Note from the webmaster: All links and information, unless otherwise noted as official, lead to general information that would be sent to you if you were to call The American Embassy in Athens, Greece, and request information. This page is not official, but is made by a private citizen, and covers issues not addressed in the official pages of the U.S. Embassy in Athens, Greece. This page is meant for your convenience, and although the pages ARE copied verbatim from non vital documents issued by the Embassy, is not to be taken as official. Thank You.
The Embassy advises Americans
to consult a lawyer for current legal information pertaining to the location
of property, ownership titles, taxed, etc.
Purchases in "Border Areas":
The
purchase of property or other property transactions by foreigners in certain
parts of Greece known legally as "Border Areas" (but which include may
islands and other areas further from the border) is prohibited by a series
of laws and their subsequent amendments. Persons or legal entities
of Greek nationality and of Greek origin including Cypriots as well as
persons or legal entities having the nationality of one of the countries
-- members of the European Communities, may apply for a waiver of the prohibition;
in their application they must state the purpose for which they plan to
use the real estate. The application is submitted to a committee
which is established at each Nomarcy. The committee consists of the
Nomarch, who is presiding, and a representative from each of the Ministries
of National Defense, National Economy, Public Order and Agriculture, respectively.
For persons or legal entities having the nationality of third countries,
a waiver of the restriction can be effected by decision of the Minister
of Defense. Property transfers which are contrary to law are invalid.
Establishment of ownership rights is not subject to restriction if the
property is claimed through inheritance.
A transfer
tax is assessed on the value of the property in accordance with the property
value tables established by the Ministry of Finance. In areas where
such tables have not yet been established, the property value is appraised
by the local tax authorities. The method of assessment may differ
depending on the type of transfer, i.e., purchase, donation, inheritance,
etc.
According
to Decision No. 393 of June 10, 1988 by the Bank of Greece, aliens (either
persons or legal entities) who are permanent residents of countries outside
the European Economic Community and who import just for the purpose of
purchasing or erecting buildings in Greece may re-export the proceeds of
the sale of such property, provided that:
Note:
If
both the buyer and the seller permanently reside outside Greece, a deed
of transfer can be executed before a Greek consul and the amount agreed
upon can be paid in foreign currency directly to the seller. As long
as the Greek consul is stated that neither contracting party is a permanent
resident of Greece, the transaction is legal and the approval of the Bank
of Greece is not required.
American Embassy
Athens, Greece
September, 1993