Do I need a lawyer / solicitor to buy a property in Greece?
By law, you are not obliged to have legal representation.
No. Not a legal requirement. However it is highly advisable as solicitors carry out necessary legal property surveys and conduct a property title check going back over 20 years; they ensure the property is free of any mortgage notes, claims, expropriations, rights-of-way and, in general, any legal issues. In addition, solicitors ensure that all property taxes burdening the vendor have been paid.
Do I need a notary to buy a property in Greece?
Yes. A notary public is a government-appointed lawyer who processes and certifies all real estate transactions, including drawing up and reviewing all official documents, to ensure the legal transfer of the property.
Do I need an accountant when buying a property in Greece?
Yes. It is essential to hire an accountant early on to help you with tax returns and explain property taxation laws to you.
Do I need a land surveyor when buying a property in Greece?
Yes. Property Surveyors ensure that all acts associated with the construction of the property are based on lawful planning permissions.
Do I need a Tax Registry Number (AFM) in order to buy a property in Greece?
Yes. This tax number (AFM) is mandatory for all property buyers, including foreigners and permanent residents abroad. It is issued on the spot at tax offices, free of charge. All applicants must present their passport and their birth certificate. If you have granted your solicitor full Power of Attorney, he / she can apply for an AFM on your behalf.
What is a property’s Tax Assessed Value? (Antikimeniki)
The Tax Assessed Value is the estimated monetary value of a property according to the Greek tax authorities. As a general rule, a property’s Tax Assessed value is significantly lower than its purchase price. The property’s tax assessed value bears no relation to taxes paid. Transfer taxes are paid on the purchase price.
Do I need a Greek bank account?
Optional (however advised) . All necessary payments associated with the purchasing of the property will be made through this account. This account will also help prove that funds used for the property purchase have come into Greece from another country and are, therefore, not taxable in Greece. Opening a bank account in Greece is not a difficult process. All you need is your
- ID or passport and your
- AFM (tax number)
- Utility Bill indicating your current address.
- Phone Bill indicating your phone number
- Documents that indicate your income from abroad
- Proof of Profession
How much are closing costs?
Closing costs, including all fees and taxes, are an estimated up to 10-11% on top of the purchase price. We will be happy to give you further details upon request.