Retiring in Greece: US Tax Guide for American Retirees

Greece is an attractive retirement destination for Americans, drawn by its Mediterranean lifestyle, lower cost of living, and the non-dom tax regime. Greece's worldwide income taxation creates unique US filing questions for retirees. FileAbroad helps American retirees in Greece navigate these cross-border questions.

Social Security Abroad

You can collect US Social Security benefits while living in Greece. The US-Greece totalization agreement coordinates benefits. Social Security is generally taxable only in the US under the US-Greece tax treaty.

Pension & Retirement Account Income

US pensions, IRAs, and 401(k) distributions are generally taxable only in the US. However, if you are a Greek tax resident, Greece may also tax this income. Greece's non-dom tax regime (€100,000 flat tax on foreign-source income for 15 years) may apply if you qualify.

FEIE Limitations for Retirees

FEIE does NOT apply to pension or Social Security income. Retirees must rely on FTC or other strategies. FTC may be available if Greece taxes your retirement income. Greece's high tax rates (up to 44%) make FTC valuable.

Medicare Abroad

Medicare does not cover healthcare outside the US. Retirees in Greece need private insurance or Greek public healthcare (EOPYY). Healthcare costs in Greece are moderate and quality is high.

Cost of Living & Housing

Greece has a lower cost of living than most Western European countries. Athens is more expensive than smaller cities and islands. Housing costs vary significantly by location.

Visa/Residency for Retirees

The financially independent person visa is the most common pathway for American retirees. It requires proof of sufficient income (approximately €2,000/month). It does not allow work in Greece.

Common Mistakes Retirees Make in Greece

1. Assuming FEIE covers retirement income — It does not.
2. Not reporting Greek bank accounts on FBAR — All foreign accounts are reportable.
3. Not planning for Medicare gap — Medicare doesn't cover you abroad.
4. Forgetting state tax — If you moved from California or New York, state tax residency rules may follow you.

When to Get Professional Help

You should consider professional help if you have retirement income from multiple sources, foreign accounts exceeding $10,000, property ownership in Greece, non-dom regime questions, or complex income situations.

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FileAbroad explains U.S. federal tax and U.S. international information-reporting consequences of documented foreign facts. It does not provide foreign-country legal or tax representation, valuation opinions, banking or remittance advice, or advice on what a foreign authority will accept.

Scope statement reviewed 2026-08-30 · FileAbroad product/content owner