Greece to offer tax incentives in bid to lure rich foreigners

Greece will offer tax incentives to lure wealthy individuals to move their tax residence to the country as part of draft legislation on tax relief set to be announced on Thursday, a senior government official said.

Greece's conservative government is keen on attracting investments to boost the recovering economy's growth prospects.

Tax relief included in the draft legislation will include a cut in the corporate tax rate to 24% from 28% and lowering the tax rate on dividends to 5% from 10%.

The so-called non-dom programme will offer qualified wealthy investors who opt to shift their tax residence to the country a flat tax of 100,000 euros ($110,710) on global incomes earned outside Greece annually.

"The tax incentive will run for a duration of up to 15-years and will include the benefit of no inheritance tax for assets outside Greece," a senior government...