible cost, through the Development Law (Law 4887/2022, as amended by Law 5203/2025 (GG A’ 87/02.06.2025) and Law 5297/2026 (GG A’ 64/28.04.2026)). Support is delivered in English, with offices in Thessaloniki, Athens, Munich, New Jersey and Mumbai, and a strategic partnership in Melbourne.

One point to clear up at the outset, because it’s often stated wrongly: as of mid-2026 there is no comprehensive tax treaty in force between Greece and Australia — one is under negotiation. Relief from double taxation, if any, depends on Australia’s domestic foreign income tax offset rules rather than a treaty. Confirm how they apply to you with an Australian tax adviser. Below we explain exactly what that means for your money.

We don’t just advise you. We score your readiness before you commit capital.

Most advisors come in after you’ve already decided. We come in one step earlier. Before a file is submitted and before the first euro moves, we run your investment through the 360° Investment Readiness Protocol™: ten pillars — from financial capacity and tax structure to AML compliance and exit strategy — scored into an Investment Readiness Index™ (0–100), with a gap analysis and a remediation plan

Why does this matter in practice? Take the Greece–Australia tax treaty. Many investor materials present it as active, with reduced withholding rates. In reality, no comprehensive treaty is currently in force — only a negotiation in progress. A tax model built on rates that don’t exist is built on air, and the investor discovers it only after the ownership structure is already in place. Our audit catches it in the tax pillar, before it enters any projection.

That is what the 360° IR Protocol is: not a logo at the end of a sentence, but the reason our work holds up.

Why Australian investors choose Greece

An estimated 400,000-plus Australians claim Greek heritage — the largest Greek diaspora in the world outside Europe, with Melbourne regarded as one of the most significant Greek-speaking cities on the planet. This is not a demographic footnote. It is capital, relationships, and institutional knowledge that translate directly into investment advantage.

The investment case, however, goes well beyond cultural ties:

  • EU membership and legal protection. Greece operates within the institutional and regulatory framework of the European Union. Investment capital moves under EU treaties, while property title, corporate law, and dispute resolution are governed by a framework consistent with Western European standards. This offers significantly higher legal predictability than many emerging markets
  • Law 4887/2022, as in force — one of the most generous incentive regimes in Europe. The Law provides direct grants, a tax exemption (the approved aid amount used over up to 15 tax years), leasing subsidies, and employment-cost coverage across 12 aid schemes. Approved projects receive non-repayable grants that — depending on the region, enterprise size, and scheme — reach up to 70% of eligible cost. This is not a soft subsidy; it is a structured state co-investment mechanism under the EU General Block Exemption Regulation (GBER 651/2014).
  • Remote ownership is fully viable. A Greek investment can be structured entirely through a Greek legal entity with local representation. The Australian investor operates with quarterly reporting oversight, not on-the-ground presence. The Asia-Pacific time difference becomes a practical advantage: decisions are made overnight and acted on during the Greek business day.
  • Residency access. Real estate investment provides a route into the Golden Visa programme, with residency rights and Schengen mobility. Note the current thresholds, which changed in 2024: €800,000 in high-demand areas (Attica, Thessaloniki, Mykonos, Santorini, and others) and €400,000 elsewhere, with a single-property rule of at least 120 m² and a ban on short-term letting. The €250,000 threshold survives only for specific routes — conversion/restoration of buildings and a new startup investment option through Elevate Greece-registered companies.
  • Sector depth. Greece offers investable opportunities in renewable energy (solar, wind, storage), tourism and hospitality, agri-food, logistics, and manufacturing — all sectors with active demand from international capital and all covered by the schemes of Law 4887/2022, as in force.

Key incentives under Law 4887/2022, as in force

Law 4887/2022 (Government Gazette A’ 16/04.02.2022), as amended by Law 5203/2025 (A’ 87/02.06.2025) and Law 5297/2026 (A’ 64/28.04.2026), in force, reformed the previous Development Law framework and introduced 12 aid schemes. Two parameters matter first for an Australian investor: aid intensity and the minimum eligible cost.

Large enterprises
  • Aid intensity: 30–50% of eligible costs, depending on the region
  • Minimum eligible cost: €1,000,000 (Article 15)
Medium enterprises
  • Aid intensity: the regional rate plus 10 points
  • Minimum eligible cost: €500,000
Small and micro enterprises
  • Aid intensity: the regional rate plus 20 points. The 70% maximum applies only to small and micro enterprises in the highest-intensity regions
  • Minimum eligible cost: €250,000 (small), €100,000 (micro)
Cooperatives and individual calls
  • Social cooperative enterprises and agricultural/civil cooperatives: €50,000 minimum
  • Individual calls may set higher thresholds

Rates depend on location, enterprise size and scheme; the regional aid map in force sets the regional ceiling. The incentives operate under the EU General Block Exemption Regulation (GBER 651/2014), which reduces — but does not remove — state-aid compliance risk at project level.

Beyond direct grants, an investor may choose the tax-exemption form of aid instead of cash: the approved aid amount is used against corporate income tax over up to 15 tax years — not a tax holiday. It has value only if the project generates taxable profit; for a long-term, profitable operator it can match a cash grant, but the benefit arrives later and depends on performance.

Taxation: what actually applies today between Greece and Australia

This needs precision, because many materials aimed at Australian investors present an “active double taxation treaty” with specific rates. As of mid-2026, no comprehensive bilateral tax treaty is in force between the two countries. The only bilateral agreement in force covers profits from international air transport alone. A comprehensive treaty is under negotiation and anticipated, but has not entered into force.

What this means in practice:

  • There are no reduced, “treaty” withholding rates. Greek domestic rules apply, without the reductions a treaty would bring.
  • Relief from double taxation today rests on Australia’s unilateral Foreign Income Tax Offset: tax paid in Greece is generally credited against the Australian liability, so the same income is not taxed twice.
  • There is no treaty dispute-resolution mechanism (MAP) and no permanent-establishment tie-breaker rules. A future treaty will introduce these — and will change the picture once it is in force.

Independent of all this, Australian rules apply: controlled foreign corporation (CFC) rules, thin capitalisation, and the TOFA regime. Anyone structuring ownership through an Australian company, discretionary trust, or SMSF needs coordinated advice from both a Greek and an Australian tax specialist before locking in a structure. That modelling is exactly Pillar 3 of the 360° IR Protocol, and we produce it before you commit capital.

The Melbourne–Thessaloniki connection

Melbourne holds one of the largest communities of Greek heritage outside Europe. The Greek community has shaped the city’s food, retail, and professional-services landscape for over a century. This is not incidental to investing in Greece: it is an active network of people who already understand both countries, have family relationships in Greece, and often hold property or business interests there.

Thessaloniki is Greece’s second-largest city and the operational hub for investment in Northern Greece. It hosts the most active Development Law application pipeline, the Thessaloniki International Trade Fair — the largest in Southeastern Europe — and direct logistics routes to the Balkans, Turkey, and the Eastern Mediterranean.

Aggelakakis & Associates is headquartered in Thessaloniki. Its founder, Athanasios Aggelakakis, brings 20+ years of investment consulting experience, including work with investors of Greek-Australian heritage on Development Law applications, real estate acquisitions, renewable energy projects, and business establishment. We are members of AmCham Greece, AHK Germany and SEVE (the Greek Exporters’ Association) — institutional relationships that matter when you’re managing approvals, partnerships, and regulatory processes.

And you don’t have to start with a distant European office. Through our strategic partnership in Melbourne, you get direct, local support in your own time zone — initial meetings, document collection, and clarifications face to face. From there, the handover to the Thessaloniki and Athens teams for legal structuring and execution in Greece is seamless, with nothing lost in translation or to the time difference.

For an Australian investor unfamiliar with Greek bureaucracy, the value of a Thessaloniki-based firm is not geographic convenience. It is the difference between an application that moves and one that stalls for two years in an administrative queue.

How to invest in Greece from Australia: 6 steps

Step 1: Investment Readiness Assessment

We define your objective: capital appreciation, yield, residency, or operational expansion into Europe. We confirm your eligible vehicle — individual, company, joint venture, or SMSF. We run a readiness diagnostic under the 360° IR Protocol to see whether the project qualifies under Law 4887/2022, as in force and which scheme fits.

Step 2: Sector and location selection

Rates vary by region and enterprise size under the regional aid map in force. We identify the combination that maximises your total incentive package against your thesis.

Step 3: Legal and corporate structure

Formation of a Greek entity — typically an IKE or EPE — registered with the Business Registry (GEMI). Corporate bank account, and a Greek tax number (AFM) for the entity and its Australian shareholders. Our legal partners handle the full incorporation remotely — no need to travel to Greece.

Step 4: Development Law application preparation

A complete application requires a certified investment plan, financial projections, a site and permits assessment, a scoring-matrix analysis, and submission through the authority’s digital platform. The score determines priority in funding allocation. Applications are evaluated within each call’s cycle under Article 19 of Law 4887/2022, as in force. Evaluation and decision timelines vary by scheme and cycle and are outside the applicant’s control. A strong score improves a file’s position; it does not guarantee approval.

Step 5: Execution and compliance monitoring

Approved projects must be implemented within deadlines and meet progress-reporting obligations. Disbursements are tied to verified expenditure milestones. Our team tracks deadlines, coordinates with the supervising authority, and manages audit documentation — taking the compliance burden off the investor.

Step 6: Exit or continuation planning

Incentives carry lock-in periods — typically five years — after which exit, partial liquidation, or reinvestment opens up. We model exit scenarios from the outset, structure ownership to minimise Greek capital gains tax, and coordinate repatriation in compliance with both countries’ tax obligations.

Ready to Begin Your Investment Journey in Greece?

Start with an eligibility assessment or contact our team for personalized investment guidance.

Frequently Asked Questions: Investing in Greece from Australia

Can an Australian citizen own property or a business in Greece?

Yes. As an EU member state, Greece imposes no restrictions on property ownership or business establishment by Australians. They can buy real estate, incorporate a company, and operate a business on the same terms as EU citizens. A Greek tax number (AFM) is required for both property and company ownership — a routine administrative step through the local tax office with a passport.

Does Australia have a double taxation agreement with Greece?

Not a comprehensive one, as of mid-2026. The only bilateral agreement in force covers profits from international air transport alone. A full treaty is under negotiation and anticipated. In the meantime, double taxation is avoided mainly through Australia’s unilateral Foreign Income Tax Offset. Be wary of any material quoting “treaty” Greece–Australia withholding rates — they don’t currently exist.

What is the minimum amount for a Development Law grant?

It depends on the scheme and the size of the enterprise. Under Article 15 of Law 4887/2022, as in force, minimum eligible costs are €1,000,000 for large, €500,000 for medium, €250,000 for small and €100,000 for micro enterprises, and €50,000 for social cooperative enterprises and agricultural/civil cooperatives. Individual calls may set higher thresholds.

How long does an application take to approve?

Applications are evaluated within each call’s cycle under Article 19 of Law 4887/2022, as in force. Evaluation and decision timelines vary by scheme and cycle and are outside the applicant’s control. Application quality — completeness, scoring accuracy, robust projections — is what the applicant controls; incomplete files draw clarification requests and lose time.

Can I use my SMSF to invest in Greece?

SMSF investment in Greek assets is in principle permissible under the sole purpose test, but structurally complex. Greek real estate held directly by an SMSF with debt financing is classified as a limited recourse borrowing arrangement, and the trustee must demonstrate compliance with the sole purpose test, the arm’s length test, and the in-house asset rules. Most invest through an Australian-regulated entity that in turn holds the Greek asset. Specialist SMSF legal advice is essential.

Do I need to travel to Greece for the process?

No. Company formation, tax registration, bank account opening, and application preparation can all be done remotely through a power of attorney. On-site visits are recommended for real estate acquisitions and large projects — property due diligence is not substitutable by remote review — but the legal and administrative process does not require your presence at any stage.

Why Aggelakakis & Associates?

Offices in Greece (Thessaloniki, Athens), Germany (Munich), the USA (New Jersey), and India (Mumbai), and a strategic partnership in Melbourne. Members of AmCham Greece, AHK Germany and SEVE. We work with international investors in their own language and within their own regulatory reality — not only in Greek. And we are the creators of the 360° Investment Readiness Protocol™, the method that scores a project before capital is committed, rather than fixing it after the problem appears.

Ready to invest in Greece from Australia?

Every engagement begins the same way: a structured initial call. We assess your profile, identify the relevant schemes under Law 4887/2022, as in force, and tell you whether and how the 360° IR Protocol applies to your specific case.

Contact Aggelakakis & Associates to discuss your investment