Greek laws authorize foreigners to own property in most areas of Greece. Restrictions apply only for Non European Union citizens who wish to purchase property in border areas as Crete. EU citizens can freely buy properties on Crete.
For non-EU citizens it will take about 3 months longer in general to take the permission. It is necessary for your lawyer and notary public to apply to the Department of the Interior of Greece and the office there will make the imperative investigation for your personality in the community and ensure that you do not have a history of any kind which might be detrimental to the security of the island, as it is considered a border territory.
In order to get the item legally registered under your name, apart from the sale/purchase price, you must pay 9% - 13% of the estimated value of the property as transfer tax (on the first €15000,00 the tax is 9% and on the remainder the tax is 11%-13%). In some cases, where there is no fire station in the area the tax begins lower than 7%. The assessed value for tax purposes is usually lower than the actual purchase price. The cost for lawyer, notary and registration fees are approximately 3,5%.
In Greece there are no annual taxes to be paid if the total value of the properties owned by the same couple does not exceed the "objective value" (value published by the government) of €487.160,00.. It is most likely that you will need to employ an accountant at the end of the tax year, to present a tax declaration for you in the proper manner, so should not have to pay an income related tax.
The property transaction is
always executed before a notary public and in the presence of lawyers
representing the seller and the purchaser. A purchaser needs a lawyer to
act on his/her behalf in order to assist with the Local Regulations to fix
the "assessed value" and ensure that he/she obtains a clean property
title. Before the transaction takes place, the lawyer representing the
purchaser carries out searches with the Land Registry and assures that the
property has a clean title.
If you have chosen to buy a plot of land in order to build, you have to know what is needed according to the Greek laws.
If the plot of land is not within the town plan and if there are no forest or archaeology restrictions, permission to build can be granted for any plot of minimum of 4,000m2. Permission can be granted for plots of land of 2,000m2 or less, if they are located within the planning zone or with frontage to principal municipal road. Inside villages, towns and cities planning permission can be generally granted for any plot. For some Greek areas there are specific Greek laws that apply about planning permission regulations.
We can recommend skilled architects, and engineers who will give advice, work on plans and carry out the procedure for building permission. Building permits can be obtained through registered architects or engineers in Greece and cost approximately 4% -5% of the total cost of the building.
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