If you’re considering buying property in Greece, understanding the correct procedure is essential. Whether you plan to invest, relocate, or obtain a Golden Visa, the process for foreign buyers includes specific legal steps you must follow. This guide explains everything you need to know to ensure a smooth and successful property purchase in Greece.
Step 1: Get a Greek Tax Number (AFM)
The first step in the property purchase process in Greece is obtaining an AFM (Tax Identification Number) from the local tax office. This number is mandatory for any financial transaction in the country and is often arranged with the help of a lawyer.
Step 2: Appoint a Lawyer to Represent You
Having a local lawyer who specializes in real estate is not just helpful—it’s strongly recommended. Your lawyer will conduct all necessary legal checks, verify property ownership, ensure there are no debts or legal issues, and represent you before notaries and tax authorities if needed.
Step 3: Open a Greek Bank Account
To complete the transaction, you’ll need a Greek bank account. Most buyers use it to transfer the purchase funds, pay taxes, and cover legal fees. In some cases, this step can be skipped if your lawyer is authorized to handle payments on your behalf.
Step 4: Sign the Preliminary Agreement (Optional)
In some cases, the buyer and seller sign a preliminary agreement that outlines the basic terms before the final contract. It is not legally required, but it offers some security and can include a deposit.
Step 5: Final Contract and Notary Signing
The purchase is finalized when both parties sign the Final Sale Contract at a notary office. The notary is a public official who ensures the legality of the transaction. At this point, the buyer must pay the full purchase price, the 3.09% transfer tax, and all legal/notary fees.
Step 6: Register the Property Title
After signing the contract, your lawyer will proceed with registering the property at the local Land Registry (or Cadastre if available). Once registered, you are officially recognized as the legal owner of the property in Greece.
Step 7: Declare Your Property for Tax Purposes
After the title is registered, the new owner must declare the property to the Greek tax authorities (through a platform called MyProperty). This ensures your ownership is properly recorded for annual property taxation (ENFIA) and income reporting if the property will be rented out.
Final Notes
- The entire process typically takes between 15 and 30 days, depending on the case.
- Foreign buyers are eligible for the Greek Golden Visa if the purchase is valued at €250,000 or more
- You can handle the entire process remotely by giving Power of Attorney to your lawyer.
Thinking of buying property in Greece?
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