Greece American Expat's Money Guide: Greece
Transfers, banking, and US + local taxes for Americans in Greece. Currency: EUR.
The quick answer
- US tax treaty
- Yes
- Totalization (SS) agreement
- Yes
- Special expat tax regime
- Non-dom & flat-tax regimes
- Bank account as a US citizen
- Yes
Local top marginal income-tax rate (headline): 44%. Effective rates depend on income, residency status, and any special regime. Figures here are general and can change, so verify against current law before relying on them.
Informational only, not financial, tax, or legal advice. Cross-border tax is fact-specific; confirm with a qualified cross-border CPA or adviser before acting. Some links are affiliate links, and we may earn a commission at no extra cost to you. Full disclaimer.
Cost of living
A city-centre 1-bedroom in Greece runs about $720/mo
Compare cost of living between countries →
Approximate — Numbeo, as of 2026-06. Your real costs depend on city and lifestyle.
1 Moving your money (USD → EUR)
USD→EUR. Same dynamic as Portugal/Spain: banks bury a 1-3% spread in the exchange rate, so mid-market specialists are usually far cheaper for moving a relocation lump sum.
Our partner pick
Wise
The visible fee isn't the cost; the exchange-rate spread is. A specialist like Wise typically beats a bank wire on USD→EUR; compare your exact amount first.
Last checked 2026-06-04 · Affiliate link; we may earn a commission at no cost to you.
2 Banking as an American in Greece
You first need a Greek tax number (AFM), obtainable in person or via a representative at a local tax office (DOY). Banks then open an account with passport, AFM, and proof of address; some also ask for proof of income/residency status. As a US person you'll complete a FATCA self-certification.
Local banks generally accept US persons under the FATCA agreement, though some are cautious about the extra reporting.
3 Taxes: the part everyone gets wrong
The US side: you still file
- FEIE / FTCYou file a US return on worldwide income. FEIE or the Foreign Tax Credit usually prevents true double taxation; which one wins depends on your income and local rates.
- $10,000FBAR (FinCEN 114) if your foreign accounts top $10,000 combined at any point in the year.
- Form 8938FATCA reporting may also apply above higher thresholds.
The Greece side
Greece offers a special regime, Non-dom & flat-tax regimes. Greece runs THREE separate new-resident incentives, all of which cut GREEK tax only; none reduce US tax for Americans, who stay taxed on worldwide income. (a) HNW non-dom: a lump-sum €100,000/yr tax on all foreign income for up to 15 years (requires a €500,000 Greek investment; not Greek-resident 7 of prior 8 years). (b) Foreign-pensioner regime: 7% flat tax on foreign-sourced income (including pensions) for up to 15 years (not Greek-resident 5 of prior 6 years). (c) Impatriate regime: 50% exemption on Greek employment/self-employment income for 7 years. The Golden Visa is a residency-by-investment route, NOT a tax regime. Verify current rules with a cross-border advisor.
Where this gets people
- Greek/EU-domiciled mutual funds and ETFs are PFICs to the IRS (punitive tax plus a Form 8621 per fund). Favor US-domiciled investments.
- Greece's special regimes (HNW €100k, 7% pensioner, 50% impatriate) cut GREEK tax only. As a US citizen you're still taxed on worldwide income, so model the US side before relocating.
- The Golden Visa is residency-by-investment, not a tax regime by itself; thresholds rose on 1 Sep 2024 to €800k in high-demand zones and €400k elsewhere.
- A "special regime" headline rate is not your effective rate: eligibility and exclusions matter a lot.
- State taxes can follow you abroad depending on the US state you left, so don't assume you're done with them.
Our partner pick
Greenback Expat Tax Services
Cross-border tax is fact-specific and the penalties are real. A US-expat tax specialist handles FEIE/FTC, FBAR, and FATCA correctly.
Last checked 2026-06-04 · Affiliate link; we may earn a commission at no cost to you.
4 Investing & brokerage
US brokers sometimes drop customers with a non-US address. A broker that explicitly supports non-resident Americans is the standard fallback. Beware buying local (non-US) funds: PFIC (Passive Foreign Investment Company) rules make them a US tax nightmare.
Our partner pick
Interactive Brokers
Interactive Brokers explicitly supports non-resident Americans, so a Greece address won't get your account closed, and US-domiciled funds keep you clear of PFIC.
Last checked 2026-06-04 · Affiliate link; we may earn a commission at no cost to you.
5 Healthcare & insurance
Legal residents generally gain access to Greece's public health system, but there's usually a gap before residency and coverage kick in. Many new arrivals and nomads bridge the gap with international coverage.
Our partner pick
SafetyWing
Covers the gap between arrival and public-system enrollment. Month-to-month, designed for nomads and new arrivals.
Last checked 2026-06-04 · Affiliate link; we may earn a commission at no cost to you.
6 Common residency routes
Golden Visa (real-estate investment)
Financially Independent Person (FIP) visa (retirees/passive income)
Digital Nomad Visa
Your residency route determines your tax residency and bank access; they're connected.
Keep planning
Cheapest way to send USD → EUR
Corridor breakdown for Greece, fee by fee.
Wise vs. OFX
Which specialist wins for your transfer size.
Open a bank account abroad as a US citizen
Guide
FBAR & FATCA, explained
Guide
FEIE vs. the Foreign Tax Credit
Guide
All 16 country guides
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Frequently asked questions
Do Americans living in Greece still have to file US taxes?
Yes. US citizens file with the IRS on worldwide income no matter where they live. The US-Greece tax treaty and tools like the Foreign Earned Income Exclusion (FEIE) or the Foreign Tax Credit usually prevent true double taxation, but you still must file. This is general information, not tax advice.
Do I need to file an FBAR if I move to Greece?
If your foreign financial accounts add up to more than $10,000 at any point in the year, you generally must file an FBAR (FinCEN Form 114). Many expats also have FATCA (Form 8938) obligations. Penalties for missing these are steep, so confirm your situation with a cross-border professional.
What's the cheapest way to move money to Greece?
For a relocation lump sum, the cost is almost entirely the exchange-rate spread, not the visible fee. Banks commonly bury 1-3% in the rate. Compare your specific amount with the transfer cost tool before sending.
Can I keep my US brokerage account after moving to Greece?
Some US brokers restrict or close accounts once you have a non-US address. A broker that explicitly supports non-resident Americans is the common fallback. Don't change your address until you've confirmed your broker's policy.
What is the Non-dom & flat-tax regimes regime in Greece?
Greece runs THREE separate new-resident incentives, all of which cut GREEK tax only; none reduce US tax for Americans, who stay taxed on worldwide income. (a) HNW non-dom: a lump-sum €100,000/yr tax on all foreign income for up to 15 years (requires a €500,000 Greek investment; not Greek-resident 7 of prior 8 years). (b) Foreign-pensioner regime: 7% flat tax on foreign-sourced income (including pensions) for up to 15 years (not Greek-resident 5 of prior 6 years). (c) Impatriate regime: 50% exemption on Greek employment/self-employment income for 7 years. The Golden Visa is a residency-by-investment route, NOT a tax regime. Verify current rules with a cross-border advisor. Eligibility and exclusions matter: a regime's headline rate is not your effective rate, so confirm against current law before relying on it.
Can I open a local bank account in Greece as an American?
Yes, non-residents can generally open a local account in Greece. Banks broadly accept US persons under the FATCA agreement, though expect extra paperwork. A multi-currency account covers the gap while you get set up.
Data last verified 2026-06-04. Primary source: irs.gov.