What Is the Family Office Regime?

The Family Office Regime is a tax framework designed to support high-net-worth individuals and their families in managing wealth and assets in Greece. It allows you to establish a family office under Greek law, which can be set up in various legal forms (except for non-profit organizations). The office serves to manage and administer assets, investments, and businesses owned by Greek tax residents and their families.

Who Is Eligible for the Family Office Regime?

The Family Office Regime is available to Greek Tax Residents, along with their close family members.

The Family Office must be established with the primary purpose of managing the wealth and assets of the family, held either directly or through legal entities.

Key Conditions for Establishing a Family Office

To qualify under the Family Office Regime, the family office must meet the following criteria:

1. Employee Requirement: The family office must employ at least five (5) employees within 12 months from its establishment, and on an ongoing basis. It’s important to note that family members cannot be employed by the family office.
2. Annual Expenses: The family office must incur annual expenses of at least €500,000 to qualify for the regime.

Tax Incentives for Family Offices in Greece

The Family Office Regime provides several tax advantages, making it an attractive option for wealth management in Greece:

• Cost Plus Mark-Up: The family office’s gross income, is determined on a cost-plus 7% basis. This mark-up applies to all expenses and their depreciation, except for income tax expenses.
• Taxable Income Calculation: The taxable income is calculated by deducting the expenses (to which the 7% mark-up has been applied) from the gross income.