Greece woos diaspora with 50% tax cut, new digital platform

The Greek government has launched a new digital platform to make it easier for Greeks living abroad to apply for a 50% income tax break if they return to the country, Labor Minister Niki Kerameus has announced.

The initiative is a key part of Greece's strategy to reverse the "brain drain" that occurred during the decade-long financial crisis by attracting skilled professionals and entrepreneurs back home.

"This is another important step in facilitating the return of Greeks from abroad!" Ms. Kerameus said in a social media post.

To be eligible for the tax reduction, which applies for up to seven years, applicants must not have been a tax resident of Greece for five of the previous six years and must commit to residing in the country for at least two years.