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ThonRetire

Head to head · verified July 2026

Greece vs Italy

Italy scores 2 points higher on our balanced view — but that gap is small enough that your own priorities can flip it. The breakdowns below show exactly where each one earns and loses.

Everyday street scene in Greece

GreeceGreece

Mediterranean

77/100

Greece's 7% flat tax is the broadest deal in Europe — it covers all foreign income, not just pensions, for fifteen years. The entry bar is the highest of the Mediterranean set (€3,500/mo or €126k banked) and you must actually live there — 183 days — to keep it. Elderly-care units license under Ν. 2345/1995 — silence can approve; no public list of licensed units was opened. Cheaper than Spain or Italy, with freehold property open to foreigners.

Full Greece guide
Everyday street scene in Italy

ItalyItaly

Western Europe

79/100

Italy's 7% flat-tax deal is the romantic's bargain: all foreign income, ten years, in exchange for living in a southern town under 30,000 people. The SSN healthcare buy-in (~€2k/yr) is world-class, and the EU permanent-residency clock runs at five years. Residential-facility accreditation sits with the Regions; a national FAR monitoring system is not a public name register — Italy stays unchecked here. The consulate decides your Elective Residence visa at its own discretion — real applications get refused, so over-prepare the file.

Full Italy guide

Side by side

Greece compared with Italy
CriterionGreeceItaly
Visa & Residency
Retirement visaFIP Visa verifyingElective Residence verifying
Minimum ageNone (18+) verifyingNone — passive income is the gate verifying
Min income / assets€3,500/mo or €126k verifying~€31k/yr passive verifying
Visa processing time~10d visa; permit 2–4 mo2–4 mo — discretionary consulate
Path to permanent residency5 yrs verifying5 yrs verifying
Path to citizenship7 yrs + Greek language exam verifying10 yrs + B1 Italian — slow but real verifying
Tax
Tax-residency threshold183 days or vital interests183 days or registered residence
Tax on foreign pension7% verifying7% verifying
Capital gains tax7% under regime; else 15% verifying26% standard; 7% under flat regime verifying
Inheritance / estate tax1–10% (low for close kin)4–8% + forced heirship
Annual property taxENFIA — few hundred €/yr verifyingIMU ~0.46–1.06% (primary non-luxury home exempt) verifying
Finance & Property
Foreign property ownershipYesYes
Deposit / bond required€3,500/mo income or €126k deposit verifyingNone — income/savings proof only verifying
Forced-heirship rulesForced heirship; will can elect AU lawForced heirship — but AU law electable by will (Brussels IV)
Cost to establish residency~€2–4k (€1k permit + legal) verifying~$2.5–6k incl. lawyer verifying
Living
Cost of living22002400
Healthcare quality7.98.6
Safety7.87.9
Logistics
Flight time from Australia2524
Health insurance requiredYes verifyingYes — private cover ≥€30k/yr for visa verifying
Visa renewal ease3-yr permit; needs 183 d/yr stay verifyingAnnual permesso early yrs — questura queues verifying
Provision for dependentsYes — +20% spouse income verifyingSpouse OK — couple bar ~€38k/yr verifying

Showing the open fields. 17 more criteria — tax-residency day counts, capital gains, forced heirship, setup costs and processing times — need a free Thon account. Sign in to see the full table.

Why Greece scores 77

77/100

Why this number

Every point is accounted for. Nothing is hidden in a weighting you cannot see.

  1. Base country quality81Greece scores 81/100 before anything about you is applied — visa system, tax regime, healthcare, safety and property rights.
  2. Australian passport-4Worse than average for Australian retirees: No AU treaty; long flight
  3. Best fit for you77A decision aid, not a prediction. Two people with the same passport can rank these differently — that is the point of showing the working.
  • No double-tax treaty — Greece has no tax treaty in force with Australia — the same income can be taxed twice unless you structure around it.

Why Italy scores 79

79/100

Why this number

Every point is accounted for. Nothing is hidden in a weighting you cannot see.

  1. Base country quality80Italy scores 80/100 before anything about you is applied — visa system, tax regime, healthcare, safety and property rights.
  2. Australian passport-1Worse than average for Australian retirees: Long flight; bureaucracy
  3. Best fit for you79A decision aid, not a prediction. Two people with the same passport can rank these differently — that is the point of showing the working.