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Legal Representation
To buy any property in Greece, you are required to have legal representation from
a local lawyer. Their job, along with a local notary , is to check that all land titles
are clear, to confirm any building permits are legal and in line with building
regulations and generally to look into any family history and ensure that there
will be no questions over ownership at a later date.
Banking and Tax Numbers
You will be required to obtain a Greek tax number and open a Greek bank
account, which you can do without any assistance. Alternatively, by giving your
lawyer power of attorney to do these things, it leaves you more time to spend
searching for your ideal property.
If you do not have your own lawyer or notary, we can if required recommend several,
the lawyer will advise you through each step right up to the day of purchase and
the contract is drawn up by the notary.
Buying an Older Property
There are advantages purchasing older properties and properties within the
villages, as land taxes are lower further away from the coast and the tax value
of older properties ( built before 1950 ) is always considerably lower.
Building and Restoration
For new building or external renovation work, permits will need to be applied for
and an architect needs to do this for you, there are several locally that we can
recommend.
Payments and Deposits
Having found the property of your choice, it is necessary to put down a holding
deposit with either your estate agent or your lawyer, never straight to an owner.
Once all necessary checks have been made, your lawyer will inform you of all final
costings. It will be necessary for this amount to be transferred into your bank
account here in Greece from your bank at home.
On withdrawal of this money, you or your lawyer will request a 'pink slip'. This is
proof that the money has been imported from outside of Greece and therefore
exempt from tax. If you fail to produce this for your end of year tax return, you
will be required to pay local tax rates on that amount.
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