Inheritance tax in Greece: What you need to know

Dreaming of a sun-soaked retirement in Greece? If you’re thinking of moving to a new country, one thing you’ll need to get to grips with is its tax system.

For UK expats considering retiring in Greece, or people living in the UK who’ve received an inheritance from a Greek relative, it’s important to understand the country’s inheritance tax system.

Like with all things tax-related, it can be complicated. Getting professional advice is a must, but we’re also here to help with some useful information on how inheritance tax works in Greece.

In our essential guide below, we’ll cover everything from rates and allowances to exemptions, as well as how to calculate and pay inheritance tax there.

We’ll also show you how to send large amounts of money securely between countries using the Wise Account. This can be extremely useful if you have inheritance tax to pay, or want to send money from an inheritance back to the UK.

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Table of contents

What is inheritance tax? Inheritance tax in Greece Who pays inheritance tax in Greece? Inheritance tax rates in Greece Taxable assets and exemptions How to calculate inheritance tax in Greece How to pay inheritance tax in Greece Wise - For big money transfers at life’s big moments FAQs about inheritance tax in Greece How much can I inherit without paying inheritance tax in Greece? Do foreigners pay inheritance tax in Greece? How does inheritance work in Greece? Which EU countries have no inheritance tax?

What is inheritance tax?

Inheritance tax, known as IHT in the UK, is a tax paid to the government on the estate of someone who has died. The ‘estate’ usually encompasses all property and possessions, as well as savings, investments and pensions.

Many countries have inheritance tax systems. Depending where in the world you are, the tax may be known as estate tax, inheritance tax or succession tax.

However, not all countries have this kind of tax in place. New Zealand, Singapore, Portugal and Canada are among a handful of countries which don’t charge inheritance tax at all.¹

Inheritance tax in Greece

Greece does have inheritance tax legislation, which applies on a national (rather than regional) level.

Unlike in the UK where inheritance tax is payable by the estate, in Greece it’s payable by each beneficiary individually.

Each person has a tax-free personal allowance, which is higher for closer relatives such as spouses and children under the age of 18.²

All beneficiaries will have to pay tax on anything they inherit above this threshold, with rates set in tiers according to the value of the inheritance and their relationship to the deceased person.²

Who pays inheritance tax in Greece?

Greek inheritance taxes are payable on all assets and property located in Greece, no matter whether the deceased person was a Greek national or not.³

It’s also due when assets are located abroad, but are owned by either a Greek national or a foreign national resident in Greece for tax purposes.³

Each beneficiary will need to pay inheritance tax to the authorities. This is different to how it works in the UK, where a lump sum of tax is paid out of the estate.

It’s important to get professional tax advice to double check which country’s tax laws apply to you, especially if you live between countries or have property in multiple countries.

Inheritance tax rates in Greece

In the UK, a flat rate of tax is applied to estates valued over a certain sum. However, it works differently in Greece.

The Greek system uses tax rates which vary depending on the relationship of the beneficiary to the deceased, and the value of the inheritance.

Each beneficiary has a personal tax-free allowance, and will pay tax on inheritances above this threshold.

Here’s a quick look at the current inheritance tax rates and personal allowances in Greece:²

Relationship to deceased	Personal tax-free allowance (EUR)	Value of inheritance (EUR)	Inheritance tax rate
Spouse, children, grandchildren, parents	150,000	150,000 to 300,000	1%
〃	〃	300,000 to 600,000	5%
〃	〃	600,000+	10%
Great-grandchildren, grandparents, great-grandparents, siblings	30,000	70,000 to 100,000	5%
〃	〃	200,000 to 300,000	10%
〃	〃	300,000+	20%
All other heirs	6,000	66,000 to 72,000	20%
〃	〃	195,000 to 267,000	30%
〃	〃	267,000+	40%

It’s also worth noting that spouses (married or in a civil partnership for at least 5 years) and children under 18 have a larger personal allowance, of €400,000 EUR.²

Taxable assets and exemptions

Under Greek inheritance laws, any assets located in Greece are considered to be taxable assets. Also, assets that are overseas but are owned by someone who is either a Greek national or resident in Greece for tax purposes.³

There are a few exemptions to know about with Greek inheritance tax:³

• Spouses and children under 18 years old have a tax-free exemption of €400,000 EUR - provided the marriage or civil partnership lasted at least 5 years before the deceased person’s death.
• Movable property located outside of Greece, owned by a Greek citizen who has lived in the overseas country permanently for at least 10 consecutive years
• If the property inherited is the first home of the beneficiary, if they have inherited due to the death of a spouse/civil partner. The beneficiary must be a Greek or EU citizen.

The estimated value of real estate, possessions and money will be added up, along with the person’s debts (if any). Debts will be subtracted from the assets to come up with the total taxable value of the estate.

How to calculate inheritance tax in Greece

Here’s an overview of how Greek inheritance tax can be calculated:

1. The taxable net asset is calculated, by minusing the liabilities (debts) from the value of the inventory of assets.
2. The taxable net asset is then distributed between heirs, according to Greek inheritance laws and the will of the deceased person.
3. For each beneficiary, the taxable sum is the amount left after their tax-free allowance has been deducted
4. On the remaining sum, tax rates will apply according to the value of the inheritance received and the beneficiary’s relationship to the deceased person.

How to pay inheritance tax in Greece

If you are a beneficiary who is liable for inheritance tax in Greece, you must file an inheritance tax statement/declaration within a certain time frame. This is within 6 months from the date of death or probate being issued if you live in Greece, or 12 months if you live abroad.⁴

The tax due is then paid in 12 equal bi-monthly instalments of at least €500 EUR, or you can pay the whole sum at once and receive a 5% discount.³

You may need to contact the relevant Greek authorities to find out about accepted payment methods.

If you’re living in the UK or another country, a solution such as Wise could be ideal for sending a payment for inheritance tax to Greece. You can send money worldwide with Wise, for low fees* and mid-market exchange rates. There’s even a dedicated service for securely sending large amounts.

Wise - For big money transfers at life’s big moments

After reading this, you should have a better idea of how the Greek inheritance tax system works - and how it applies to you and your family. We’ve looked at personal allowances, rates, exemptions and who has to pay the tax.

We’ve also covered how to pay inheritance tax in Greece. If you need a way to pay inheritance tax, send inherited money back to the UK or generally manage your finances between countries - Wise is a great solution.

With Wise, you can hold and convert between 40+ currencies in your online account. And you can send money worldwide for low, transparent fees* and mid-market exchange rates.

If you’re sending a large sum between countries, read our quick guide on what documents you’ll need.

Whether you’re paying foreign bills or trying to get the best exchange rates when repatriating funds from overseas back to the UK, your Wise account can do it all.

Register with Wise

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FAQs about inheritance tax in Greece

Here are some commonly asked questions:

How much can I inherit without paying inheritance tax in Greece?

It all depends on your relationship to the person who has died. If you’re a close relative, you can inherit between €6,000 and €150,000 EUR before you need to pay tax. For spouses/civil partners (married for at least 5 years) and children under 18, you can inherit up to €400,000 EUR under a special exemption.²

Do foreigners pay inheritance tax in Greece?

Yes, if the property you inherit is located in Greece, it’s likely that you’ll need to pay Greek inheritance tax.

It’s also useful to know that the UK and Greece have a double taxation treaty in place, which should prevent you from paying tax on the same asset twice - once in each country.

Tax can be extremely complicated though, so it’s recommended to get expert tax advice on which country’s tax laws apply to you and what your obligations are.

How does inheritance work in Greece?

When a person dies, Greek law dictates that the wishes for gifts and inheritance outlined in their will take precedence.

However, it’s not usually possible for very close relatives - spouses, children and parents - to be completely excluded from inheriting by a will, except in very specific circumstances.⁴

If there is no will, inheritances will be bestowed according to a line of succession starting with spouses and children.⁴

Which EU countries have no inheritance tax?

Within the EU, the following countries have no inheritance taxes:⁵

• Austria
• Cyprus
• Estonia
• Latvia
• Malta
• Romania
• Slovakia
• Sweden.

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Sources used:

1. No More Tax - 10 jurisdictions with no inheritance tax
2. PwC - Tax Summaries - Greece
3. Independent Authority for Public Revenue (IAPR) - Inheritance Tax
4. Hellenic Republic - Greece in the USA - Wills and Inheritances
5. Euro News - Inheritance tax across Europe: How do the rules, rates and revenues vary?

Sources last checked on date: 21-Jul-2025