Buy - Sell property

The basic steps for the aquisition of property in Greece

1. The signing of a special power-of-attorney, pursuant to which the purchaser gives the power to the attorney to represent him/her as well as to carry out the required tasks in terms of the signing of the purchase/sale contract. The power-of attorney is signed in the Greek or English language, in the presence of an interpreter, who confirms with his/her signature the faithfulness of the translation. In case the purchaser is not in Greece, the power-of-attorney could be signed in the country of residence and be validated with the Apostille seal and, finally, sent to Greece.

2. The issuing of TIN number, pursuant to the aforementioned power-of-attorney.

3. Pay the expenses in which it is included the following amounts:
The transfer fee 3,09% of the purchase of the property
The Municipality fee 1,2%
The Legal fee 2,5% plus vat
The Notary’s fee 2,5% plus vat
The Land department registry 1,5%
The Realtor fee 2% plus vat

4. The Preparation of the Title deed by the Notary and the submission of the declarations to the competent Tax Office, which estimates and verifies the tax amount.

5. When the certificate registration fee is received from the Tax Office, then everything is ready for the sign of the purchase contract.

6. The signed purchase contract (which can be signed either by the purchaser or by the authorized attorney) present of the Public Notary.

7. The buying process is completed and the new owner must transfer the fund of the property to the seller’s bank account.

8. Transcription certificate of the contract is being issued and Act of payment.

Advantages of the Greek Legislation:

• Along with property title, the buyer acquires Title of ownership of the land where his property is located (land plot or land plot for agricultural use).
• The government doesn’t check the origin of foreign capitals, namely, whether any taxes have been charged and paid in the country of its origin.
• Signing of Particular Agreement entitles the Buyer and his family to Schengen Multiple entry visas valid for all Schengen countries. After the Principal agreement has been signed, they acquire the right to apply for a Greek residence permit also valid in any Schengen country.
• Low tax scale for property gifts and for property acquired as parent legacy.
• Third country (not European Union) nationals are allowed to buy property in Greece.
• Special Rules registered in the official Property Register apply to all apartments, houses and villas located within a housing estate.
• It should also be noted that Greek Property code, one of the oldest Property Codes in the world, is strictly observed in the country. It guarantees property insurance and validity of every Title transition contract which is recognized as a government act as well. European law provisions apply automatically in Greece, and they grant property owners quite a few advantages and privileges.