Greek law stipulates that all income in Greece is taxable in Greece, regardless of whether the recipient is a Greek tax resident or a foreign tax resident in Greece. However, Greek authorities are encouraging foreign investment in the country as part of their efforts to overcome the economic crisis that Greece experienced in 2009, which still affects the country. Therefore, as of now, privately owned real estate assets are not required to pay capital gains tax. As part of Greece's lenient tax policy, the Greek legislature has suspended the application of capital gains tax for those who own up to 3 real estate properties in the country. Those who own more than 3 properties will be considered commercial property owners, and capital gains tax will apply to all their properties.
Additionally, current Greek legislation states that up to 3 transactions can be made within two years without paying tax. For example, one can purchase a property, sell a property, and purchase another property within two years without paying tax. Israelis benefit from this and can conduct 3 transactions within two years without needing to pay tax in Greece or Israel.
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