Moving to Greece

Greece has quietly become one of the most compelling relocation destinations in Europe for Americans — a rare combination of low cost of living, a sunny Mediterranean climate, deep culture, and some of the most generous tax incentives on the continent. Athens is a sprawling, energetic capital with a booming food scene and a fast-growing remote-work community, while Thessaloniki offers a more laid-back university-town feel. Beyond the mainland, Crete and the islands deliver the postcard version of Greek life at prices that undercut Spain, Italy, and Portugal.

The country enjoys roughly 250–300 days of sunshine a year, ranks among the safer countries in Europe for violent crime, and offers a slow, social lifestyle built around long meals, coffee, and the sea. English is widely spoken in Athens, Thessaloniki, and tourist areas, so the initial landing is smooth — though learning some Greek goes a long way outside the cities and is required for eventual citizenship. Infrastructure is solid in the cities, fiber internet has expanded rapidly, and budget flights and ferries connect you across the Aegean and to the rest of Europe. The main friction points are Greek bureaucracy, which is famously slow, and island living that can feel isolated and seasonal off-peak.

US Tax Obligations

As an American citizen or green card holder, you must continue to file US federal taxes no matter where you live. The two main tools for avoiding double taxation are the Foreign Earned Income Exclusion (FEIE), which lets you exclude up to $132,900 (2026) of earned income, and the Foreign Tax Credit (FTC), which offsets US tax with tax paid to Greece. To use the FEIE you must meet either the Physical Presence Test (330 days outside the US in a 12-month period) or the Bona Fide Residence Test.

Greek Tax Residency

If you spend more than 183 days per year in Greece, you become a Greek tax resident and are taxed on worldwide income. Greece's standard personal income tax is progressive, running from 9% up to 44% across the brackets, plus a "solidarity contribution" that has been suspended for most income in recent years. This is where Greece's special regimes become very valuable.

Special Tax Regimes for New Residents

Greece offers three headline incentives to attract foreigners, all requiring that you were not a Greek tax resident for a set number of prior years:

• 7% flat tax for foreign pensioners: Retirees who move their tax residence to Greece can pay a flat 7% on all foreign-source income (pensions, dividends, rents, capital gains) for up to 15 years. This pairs naturally with the FIP visa.
• €100,000/year non-dom lump sum for high-net-worth individuals: Pay a flat €100,000 per year on all foreign-source income regardless of amount (plus €20,000 per additional family member), with no obligation to declare the underlying foreign income in Greece. This requires investing at least €500,000 in Greece within three years and lasts up to 15 years.
• 50% income-tax exemption for professionals/employees: New tax residents who transfer to Greece for employment or self-employment can exempt 50% of their Greek-source employment or business income from tax for 7 years. This is the regime most relevant to digital nomads and remote workers who become Greek tax residents.

US–Greece Tax Treaty

The US and Greece have a bilateral income tax treaty (signed in Athens on February 20, 1950, and still in force) that helps prevent double taxation and sets rules on residency, business profits, dividends, interest, and royalties. Because the treaty is old, its provisions are limited compared with modern treaties — so cross-border planning matters. Work with an advisor who knows both systems; firms like Greenback Expat Tax Services or Bright!Tax specialize in US expat returns. Affiliate disclosure: we may earn a commission if you use our Greenback link, at no extra cost to you.

Social Security

The US and Greece have a Totalization Agreement, so your Social Security contributions in one country can count toward benefit eligibility in the other, and you avoid paying into both systems at once. For Greece, the agreement covers retirement, invalidity, and survivors benefits.

Public Healthcare (ESY)

Greece's national health system, ESY (Εθνικό Σύστημα Υγείας), provides universal coverage to legal residents who contribute to social security or register through their residence status. Once you have your residence permit and an AMKA (social security number), you can access public hospitals and clinics at little or no cost, with modest co-pays for prescriptions. Care in the major public hospitals in Athens and Thessaloniki is competent, and many doctors trained in Western Europe or the US and speak English.

The weaknesses are real, though: the public system was hit hard by the debt-crisis austerity years, so you can encounter long waits for specialists and elective procedures, understaffing, and dated facilities — especially outside the big cities and on smaller islands, where serious cases are often transferred to Athens or Crete. Most expats treat ESY as a safety net and rely on private care day-to-day.

Private Healthcare

Private healthcare in Greece is high quality and, by US standards, remarkably cheap. Leading private hospitals — Hygeia, Metropolitan, Iaso, and Athens Medical Center in Athens, and Euromedica and Interbalkan in Thessaloniki — are modern, English-friendly, and fast. A private specialist visit typically costs €50–€80 out of pocket.

Private health insurance is inexpensive relative to the US: expect roughly €50–€150/month for an American in their 30s–40s, and €150–€350/month for those over 60, depending on coverage. Popular insurers include Ethniki, Interamerican, Generali, and Allianz. Private insurance is required for your visa application and strongly recommended long-term even after you gain ESY access.

Prescriptions and Dental

Prescription drugs are far cheaper than in the US and many medicines sold by prescription in America are available over the counter at Greek pharmacies (φαρμακείο), which are plentiful and staffed by knowledgeable pharmacists. Dental care is largely private and paid out of pocket, but prices run 50–70% below US rates — a cleaning is about €40–€60.

Opening a Greek Bank Account

You'll want a Greek bank account for rent, utilities, and day-to-day life. The major banks are the "big four": National Bank of Greece (NBG), Alpha Bank, Eurobank, and Piraeus Bank. To open an account you generally need your passport, a Greek tax number (AFM), proof of a Greek address, and often proof of income or your residence permit. An AFM is the Greek equivalent of Portugal's NIF and is the key that unlocks banking, rentals, and utilities — get it early at the local tax office (ΔΟΥ) or via a representative.

As an American, expect extra friction from FATCA (Foreign Account Tax Compliance Act): because of the US reporting burden it imposes on foreign banks, some Greek branches are hesitant to open accounts for US citizens. Persistence and a residence permit help, and the larger banks (especially NBG and Piraeus) handle US clients most often. Budget a couple of visits and some paperwork patience.

Digital Banking and Payments

Revolut is extremely popular in Greece and many locals and expats use it as a primary spending account, though it should not be your only account for official purposes. Greece also rolled out IRIS, a national instant mobile-payment system linked to your Greek bank account, now widely accepted by shops, professionals, and even for peer-to-peer transfers.

Wise (Recommended for Transfers)

For moving money between the US and Greece, Wise (formerly TransferWise) is the tool most expats rely on. Wise gives you the real mid-market exchange rate with transparent, low fees — typically 0.4–0.6% per transfer versus 2–4% at traditional banks. You can hold and convert USD and EUR, receive money in multiple currencies, and use a Wise debit card across Greece and the EU. Set up your Wise account before leaving the US so verification goes smoothly.

Practical Tips

• Get your AFM (tax number) first — nearly everything else (bank account, rental, utilities, phone contract) depends on it.
• Keep a US bank account open. Charles Schwab, Fidelity, and Capital One are expat favorites for no-foreign-transaction-fee debit cards.
• Greece remains more cash-friendly than much of Western Europe, especially on islands and at small tavernas — carry some euros, though card acceptance has grown fast.
• ATM withdrawals from the big-four bank machines avoid the surcharges that independent "Euronet" ATMs (common in tourist zones) tack on — use bank-branded ATMs.