Tax · Freelancer · Car Loan · Mortgage
Greece uses a progressive income tax system where higher earners pay a greater percentage. The 2026 tax reform (Law 5246/2025) introduced significant changes including new brackets, youth tax discounts for workers under 30, and enhanced family benefits. Our calculator applies all current rates including EFKA social security contributions (13.37% for employees) and the solidarity levy.
If you started working after January 1, 2022, you're automatically enrolled in TEKA — Greece's new capitalized pension fund. Unlike the traditional pay-as-you-go system, your 3% supplementary pension contribution goes into a personal investment account, potentially offering better returns over your career.
Buying a car in Greece involves more than just the sticker price. Greek car loans (consumer credit) typically carry higher interest rates than mortgages, ranging from 9.76% for electric vehicles to 14.50% for standard personal loans. Our calculator factors in the mandatory Law 128/75 levy (0.6% annual), bank fees, registration costs, and annual running expenses including road tax and insurance.
Consider an electric or hybrid vehicle — beyond lower loan rates, you'll save €120-€780/year on road tax alone, plus Greek government subsidies of up to €8,000 for new EV purchases may still be available through the "Κινούμαι Ηλεκτρικά" program.
Buying property in Greece involves significant transaction costs beyond the mortgage itself. Transfer tax (3.09%), notary fees (~1% + 24% VAT), legal fees, and land registry charges can add 7-10% to your property's purchase price. Our calculator gives you the full picture — from monthly payments to total cost of ownership, including comparison with average prices per square meter across major Greek cities.
Check if you qualify for the Spiti Mou II government program — it offers interest rate subsidies and down payment support for buyers aged 25-50. You can use our Spiti Mou II calculator tab to check your eligibility and see how much you could save.
Spiti Mou II (Σπίτι μου ΙΙ) is the Greek government's flagship housing program designed to help young and middle-aged citizens purchase their first home. The program offers subsidized interest rates and down payment assistance, making homeownership more accessible. Our calculator helps you verify your eligibility and estimate exactly how much you'll save compared to a standard mortgage.
The Spiti Mou II program operates on a first-come, first-served basis with limited funding. Prepare all required documents (tax returns, ENFIA statements, bank pre-approval) in advance so you can apply quickly when new rounds open. Properties must have a valid energy performance certificate (ΠΕΑ).
Greece's freelancer tax system (ελεύθερος επαγγελματίας) works differently from salaried employment. Freelancers pay their own EFKA social security, choose between contribution categories, and face different tax brackets. This calculator helps you understand your true take-home income after all deductions — including income tax, solidarity levy, EFKA contributions, and the special prepayment of next year's tax (προκαταβολή φόρου).
New freelancers in Greece get a 50% discount on EFKA contributions for the first year and 25% for the second year. Start with Category 1 (€182/month) to minimize costs while building your business. You can upgrade your category later as your income grows.
📌 Assumptions: S&P 500 gross return 10%/yr, net 9.93% after 0.07% TER (iShares/Vanguard UCITS). Gold gross return 8%/yr, net 7.88% after 0.12% TER (Physical Gold ETC). Returns are nominal, not inflation-adjusted. Does not include broker fees or taxes. Past performance does not guarantee future results.
Whether you're saving for retirement, building wealth, or exploring alternatives to Greek bank deposits (which currently offer near-zero interest), understanding your investment options is crucial. This calculator compares two of the most popular long-term investment vehicles accessible to Greek investors through European UCITS ETFs — the S&P 500 (global equities) and physical gold — showing projected growth with compound interest over your chosen time horizon.
Start with regular monthly contributions (DCA — Dollar Cost Averaging) rather than trying to time the market. Even €100/month invested consistently in a low-cost S&P 500 ETF can grow significantly over 20-30 years thanks to compound interest. The earlier you start, the more powerful the compounding effect becomes.
⚠️ Disclaimer: This calculator is for informational purposes only and does not constitute financial, tax, or legal advice. Calculations are estimates based on publicly available information and may not reflect your specific situation. Always consult with qualified professionals (accountants, tax advisors, lawyers, bank representatives) before making financial decisions. Rates and regulations may change; verify current information with official sources (AADE, e-EFKA, banks).
Rates last updated: 31 January 2026