Family offices tend to favour jurisdictions that offer a reliable legal and regulatory framework, strong private wealth expertise and banking options, favourable tax conditions for both the family and their business operations, as well as suitable immigration and lifestyle opportunities.
Switzerland is noted for privacy, political stability, and sophisticated banking, with SFOs generally outside direct regulation. Singapore offers tax-exemption frameworks and residency pathways for SFOs, with incentives subject to approval and specific conditions. In the UAE (Dubai/Abu Dhabi; DIFC/ADGM), family offices have access to robust financial infrastructure and regional networks, although they may be classified as taxable entities under prevailing corporate regulations. Luxembourg provides strong EU structuring options and clear family office regulations.
Hong Kong attracts SFOs through tax exemptions and residency programs, while the UK offers a skilled workforce and a mature advisory industry. However, the recent abolition of the non-domiciled (“non-dom”) regime has impacted the UK’s appeal, as this change removes a significant tax advantage previously available to international families. Although there are still regulatory obligations and some potential exemptions for SFOs, the end of the non-dom regime has influenced family offices to reconsider the UK as a preferred jurisdiction.
Where Greece stands among classic hubs?
A thorough jurisdiction evaluation generally assesses locations based on several criteria, including professional services infrastructure, available talent, regulatory and legal frameworks, tax environment, immigration and visa policies, lifestyle and connectivity, overall reputation, as well as political and economic stability.
By the law 4778/2021 the concept of family offices was introduced in Greece. The gross income for Special Purpose Family Wealth Management Companies (“Family Offices”) is calculated by taking the sum of all their expenses and depreciation (excluding income tax), and then adding a profit margin. This profit margin is set at 7% using the cost-plus method.
The law 5222/2025 introduced some important amendments concerning the Special Purpose Family Wealth Management Companies (“Family Offices”), enhancing the already offered tax incentives.
Family offices in Greece can now serve non-Greek tax residents and their families; previously, this was restricted to Greek tax residents. This expanded access may encourage greater international cultural interaction and make Greece an appealing hub for families from diverse backgrounds worldwide.
Family offices are required to employ a minimum of five staff members in our country within twelve months of establishment and thereafter. Additionally, the minimum annual operating expenses requirement has been lowered from EUR 1,000,000 to EUR 500,000.
An important addition has been made so that the tax residence of foreign family – owned entities may not be challenged. Specifically, it is confirmed that the supply of services by the Family Office to foreign entities owned, directly or indirectly, by the individuals or their family members do not by themselves make those entities Greek tax residents or shift their place of effective management to Greece. This is a key clarification on PoEM (Place of Effective Management) thus tax residency considerations which makes Greece even more attractive.
The range of permitted services is widened beyond mere management/administration of assets to include advisory services to trustees of trusts whose settlors/beneficiaries are the relevant family members. Moreover the definition of “family members” is broadened, relaxing previous constraints linked to marital status or custody.
The 2025 updates let family members join the Non-Dom regime anytime within the 15-year period, instead of only at first application, making it easier for staggered relocations.
High-net-worth individual (HNWI) regimes operate alongside Golden Visa programs and other residence permits, and these options are increasingly promoted as an integrated package that includes relocation, Non-Dom status, and family office services. Greece now has a formalised family office system, offering a transparent tax framework—a cost-plus 7% structure—and explicit protection of Place of Effective Management (PoEM) for foreign family entities. Additionally, operational requirements have been relaxed compared to earlier versions, though genuine substance is still necessary, such as employing five staff members and meeting a minimum expenditure.
Coupled with the Non‑Dom regime and competitive real estate and relocation offerings, it is becoming an attractive regional choice for Mediterranean and Balkan families. However, its ecosystem has not yet reached the maturity found in Switzerland, Singapore, or the UAE.
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