Buying Your Home in Greece

Lawyer

A good, English speaking, well-qualified conveyance solicitor is absolutely essential. Checks the seller has rightful clean title, free of mortage and properly sub-divided between the family with a topographical survey to the land being sold. Check first before paying deposit. Usually a lawyer has a partner Public Notary needed in Greek law.

The agent will inform the lawyer who owns the land(s) adjoining yours. A topographical survey by an expert will be provided to the lawyer and can cost in the region of €150 (2009). Check access from road to land behind yours with your lawyer/agent. You need minimum 4,000m2 land outside town/village boundaries to build up to 200m2 house/garage on land 25m in from your boundaries. You cannot build within 150m from the high tide mark of the sea front. Land 6,000m2 cannot be sub-divided as the extra 2,000m2 cannot be built upon in law so remains just your garden.

Your lawyer can assist you in gaining your Tax number (A.F.M. – pronounced aa – fee - mee).

An AFM number is required to buy a car or motorcycle, to rent or buy property. The local Greek Tax Office (Eforia) is the place this is done. Documents usually required to obtain a Tax number (A.F.M) are:

passport and a photocopy of passport

birth certificate and a photocopy of birth certificate

marriage certificate if married

You need an A.F.M. to open your Euro Bank Account in bank in Greece.

Public Notary

The first stage in the conveyancing is to sign a Sales Agreement and pay a deposit - usually 10 per cent - using the Greek bible as the swearing oath. The notary public works with your lawyer to ensure that the contracts are drawn up in an orderly fashion and presented to the taxation authorities on time. This agreement contains the names of the parties, a description of the property, the price, the method of payment and any special conditions negotiable in the purchase process. Under Greek law, no contract is enforceable unless it is in writing. You will normally be expected to pay a fee of the 'notional value' of the property as recorded in the Contract of Sale.

Accountant - Bi-Lingual

Tax Returns

Once you have an AFM (Tax) number, you are registered with the Greek authorities and are required to submit a yearly tax return in Greece (Form E1) regardless of income, i.e. even if it is a nil return.

Property owners must also file a property declaration (Form E9) yearly. The tax year runs from January to December in Greece. Tax returns are due between February and May of the following year. Your accountant will do this for you.

Do not be tempted to avoid this in today's Greece where inspection is detailed.