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Procedure

Property Buying Procedure

Buying property in Greece is for us an everyday procedure.

For anyone who tries alone, without serious professional support,it will surely be a bitter experience because of its complexity and the numerous legal details.

Our company may assist you throughout the process, which includes:

  • Search for the suitable property,
  • Legal Control and Advice,
  • Technical control,
  • Construction proposals on a budget,
  • Financial advice (investment proposals, economic privileges etc.)
  • Issue of tax registration number (AFM),
  • Process of contract (preparation, tax payment, notary deed, registration),
  • Property declaration to the tax authorities within a month (through accountant),
  • Implementationof Investment proposals,
  • Annual tax statement(real estate and income),
  • Design and implementation of the investment,
  • Property Construction,
  • Property Management.

Our experience is at your disposal.

Expences

The real estate market is burdened beyond the value of the property with some additional statement expenses, which by law are paid by the buyer

  • Purchase tax on the higher between the market and the objective value: 3%.
  • Real estate fees: 3% (including all taxes).
  • Notary costs and registration of the contract:upon agreement.
  • Legal services: upon agreement.

Per event further charges may occur for:

  •  Technical control,
  • Construction proposals on a budget,
  • Financial advice and accounting services,
  • Design and implementation of investment,
  • Property Constructions, and
  • Property Management.

Incentives

Greece is already on the ‘next day’.

Greece has made many significant corrective steps to overcome ‘yesterday’, and several important moves to pass on ‘tomorrow’.

In this context Greece offers noticeable incentives to new investments in many sectors, such as the Real Estate and Tourism market.

Specifically:

  • Reduction of purchase Tax from 10% to 3%.
  • Major investment in specific areas are identified as Strategic Investments, and benefit:
    • special acceleration of procedures by bypassing most normal procedure,
    • tax concessions of various forms,
    • “Ombudsman” for the immediate resolution of any issue,
    • residence permits to third-country nationals and the members of families of investment representatives and their collaborators,
  • Grants in new investments in various business sectors are periodically offered.
  • A residence permit is provided 5 (+ 5) years to third-country nationals and the members of their families, when they engage in real-estate market in Greece, or have entered into at least 10 years of timesharing, or 10-year rental of hotel accommodation or tourist furnished residences in complex tourist accommodation (condo hotels), the value of which exceeds the 250,000 euros. The license is extended for an additional 5 years if the property is still owned after the first five years.
  • Incentives are provided for the construction and operation of complex tourist accommodation (condo hotels).
  • The Public – Private Partnership, involved in infrastructure projects and public services, enable vital and profitable investment which will offer directly and positively on the quality of life in Greece.
  • Companies of special legal status operate in Greece, the Venture Capital Companies, which are cooperatives with a predefined time horizon which reach out to private equity funds and venture capital companies. The Venture Capital Companies provide amongst other:
    • fiscal transparency,
    • ability to foreign shareholders not to maintain a permanent Office in the country,
    • discount from the value added tax (VAT) of management fees in Greek companies,
    • Zero tax on profits from the sale of their shares, of stock rights (stock options), the founding and management contract, etc.

All these demonstrate a clear and outward-looking orientation of Greece in the economic field.

Here is where you participate.

Believe in Greece.
Invest in Greece.
Cooperate with Greece.