FAQ

Yes, foreigners, including non-EU citizens, can buy property in Greece. However, there might be some restrictions in certain border areas, where special permission is required.

Properties in Greece range from apartments and villas to traditional stone houses, plots of land, and commercial real estate.

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The price we offer includes legal services and assistance with all matters related to regulation in Greece and handling bureaucracy in Greece. Our service provides comprehensive and professional assistance

Yes, both Greek and foreign banks offer mortgages to purchase property in Greece. However, the terms and conditions can vary, and a good credit score is essential.

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When the seller and buyer have agreed on the purchase price, the seller must transfer the title (deed of purchase, deed of gift or inheritance etc.) of the property to the buyer. The buyer should hire a lawyer, preferably one with whom he can communicate in a language he understands, and hand him the title deeds so that he can check their authenticity with a competent mortgage register.

The examination of the title deeds is essential and must be carried out with due care. After all, it is the legal foundation of your home. The examination includes a check of the legitimacy of the titles and the existence of any liens on the property with the competent mortgage registry. This examination must cover a period of at least 20 years (due to prescription periods). Moreover any possible pre existing liens should also be checked and, finally, the search will also tell the buyer if there are any claims on the property by third parties.

After the title deeds have been checked and found to be in order, a notary is appointed by the buyer. Based on the existing title deed and the details of the contracting parties (for the buyer, the details of the proof of identity and a Greek tax number are sufficient), the notary draws up a draft deed of purchase and calculates the amount of taxes and other costs. The buyer (or his lawyer) pays the taxes before the deed is executed and submits a proof of payment to the notary, which is attached to the deed.

After signing the deed, the notary hands over a copy of the deed to the buyer’s lawyer. The latter then ensures that this copy is filed (‘transferred’) with the mortgage register. From this moment, i.e. as soon as the deed is entered in the public registers held by the local mortgage register, the purchaser is also formally the legal owner of the property.

Property tax was introduced in Greece a few years ago and is calculated based on the size of the house and the plot.

For houses, this tax is calculated based on the size and location of the house and the plot the house stands on. For most (vacation) homes this tax is 3 to 4 euros per square meter built (for a house of about 100 sqm you thus pay 300 to 400 euros in annual property tax). The annual assessment for this tax (ENFIA is the Greek abbreviation) can be downloaded online from the website of the Greek tax authorities. You must have a username and password, which must be requested from the tax authorities. The representative who arranges your tax affairs in Greece (usually an accountant) will have these login details or can request them for you.

A Greek bank account is not a requirement. However, the Greek tax authorities must be provided with transparency regarding the origin of the funds required. If you are unable to prove the origin of the money, you run the risk that the Greek tax authorities will consider the amount of the purchase price and the transfer costs as income acquired in Greece and levy income tax on it! We will show you the way so that this happens according to law.

A bank account in Greece can be useful once you own a house in Greece, for example to pay the energy bill by automatic direct debit.

In order to open a Greek bank account, you will need to deposit a number of documents with the bank, based on European directives. Most banks require the following information:

Greek Tax Number (AFM) / Copy proof of identity / Proof of your home address, e.g. an extract from the civil registry or a utility bill (electricity, water, telephone) / Employer’s declaration or extract Chamber of Commerce / Tax assessment

In the past, it was possible to have a bank account opened by proxy. This is no longer possible at European level in the context of the fight against money laundering. As a result, the personal presence of the account holder(s) is required when opening a bank account.

Yes. The tax number (AFM) is mandatory for all (legal) persons who want to buy real estate in Greece, regardless of nationality.

The procedure for obtaining it is quite simple. A tax number is issued free of charge by the tax authorities on presentation of a valid identity document and after completing a special application form.

If you have given us a power of attorney we can apply for the tax number on your behalf.

The role of the Greek notary in real estate transactions differs substantially from the role of, for example, a Dutch and Belgian notary. It is not the task of the Greek notary to receive the purchase sum, pay the seller and the real estate agent, nor to pay taxes or take care of the land registration. He is only a representative of the Greek state who ensures that the transaction takes place as required by Greek law.
He advises the parties concerned, maintains the public real estate registers, calculates the taxes, passes the deed and provides the official copies to the parties. His role is thus more coordinating than executive. All the ‘work in progress’ is in practice done by the buyer’s lawyer.

European Regulation 650/2012 provides that the law applicable to succession matters is the law of the country in which the testator had his/her habitual residence at the time of death. This habitual residence is determined on a case-by-case basis, taking into account all the circumstances. To give a common practical example: In the case of a Dutch or Belgian national who has a close and permanent connection with his/her country of origin (home / work / center of social and family ties) and owns a house in Greece where he/she spends several months per year, Dutch or Belgian law respectively applies.

In addition, Art. 28 of the Greek Civil Code stipulates that the law of the country of nationality of the testator at the time of death applies to inheritance matters. In practical terms, this means that even if for some reason Greek law should be applicable, the Greek Civil Code refers back to the substantive application of the law of the testator’s nationality. The notarial and cadastral settlement does take place in Greece.

It is of course also possible to make a choice of law through a will. In that case, one stipulates that the law of the country of his/her nationality applies.

The acceptance of the Greek inheritance has to be made through a Greek notary and registered in the Greek land register. This is also something you can contact Elxis for.