Amendment passed allowing relatives of politicians to hold shares in offshore companies
The change significantly eases restrictions that had been in place since 2016.
Under the new regulation, spouses and children of party leaders, members of parliament, party treasurers, ministers, and deputy ministers are now permitted to hold shares in foreign companies, including those with links to offshore entities, provided these companies are based in countries with which Greece maintains tax cooperation agreements.
The amendment continues to ban direct ownership of offshore companies by elected officials. However, critics argue that the measure is largely symbolic, as it still allows for indirect involvement through relatives and corporate partnerships.
The revised legislation also allows the ownership of companies in federated states or jurisdictions with distinct internal tax regimes, provided those regions are considered tax-cooperative with Greece.
During the parliamentary session, Justice Minister Giorgos Floridis defended the government's decision, stating:
“This amendment aims to protect politicians by excluding them from offshore structures. It introduces transparency and clarifies vague terms. Politicians themselves remain fully excluded, while their families are only allowed to participate in foreign entities located in tax-cooperative countries — not in tax havens.”
The change has drawn sharp criticism from opposition parties and civil society groups, who see it as a loophole that undermines efforts to combat corruption and ensure financial transparency among public officials and their families.
Source: Paratiritis News
