Retiring in Greece from Canada
Greece offers a unique 7% flat tax regime on foreign pension income, stunning landscapes, 300 days of sunshine, and some of the lowest costs of living in Western Europe.
Published by CanIRetireCanada.ca
Educational information. Sources and correction policy.
7%
Tax on Foreign Pensions
Flat rate for 10 years
€2,000/mo
Visa Income Min.
~$2,900 CAD/month
€500–900
1BR Rent (Athens)
Islands vary widely
30–50%
Cost vs Ontario
Lower for same lifestyle
Greece's 7% Flat Tax Regime for Foreign Retirees
Greece introduced a 7% flat tax on all foreign-source income (including pensions, investment income, and rental income from abroad) for new residents who were non-Greek residents for the previous 5 of 6 years. The regime lasts for 15 years. This applies to your CPP, OAS, RRIF, and RRSP withdrawals.
Important: Like Italy, Greece's 7% regime does not grant foreign tax credits. Canada's 25% withholding on RRIF/CPP/OAS for non-residents stacks on top. Effective total rate: 7% + 25% = 32% on pension income. For comparison, if Canada withholds 25% and there's no treaty reduction, Greece's 7% is effectively additional — verify with a tax advisor.
Apply for the regime in your first year of Greek residency — do not miss this deadline
Pay a minimum annual tax of €500 under the regime (very low minimum)
Canada and Greece have a tax treaty (in force) — verify if the 15% treaty rate on CPP/OAS applies to reduce the 25% default withholding
The 7% applies to all foreign-source income regardless of whether it's remitted to Greece
How to Get a Greek Long-Stay Visa
Apply for the D-Visa (National Visa for Financial Independence)
Greece's national visa for non-EU retirees with passive income. Minimum income: €2,000/month per person + €200 per dependent. Apply at the Greek Consulate in Toronto or Vancouver. Required: passport, 6 months bank statements, pension award letters, private health insurance, proof of accommodation in Greece.
Official LinkRegister with KEP and Get Your AFM (Tax Number)
On arrival, register with your local KEP (Citizens' Service Centre) to get your AFM (Αριθμός Φορολογικού Μητρώου) — your Greek tax number. You need this for absolutely everything. Also get your AMKA (social security number) for healthcare. Both are free.
Official LinkApply for Your Greek Residence Permit
Apply at the local Immigration Office (Υπηρεσία Αλλοδαπών) within 2 months of arriving. You'll receive a Residence Permit (Άδεια Διαμονής) valid for 2 years, renewable. After 5 years, apply for Long-Term Residency (permanent status).
Register for Healthcare (EOPYY)
Greece's national health organization (EOPYY) provides healthcare to residents. Register with your AMKA number. Greek public hospitals are free but can be crowded. Most expats get private health insurance (€80–200/month) for faster access to specialists and private hospitals (particularly in Athens and Thessaloniki).
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Best Areas for Canadian Retirees in Greece
| Area | 1BR Rent | Best For |
|---|---|---|
| Athens (suburbs: Glyfada, Kifisia) | €600–1,100 | Urban life, excellent medical care, international airport, English widely spoken |
| Crete (Chania, Heraklion) | €450–800 | Large expat community, beaches, mild winters, affordable, largest Greek island |
| Corfu | €400–750 | British and European expat history, greenest island, international connections |
| Rhodes | €400–700 | Long season, medieval old town, good infrastructure, ferry connections |
| Peloponnese (Kalamata, Nafplio) | €350–650 | Authentic Greece, olive country, very affordable, growing expat scene |
| Thessaloniki | €400–700 | Second-largest city, vibrant food scene, colder winters, affordable urban life |
Related Resources
Frequently Asked Questions
Does Canada have a tax treaty with Greece?
Yes. Canada and Greece signed a tax convention that entered into force in 2009. The treaty limits Canada's withholding on CPP, OAS, and RRIF to 15% for Greek residents (instead of the default 25%). This means Greek retirees from Canada can file Form NR5 to receive the 15% treaty rate. However, Greece's 7% flat tax regime applies on top — so the combined rate is approximately 22%, similar to Italy.
How does Greece's 7% flat tax regime for foreign retirees actually work?
Greece's 7% regime (Article 5A of the Income Tax Code) applies to all foreign-source income — including your CPP, OAS, RRIF, and investment income — for individuals who transfer their tax residency to Greece after being non-Greek residents for 5 of the previous 6 years. The regime lasts 15 years and requires a minimum annual tax payment of €500. You must apply in your first year of Greek residency.
Is Greece's 7% regime better than Italy's for Canadians?
They're structurally similar, but Greece has some advantages: the regime lasts 15 years (vs. 10 in Italy), the minimum annual tax is just €500 (vs. Italy's higher minimum), and you can live anywhere in Greece (not just small southern municipalities). The downside is the same as Italy — no foreign tax credit, so Canada's 15% and Greece's 7% both apply, giving a ~22% combined rate. Greece also has a €2,000/month minimum income requirement for the visa.
What income do I need to qualify for a Greek retirement visa?
Greece's D-type national visa (Financial Independence Visa) requires €2,000/month (~$2,900 CAD) per applicant plus €200/month per dependent. Check the current requirements separately for each country; older Portugal income comparisons on this site were inaccurate. Combined maximum CPP + OAS ($24,867/year = $2,072/month) falls short — most Canadians need to supplement with RRIF income.
Can I access public healthcare in Greece as a Canadian resident?
Yes. Once you receive your AMKA (Greek social security number) and register with EOPYY (the national health organization), you have access to public healthcare. Register at your local KEP (Citizens' Service Centre) upon arrival. Public hospitals are free but can be crowded with long wait times. Most expats take private health insurance (€80–200/month) for faster specialist access, particularly in Athens or Thessaloniki.