Tax Updates: July 30th 2025
Consistent with our commitment to provide updated information on current tax issues
Consistent with our commitment to provide updated information on current tax issues
Article Posted date
30 July 2025
1 min read
Tax incentives for Family offices - Amendment of article 71H of the Income Tax Code
The recent Law 5222/2025 introduced some important amendments concerning the Special Purpose Family Wealth Management Companies (“Family Offices”), enhancing the already offered tax incentives. We summarize below some of the most important changes introduced.
- The services that Family Offices can provide are extended. In addition to the management and administration of family assets and investments, Family Offices can now also offer advisory services to trustees of Trusts whose settlors or beneficiaries are the family members of such family offices.
- The minimum required annual operating expenditure is reduced. A Family Office must incur in Greece expenses of at least EUR 500 000 (instead of
EUR 1 000 000 as per the previous framework, which was considered significantly high). - Explicit exclusion from application of effective management rules (PoEM). It is explicitly provided that the provision of services by Greek Family Offices to foreign companies owned, directly or indirectly, by covered family members does not constitute the exercise of effective management in Greece. Therefore, the relevant provisions of Greek tax legislation (PoEM rules) that could attribute Greek tax residency to foreign entities under the “place of effective management” test do not apply to family offices.
