Greece has launched a new tax regime to attract hedge funds and private equity firms, offering a 5 per cent tax on bonuses and carried interest for qualifying executives who relocate, down from the standard 15 per cent. The initiative, developed after consultations with fund managers, aims to counter competition from the UK, Switzerland, and the Gulf. A major milestone was the relocation of billionaire hedge fund manager Chris Rokos from the UK to Greece, following months of courting by adviser Vasilis Karatzas and finance minister Kyriakos Pierrakakis.

Rokos joins other high-net-worth individuals leaving the UK due to fiscal tightening and the end of 'non-dom' benefits. Greece also offers a flat €100,000 annual tax on foreign gains for wealthy residents and exempts foreign assets from inheritance tax. To prevent nominal presence, firms must spend at least €3 million annually on local operations.

Rokos Capital Management is expected to begin with a small team in Athens, potentially growing to 50 people. The government emphasizes genuine business setup, stating, 'Either you come properly or you don’t come at all.'.