PROPERTY ACQUISITION IN GREECE
Every investor and purchaser must follow some basic steps for a successful acquisition of property in Greece. Our company provides in his clients from all over the world a full package of services and solutions according to their needs. The legal department of our corporation can figure it out and support every kind of investment and project not only in Greece but in Europe and Balkans too. According to your interest in Greek properties and how u can purchase properties in Greece, we present you precisely all the steps and the legal procedure.
First of all, we start with the signing of a special power of Greek 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 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.
Every foreign purchaser must obtain a taxation number according to Greek law (VAT). The issuing of VAT No, pursuant to the aforementioned power-of-attorney.
Another step and critical issue is The opening of a bank account at the National Bank of Greece. Through the account is transferred the appropriate amount of money as the tax fee of the purchase and the value of the property.
The important issue about this procedure is the legal control of the property to competent Mortgage Registry or the Cadastral office in order to protect the purchaser. AFTER this, follows The collection of the appropriate documents by the attorney, in close consultation with the notary, which are necessary for the purchase (certificates, declarations, Urban certificates, tax certificates, certificates from the Archaeologist Service, Forestry and other Services.
We communicate, as legal department, with the clients about the evolution of the procedure and send via e-mail the expenses in which it is included the following amounts:
- A) The tax fee of the purchase of the property
In case of the purchase of a property by a private investor or a company- constructor: if the building permit is issued before 2006, the tax fee will be on 3,09% of the price, which will be written in the contract.
In case of the purchase of a property by a company-constructor: if the building permit is issued after 2006, the tax fee will be on 23% of the price, which will be written in the contract.
- B) The Attorney’s fee
- C) The Notary’s fee
- D) The price of the contract transcription to the competent Mortgage Registry.
The Final part starts with the Preparation of the transferred declarations by the Notary and the submission of the declarations to the competent Tax Office, which estimates and verifies the tax amount. When the certificate registration fee is received from the Tax Office, then everything is ready for the sign of the purchase contract. We used to send, 3-5 days before the signature of the contract, the translated one is sending via e-mail to the purchaser for approval.
The signed purchase contract (which can be signed either by the purchaser or by the authorized attorney) is sent to the competent Tax Office for the registration.
At the end, Transcription certificate of the contract is being issued.The process of the purchase is completed after the delivery of the complete file with the certified translated documents to the purchaser. Moreover the above documents are also held in the files of the Attorney and the Notary as well.