EU countries without a wealth tax: 2026 guide for high-net-worth investors

A net wealth tax is an annual levy on an individual’s total worldwide assets, minus liabilities. The term is often used loosely, so it is important to distinguish a true net wealth tax from other asset-based taxes that may look similar but work differently.

What counts as a net wealth tax

A net wealth tax applies to the total value of a person’s worldwide assets, including cash, securities, real estate, and business interests, after deducting outstanding liabilities. Unlike capital gains tax, which arises only when an asset is sold, a net wealth tax is charged every year whether or not the assets generate income or any sale takes place.

The annual nature of net wealth tax makes it especially burdensome for high-net-worth individuals. An investor may hold illiquid assets, such as a private company, a real estate portfolio, or a family trust, and still face an annual cash obligation even without a liquidity event.

Several taxes in the EU are often mistaken for net wealth taxes, although they do not meet the official definition of the net wealth tax. Examples include France’s tax on real estate assets, Belgium’s tax on securities accounts, and the Netherlands’ tax on deemed returns from savings and investments.

Why most European countries abolished net wealth tax

Over the past three decades, most EU countries have moved away from net wealth tax because the levy produced limited revenue while creating significant economic distortions. The OECD found that in most countries where it applied, net wealth tax generated less than 1% of total tax revenue[1].

The shift can be seen in several national reforms:

1. Germany suspended the tax in 1997 after a Constitutional Court ruling on unequal valuation.
2. Sweden abolished its wealth tax in 2007 after concerns over capital flight. 
3. France narrowed the regime in 2018 in an effort to reduce capital outflows.

Wealthy individuals seeking residency by investment benefit from this broader EU shift, as more jurisdictions now combine tax efficiency with a stable legal basis for long-term residence.

Most European countries do not levy a net wealth tax. In many jurisdictions, its absence also coincides with favourable inheritance rules for direct family members and relatively moderate capital gains taxation.

Among countries where no wealth tax combined with no inheritance tax for direct family are Cyprus, Malta, Latvia, Portugal, Hungary, and Andorra. They also offer active residency by investment pathways, which makes them relevant for investors seeking both residence rights and long-term tax stability.

Several European countries combine the absence of a net wealth tax with residence by investment options. In all of these jurisdictions except Cyprus, residence also allows short-term travel across the Schengen Area for up to 90 days in any 180-day period.

Residence permits are issued for 2 to 10 years, with the option to renew them and later apply for permanent residency or citizenship. Family members can be included in the application, and some jurisdictions offer favourable inheritance tax treatment for direct family members.

Portugal

The Portugal Golden Visa is issued for 2 years and can be renewed. After 5 years, applicants may become eligible for permanent residence or Portuguese citizenship.

Investment requirements. To qualify for Portugal investment residency, individuals must choose one of the following options:

• support culture and heritage — €250,000+;
• purchase investment fund units — €500,000+;
• invest in research activities — €500,000+;
• establish a company and create at least 5 jobs — €500,000+;
• establish a company and create at least 10 jobs.

Taxes on wealth and inheritance. Portugal does not levy a net wealth tax. Inheritances between direct line relatives are exempt. In other cases, a 10% stamp duty applies[5].

Greece

The Greece Golden Visa is granted for 5 years, with the possibility of renewal. After this period, holders may qualify for long-term resident status, and after another 2 years, apply for citizenship.

Investment requirements. The Greece Golden Visa is available through one of the following options:

• real estate purchase — €250,000+ to €800,000+, depending on the property type and location;
• purchase of investment fund units — €350,000+;
• bank deposit — €500,000+;
• company establishment — €500,000+;
• purchase of government bonds — €800,000+.

Taxes on wealth and inheritance. Greece does not impose a net wealth tax. Inheritances received by lineal heirs are exempt up to €150,000. Amounts above this threshold are taxed at progressive rates of 1 to 10%. For more distant relatives, inheritance tax can reach up to 40%[6].

Malta

The Malta Permanent Residence Programme, MPRP, grants permanent residence for life, unlike standard Golden Visa routes. The residence card itself must still be renewed every 5 years.

Investment requirements. The MPRP is linked to real estate and also requires several additional payments. Applicants must fulfil the following mandatory conditions:

• rent residential property for 5 years at €14,000 or more per year, or buy property worth at least €375,000 plus at least €26,250 on fees;
• pay a government contribution of €37,000;
• pay an administrative fee of €60,000;
• make a donation of €2,000.

Taxes on wealth and inheritance. Malta does not levy a net wealth tax or inheritance tax.

Cyprus

Cyprus Permanent Residency, like Malta’s programme, grants lifelong residence from the outset. To keep the status, the holder must visit Cyprus at least once every 2 years. Citizenship may become available after 8 years of residence in Cyprus.

Investment requirements. The Cyprus Permanent Residency by Investment programme requires a minimum investment of €300,000+ under one of the following options:

• purchasing residential or commercial real estate;
• acquiring shares in Cypriot companies;
• investing in securities.

The applicant must also prove a stable annual income from abroad of at least €50,000.

Taxes on wealth and inheritance. Cyprus levies neither net wealth tax nor inheritance tax.

Italy

The Italy Golden Visa is granted for 2 years and can then be renewed for an additional 3 years. After 5 years, the holder may become eligible for permanent residence, and after another 5 years, for citizenship.

Investment requirements. Italy’s Investor Visa offers the following options:

• €250,000+ in an innovative Italian startup;
• €500,000+ in an Italian company;
• €1 million in a philanthropic project of public interest;
• €2 million in Italian government bonds. 

Taxes on wealth and inheritance. Italy does not levy a broad net wealth tax. However, individuals who become Italian tax residents may be subject to two asset-specific levies on foreign holdings:

1. Annual IVAFE of 0.2% on foreign financial assets. 
2. Annual IVIE of 1.06% on foreign real estate[7]. 

These levies do not qualify as a net wealth tax under the OECD definition, but for asset-rich investors they can have a similar practical effect.

For lineal relatives, inheritance is exempt up to €1 million per beneficiary. Amounts above this threshold are taxed at 4%. Transfers to other family members are taxed at 6% or 8%, depending on the degree of relationship[8].

Hungary

The Hungary Golden Visa stands out for its 10-year initial validity, longest among the Golden Visa programmes. The permit can be renewed once for another 10 years. Permanent residence may become available after 3 years, and citizenship after a further 8 years.

Investment requirements. Hungary’s Guest Investor programme offers two routes:

• purchase of investment fund units — €250,000;
• donation to a Hungarian higher education institution — €1 million.

Taxes on wealth and inheritance. Hungary does not levy a net wealth tax. Inheritances between lineal relatives are exempt. In other cases, inheritance tax is 18%, while a preferential 9% rate applies to residential property[9].

Latvia

The Latvia Golden Visa is granted for 5 years and can be renewed for the same period. After 5 years, the holder may become eligible for permanent residence, and after 10 years, for citizenship.

Investment requirements. Latvia offers one of the lowest investment thresholds among residence by investment programmes, with the following options:

• €50,000+ — investment in a business;
• €250,000+ — purchase of real estate;
• €280,000+ — opening a bank deposit.

Taxes on wealth and inheritance. Latvia does not levy a net wealth tax or inheritance tax.

Andorra

Andorra Residence Permit offers a renewable 2-year residence permit for ultra-high-net-worth individuals. Andorra is not an EU member state, but allows visa-free travel to neighbouring France and Spain.

Investment requirements. Andorra’s passive residence route requires a minimum investment of €1 million, either in real estate or in financial assets.

Taxes on wealth and inheritance. Andorra is a tax haven, levying no net wealth or inheritance tax. Besides, personal income tax is capped at 10%[10]. Capital gains are taxed at 10%, with exemptions available for certain long-held assets.

Several European countries still impose taxes on wealth, including Norway, Spain, and Switzerland. At the same time, France, Belgium, and the Netherlands apply other systems that do not amount to a classic net wealth tax but can still create a recurring tax burden.

Norway

Norway applies a progressive wealth tax on worldwide net assets for tax residents. The tax is charged at 1% on net wealth above NOK 1.9 million and 1.1% on wealth exceeding NOK 21.5 million[11]. Both the state and municipalities levy the tax, which raises the overall effective tax liability for individuals with substantial net assets.

Spain

Spain levies a regional wealth tax. Each autonomous community may approve its own scale, and where it does not, the state scale specified in Article 30 of Law 19/1991 applies[12].

Under the default state rules, each taxpayer receives a €700,000 personal allowance before the progressive tax scale applies. After deductions, the remaining taxable wealth is taxed at 0.2 to 3.5%, depending on the bracket:

• 0.2% — up to €167,129.45;
• 0.3% — €167,129.45—334,252.88;
• 0.5% — €334,252.88—668,499.75;
• 0.9% — €668,499.75—1,336,999.51;
• 1.3% — €1,336,999.51—2,673,999.01;
• 1.7% — €2,673,999.01—5,347,998.03;
• 2.1% — €5,347,998.03—10,695,996.06;
• 3.5% — above €10,695,996.06.

In addition, Spain introduced a solidarity surcharge at:

• 1.7% on net assets of €3,000,000—5,347,998;
• 2.1% on €5,347,998—10,695,996;
• 3.5% above €10,695,996[13].

Switzerland

Switzerland levies wealth taxes at the cantonal and municipal level rather than federally, applying them to worldwide assets minus debts for residents. Rates therefore vary significantly depending on the canton of residence.

For example, in low-tax cantons such as Nidwalden, the effective wealth tax rate is about 0.0665%, while qualifying shareholdings of at least 10% in corporations benefit from a reduced rate of 0.0532%[14]. Zug and Schwyz have effective rates of 0.27—0.37% at typical high-net-worth asset levels[15].

France

France replaced the former wealth tax with the Impôt sur la Fortune Immobilière, or IFI, which applies to the net taxable value of non-professional real estate assets after deducting eligible debts. A person becomes liable to IFI when the net taxable real estate portfolio exceeds €1.3 million. 

The tax is then charged on a progressive scale:

• 0% up to €800,000; 
• 0.5% between €800,001—1.3 million; 
• 0.7% between €1,300,001—2.57 million; 
• 1% between €2,570,001—5 million; 
• 1.25% between €5,000,001—10 million; 
• 1.5% above €10 million[16].

Belgium

Belgium has no net wealth tax but applies the Taxe sur les Comptes-Titres at 0.15% annually on securities accounts with an average annual value exceeding €1 million[17].

For an investor with a €5 million securities portfolio, this represents €7,500 per year — low in absolute terms but structurally significant as a recurring levy on wealth.

Netherlands

The Netherlands does not levy a standalone net wealth tax. Instead, Box 3 forms part of the personal income tax system and taxes a deemed return on savings and investments rather than actual total net worth[18].

Assets are split into three categories: bank deposits, other assets, and debts. Each category is assigned a fixed notional return based on its value on January 1st of the relevant tax year.

For 2026, the deemed return for other assets is set at 6%. The rates for bank deposits and debts had not yet been finalised.

The combined deemed return is then calculated on net assets above the personal exemption of €59,357 per person in 2026. That deemed income is taxed at a flat rate of 36%.

A Golden Visa does not by itself make the holder a tax resident of the destination country. In most cases, it grants the right to reside while imposing no stay requirement or only a minimal one.

Tax residency triggers

As most Golden Visa countries do not impose a general wealth tax, the main issue for investors is usually not wealth taxation itself, but tax residency and the treatment of specific assets.

Tax residency is usually triggered by physical presence of more than 183 days, as well as other connecting factors such as habitual abode or centre of vital interests. Cyprus also offers an alternative way to become its tax resident through its 60-day tax residency rule.

Special tax regimes

Several EU countries offer special tax regimes that may make residence more attractive for Golden Visa holders who choose to become tax resident.

In Portugal, the IFICI regime, a special tax framework available to new tax residents engaged in research and innovation, provides for a 20% flat tax on qualifying employment and self-employment income for 10 years[19]. For other taxpayers, personal income tax is levied at progressive rates of up to 48%[20].

Greece and Italy offer flat-tax regimes under which eligible individuals pay a fixed annual amount instead of personal income tax at the ordinary progressive rates, which reach 44% in Greece and 43% in Italy[21].

In Greece, the annual flat tax is €100,000 on foreign-source income[22]. In Italy, it is €300,000. In both countries, the regime may apply for up to 15 years[23].

The regime may also be extended to family members: in Greece, at €20,000 per person per year, and in Italy, at €50,000 per person per year.

Malta follows a different approach. It operates under the non-domiciled system rather than a fixed-term special regime. Under this system, tax applies to income arising in Malta and to foreign income only if it is remitted to Malta. Foreign capital gains remain outside the tax base even when remitted. This treatment is not limited to a set number of years[24].

Cyprus also offers a non-dom regime that may be particularly attractive to high-net-worth investors. Its main benefit is the exemption of dividend and interest income, which may apply for up to 17 years. After that, deemed domicile rules may apply if the individual has been a Cyprus tax resident for 17 out of 20 years[25].

European residency by investment can offer more than relocation rights: in countries without a wealth tax, it may also support capital preservation, business planning, and long-term wealth management.

1. Asset protection

Residency by investment in a European no-wealth-tax jurisdiction can protect capital against annual erosion. When a country does not tax unrealised asset value, investors do not need to fund tax liabilities simply because a portfolio, a company stake, or another asset has appreciated on paper. That matters most when wealth sits in assets that grow in value but do not generate immediate cash flow.

2. Better conditions for holding business-related assets

A no-wealth-tax residence in the EU can protect personal capital and support business activity. For example, Hungary offers the EU’s lowest corporate income tax rate at 9%, while Cyprus applies a competitive 15% rate[26].

Malta offers a different advantage: under its full imputation system, the headline 35% corporate tax can fall to an effective rate of about 5% on qualifying distributed trading profits after shareholder refunds[27]. 

Business potential is reinforced by strong sectors such as tourism: in 2025, nights spent in tourist accommodation across the EU reached a record 3.09 billion, with Malta and Latvia posting some of the fastest annual growth, while Italy and Greece ranked among the top destinations[28].

3. Strategic base for cross-border asset management

Residency by investment can also create a practical European base for structuring and managing international assets. Italy maintains one of the largest tax treaty networks in Europe, with more than 100 double tax agreements in force, while Hungary has more than 80 and Portugal is not far behind with 79[29]. 

Beyond tax planning, an EU base also offers logistical advantages, with major seaports and airport hubs supporting trade, travel, and regional access. Greece, Italy, Malta, and Portugal strengthen that advantage, as their ports rank among the 15 busiest container ports in the EU[30].

4. EU legal and financial stability

Residency in an EU jurisdiction provides access to a predictable legal environment, strong property rights protection, and highly regulated financial systems. This is measurable, not just descriptive: in the 2025 World Justice Project Rule of Law Index, Latvia ranked 21st globally, Portugal 29th, Cyprus 30th, Malta 31st, and Italy 34th out of 143 jurisdictions[31].

EU countries also benefit from the euro area’s common financial framework. For euro area members, a single currency removes intra-euro exchange-rate risk and supports trade and investment. The European Central Bank and national authorities jointly supervise banks under the Single Supervisory Mechanism.

5. Access to EU wealth management and private banking

Residency in EU countries can make it easier to establish and maintain banking relationships within Europe’s wealth-management market. The assets under management in Europe reached €33 trillion in 2024, almost 12% higher than in 2023. This figure is estimated to have risen to €34.4 trillion by the end of September 2025. Nearly 85% of this activity was concentrated in six countries, including Italy[32].

European private banks and wealth managers compete not only on investment results, but also on the breadth of support they provide. That support can include family office solutions, succession planning, discretionary portfolio management, digital wealth tools, and access to alternative investments.

Residence by investment in the EU can support tax planning, but for US and UK citizens the result depends on home-country rules as much as on the destination country. Even after obtaining a Golden Visa, investors still need to assess how their existing tax obligations continue to apply.

Tax considerations for US citizens

The US taxes its citizens on worldwide income and gains regardless of where they live. It also does not currently impose a federal net wealth tax. Moving to the EU no-wealth-tax country through a Golden Visa can reduce exposure to local wealth taxation, but it does not remove US federal tax filing duties.

Two reporting rules remain especially important for US citizens abroad:

1. FBAR applies when the aggregate value of foreign financial accounts exceeds $10,000 at any point during the calendar year[28]. 
2. FATCA may require the filing of Form 8938. For a single filer living abroad, the filing threshold is more than $200,000 on the last day of the tax year or more than $300,000 at any time during the year. These obligations continue even after the person becomes resident in the EU[29].

Choosing a no-wealth-tax EU country may improve the European side of the tax position, but it does not switch off US taxation. The benefit is usually more limited and more practical: depending on the facts, a US citizen may still reduce double taxation through the Foreign Earned Income Exclusion, foreign tax credits, and, where available, tax treaty relief.

The US maintains income tax treaties with over 60 countries, including Portugal, Greece, Malta, Cyprus, Italy, and Latvia[30]. Treaty relief reduces withholding on dividends, interest, and royalties but does not override FBAR and FATCA reporting obligations.

People considering giving up US citizenship or ending long-term green card status must take exit tax into consideration. The US may treat the person as having sold their worldwide assets on the day before expatriation and tax the deemed gain. This rule can apply to covered expatriates, including individuals:

• with net worth over $2 million;
• whose average annual US income tax liability for the previous 5 years exceeds the inflation-adjusted threshold;
• who cannot certify full US tax compliance for the previous 5 years[31].

Tax considerations for UK citizens

Inheritance tax. For UK nationals considering a Golden Visa, the main tax issue is usually inheritance tax, not wealth tax. The UK has no general net wealth tax, but it charges inheritance tax at 40% on estates above £325,000. An additional £175,000 allowance may apply when a main home passes to direct descendants. Both thresholds are frozen until April 2031, meaning they will not rise over time[32].

A Golden Visa does not by itself reduce UK tax exposure. However, investors who become tax resident abroad may benefit from living in a country that does not levy a general wealth tax.

UK non-dom regime. Recent UK tax reform is also relevant for relocation planning. From April 6th, 2025, the old non-dom regime and remittance basis no longer apply. They were replaced by a 4-year foreign income and gains regime for people who become UK tax resident after 10 tax years of non-UK residence. After those 4 years, foreign income and gains are taxed in the UK on the arising basis[33].

A move to a no-wealth-tax country through a Golden Visa may look straightforward on paper, yet in practice it requires careful attention to regulatory, tax, and investment risks.

Programme rule changes

Golden Visa rules and investment thresholds have tightened repeatedly across Europe. Greece is a clear example: what was once a single €250,000 real estate threshold has become a tiered system of €400,000 or €800,000 depending on the location, while the €250,000 option now survives only for specific conversion and restoration cases. Portugal shows the same pattern in a different form: the Golden Visa still exists, but the real estate route was removed in 2023.

Investors who rely on outdated figures may find that a chosen property no longer qualifies or that the required capital has risen. Checking the current legal framework and eligible investment categories before proceeding helps avoid planning around obsolete rules.

Additional costs

The headline investment threshold reflects only the minimum qualifying amount. In reality, the total cost of participation is higher. Additional expenses may include transfer taxes, notary fees, legal services, property agent commissions, government application charges, translations, apostilles, and property management costs.

Requesting a detailed cost breakdown covering acquisition expenses, government fees, and ongoing costs allows investors to compare options accurately and avoid underestimating the capital required.

Property eligibility and title risk

In some Golden Visa programmes, risk arises not only from the property’s legal status but also from its location and use. In Greece, the required minimum depends both on where the property is located and on whether it is a standard purchase or a conversion or renovation case. In Latvia, the qualifying property must be in Riga, Jurmala, or certain municipalities within roughly 50 km of Riga.

At the same time, the property itself may carry legal issues, such as encumbrances, unresolved inheritance claims, unregistered structures, or zoning irregularities. Renovation-category assets require extra checks, including planning permissions and compliance after works are completed. 

A property that seems suitable on price alone may therefore turn out to be ineligible or legally problematic. Independent legal Due Diligence, including a title search and review of planning documents, should always come before signing the purchase contract.

To reduce the risk, Immigrant Invest works only with verified properties that meet programme requirements and helps investors select an option that complies with all applicable criteria.

Delays and document expiry

Timelines depend partly on factors outside the applicant’s control, such as processing queues and biometrics appointments. Many documents are valid for only 3 to 6 months, so delays may mean obtaining them again, often with new apostilles and translations.

Preparing documents too early increases the risk of expiry, extra costs, and further delay, especially in family applications.

Mistaking residence for citizenship

A Golden Visa grants a renewable residence permit rather than citizenship. Naturalisation in EU countries requires meeting separate conditions, including several years of legal residence, integration requirements, and language proficiency.

Investors whose long-term objective is EU citizenship should evaluate the residence permit and naturalisation pathways together. Treating citizenship as an automatic continuation of the Golden Visa can lead to unrealistic expectations about timelines and eligibility.

Tax residency uncertainty

Several Golden Visa programmes do not require investors to reside in the host country. While this flexibility is often attractive, holding a residence permit does not automatically establish tax residency.

Tax residency depends on national rules, commonly involving physical presence thresholds such as the 183-day rule or other connecting factors like the centre of vital interests. Conversely, investors who spend substantial time in the destination country may unintentionally trigger tax residency.

Source-of-funds scrutiny

Golden Visa programmes require applicants to demonstrate the lawful origin of investment funds. Banks, notaries, and programme authorities conduct their own KYC and AML checks.

Applicants with complex financial histories — such as multi-jurisdictional assets, business-derived wealth, or inherited capital — may encounter additional scrutiny. Documentation accepted in the home country may not meet local banking standards.

Preparing a structured source-of-wealth documentation package that traces the origin of funds from the initial source to the final investment transaction can significantly reduce delays.

Overstated return expectations

Golden Visa routes may generate investment returns. For example, investors can receive rental income from property, capital appreciation when selling the asset, or returns from investment funds where such options exist. Promotional materials that cite expected yields or performance figures usually present estimates rather than guaranteed results.

Immigrant Invest is a licensed investment migration company that has worked in the industry since 2006. We bring together more than 70 certified professionals across 11 countries and have assisted over 10,000 clients with residence and citizenship solutions. 

For investors considering EU residence in no-wealth-tax countries, Immigrant Invest provides end-to-end support covering:

1. Preliminary Due Diligence before the application to identify possible risks.
2. Advice on choosing the most suitable country and investment route based on the client’s goals, family composition, budget, and timeline.
3. Full legal support throughout the application process in line with the current rules of each programme.
4. Document preparation, including tailored checklists, coordination of translations, notarisation and apostilles, as well as support with source-of-funds documentation for compliance and banking checks.
5. Assistance with real estate and other qualifying investment options, depending on the programme.
6. Application submission and support at each procedural stage until the residence permit card is issued.
7. Support with renewals and long-term planning related to maintaining residence status.

Immigrant Invest lawyers are regularly invited by leading media outlets to comment on investment migration developments, which reflects the company’s professional standing in the market.

1. Most European countries do not levy a net wealth tax. In Europe, general wealth taxes remain only in Spain, Norway, and Switzerland.
2. Italy, France, Belgium, and the Netherlands do not impose a net wealth tax as such but apply other taxes that may produce a similar effect in practice.
3. For investors, relocation to a no-wealth-tax country can be combined with other advantages, such as no inheritance tax, a favourable capital gains regime, or access to a special tax regime.
4. Residence by investment options are available in Portugal, Greece, Malta, Cyprus, Hungary, Italy, Latvia, and Andorra.
5. A Golden Visa does not automatically make the holder a tax resident. Tax residency is usually triggered by physical presence — typically 183 days in a year — and other ties such as a permanent home or centre of vital interests.

1. Source: OECD — The Role and Design of Net Wealth Taxes in the OECD
2. Source: PwC — Net wealth/worth tax rates
3. Source: PwC — Inheritance and gift tax rates
4. Source: PwC — Capital gains tax rates
5. Source: Government of Portugal — Tax Liability on the Transfer of Property Through Inheritance
6. Source: PwC — Greece: individual other taxes
7. Source: Agenzia delle Entrate — Base imponibile e aliquote: IVAFE and IVIE
8. Source: PwC — Italy: individual other taxes
9. Source: PwC — Hungary: individual other taxes
10. Source: Butlletí Oficial del Principat d’Andorra — Llei 5/2014 
11. Source: PwC — Norway: individual other taxes
12. Source: Boletín Oficial del Estad — Law 19/1991 on Wealth Tax
13. Source: Euronews — Wealth taxes in Europe
14. Source: Wealth Tax Commission — Wealth taxation in Switzerland
15. Source: TaxRep — Zug and Schwyz wealth tax rates
16. Source: French Government portal — Droits de succession: évaluation de la succession et calcul des droits
17. Source: Belgian Federal Public Service Finance — Taxe annuelle sur les comptes-titres
18. Source: PwC — Netherlands: individual other taxes
19. Source: Autoridade Tributária e Aduaneira — IFICI
20. Source: PwC — Personal income tax in Portugal
21. Source: PwC — Personal income tax in Greece and Italy
22. Source: Greek Independent Authority for Public Revenue — Tax incentives in order to attract new tax residents
23. Source: Agenzia Entrate — Neo residenti: Regime opzionale
24. Source: MTCA — The Remittance Basis of Taxation for Individuals under the Income Tax Act
25. Source: KPMG — Cyprus Tax Residency and Non-Dom rules
26. Source: PwC — Corporate tax rate in Hungary and Cyprus
27. Source: PwC — Corporate tax in Malta
28. Source: Eurostat — Tourism statistics and EU tourism nights at record 3.08 billion in 2025
29. Source: Double Tax Treaties in Italy, Portugal, and Hungary
30. Source: Port Economics — Top‑15 EU container ports, Q3 2025
31. Source: The World Justice Project Rule of Law Index 2025
32. Source: The European Fund and Asset Management Association — Asset management in Europe
33. Source: Financial Crimes Enforcement Network — Report of Foreign Bank and Financial Accounts
34. Source: IRS — Summary of FATCA reporting for U.S taxpayers
35. Source: IRS — United States income tax treaties
36. Source: IRS — Relief procedures for certain former citizens