Ktimatoemporiki Real Estate

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WikiProperty Greece | The Market Leader Answering

Property Ownership

Is property ownership in Greece Freehold or leasehold?

All properties in Greece are 'freehold'.

How can I insure my property in Greece?

Property insurance is made regarding the features of the property. Insurance companies will present their offers when you give them the necessary information about your home. They will complete the insurance purchase after your confirmation of the price.

How will I pay my utility bills in Greece?

You can make automatic payment orders through your bank for your utility bills.

Can I rent out my property?

Yes, Greece offers good investment chances with a high return on investment. Ktimatoemporiki follows this process for its customers.

Permanent residence permit for investors (Property owners) – Golden Visa

What is the Golden Visa?

The Golden visa is a type of residence visa with added benefits, offered by several European countries including Greece. It is an investment scheme that ensures visa-free travel in the Schengen zone to non-European investors and their families. All non-European citizens are eligible to apply for a Golden Visa, provided the value of the property, as referred to in the contract of purchase, is at least 250.000€. This residence permit can be renewed every 5 years provided you are still the owner of the property.

Can I work if I get a Visa?

No, you can not. This residence permit does not give right to access to any type of employment. Employment in this case does not include the exercise of economic activity in the capacity of a shareholder or Chief Executive Officer of companies established before your application for this residence permit. This exemption for economic activity refers to third country citizens who are shareholders or managers of all forms of capital companies (S.A., Ltd, Private limited companies). The family members that have been granted this residence permit have also restricted access to employment.

Can I become a Greek citizen if I buy property in Greece?

7 years after the Permanent Residence Permit is issued, you are eligible for Greek Citizenship, under certain circumstances. Your lawyer will be able to assist you.

Do I have to buy one property worth 250.000€ or can it be multiple properties to cover the price for Greek citizenship by real estate investment?

There is not such a restriction. You can buy more than one property to cover a total of 250.000€ and the properties even can be in different cities.

I bought a plot of land and wish to construct a building. Am I eligible for a 'permanent residence permit for investment activity'?

Yes, you are. A third country citizen who purchased a plot of land and intends to construct a building, may apply for this residence permit, provided that the total value of the land purchased and the contract with the construction company is at least 250.000€.

Can I get Greek Golden Visa without visiting Greece?

No. If you send your power of attorney to a lawyer or someone you trust in Greece, your proxy can follow the process on your behalf but you have to visit Greece at least for once ('entry stamp' on the passport) within a reasonable period of time before the application for a residence permit is lodged. You also have the obligation to visit on appointment the Decentralized Authority, for the purpose of bio-metric data collection (digital facial images, two digital fingerprints and signature).

What if a legal entity is interested in buying property in Greece?

A third country citizen who has the full ownership, possession and occupancy of real estate property in Greece through a legal entity whose all stocks or corporate shares are fully owned by the applicant, has the right to apply for the 'permanent residence permit for investors'.

Is my current citizenship canceled when I become a Greek citizen by real estate investment?

No, Greek laws allow dual or multiple citizenship. It totally depends on your home country's laws.

As a holder of 'permanent residence permit for investor' may I apply for long-term residence status or citizenship?

Yes, you can. The third country citizen has the right to apply for the long-term resident status, provided they fulfill certain conditions. Having been granted the long-term residence status is a prerequisite in order to apply for Greek citizenship by naturalization, provided all other requirements are fulfilled.

Can I bring together with me my family members?

Yes, you can. Third country citizens may be accompanied by their family members to whom individual residence permits shall be issued following a relevant application, and is valid for as long as the sponsor's own permit is. Family members include: (a) the spouse, (b) the direct descendants of both spouses or of either spouse, who are under 21 years of age, (c) direct ascendants of the spouses. Descendants older than 21 and up to 24 years of age, are granted an independent residence permit.

I have a visa or a 'permanent residence permit for investor'. Do I have the right to travel to other EU countries?

Yes, you have. Due to the principle of equality between residence permits and long-term visas, all third country citizens holders of residence permits issued in one EU member state, or a long-term visa, enjoy the right of free movement within the Schengen area, which means that they are able to travel to other member states for up to 3 months within a 6 month period under the same conditions as those who are holders of residence permits. In addition, they have also the right to multiple entries in the country.

Search on Financial Issues

Do banks charge me when I open a bank account in Greece?

No, there is no cost of opening a bank account in Greece.

Is it time-consuming to open a bank account in Greece?

You can open a bank account within an hour, provided you have all the relevant documents.

Can someone withdraw money from my bank account with a power of attorney?

Yes. Banks accept POA for financial transactions in Greece. So, your proxy can withdraw money from your bank account by showing a valid power of attorney.

What are the costs associated with buying a property in Greece?

Property transfer tax, Land Registry or Cadastre fee, notary, lawyer and engineer fees, as well as real estate agency fees.

Can foreigners get mortgages from Greek banks?

Yes, foreign property buyers can get a mortgage in Greece.

Is it advantageous to get a mortgage in Greece?

It depends on the interest rates of the buyer's home country. If your residential country provides mortgage with lower interest rates, you can prefer getting the mortgage in your country for an overseas property purchase. You can also consider buying properties with an installment from construction companies.

Can I pay for the property by cheque?

In Greece, cheques are not accepted as a way of payment for real estate purchase. We only accept cash, bank transfer or bank checks which are equivalent to cash.

Search on Before Purchase

Can I get a tax number online in Greece?

No. You get it from the tax office only. Your proxy may provide this service for you.

What if I lose my tax ID number?

A tax number cannot be easily reprinted in Greece. However, it is very easy to find the number itself, which is written in several official tax documents.

How long can I use a tax ID number in Greece?

Tax numbers do not have a validation period in Greece. You can use your tax ID number throughout your life.

Are there any ongoing taxes?

There is an annual property tax.

During Purchase

What is the general buying process in Greece?

When buying process in Greece you will need the assistance of various professionals (lawyer, notary, accountant, engineer) so that all documents required are collected and a thorough legal and technical survey of the property to be transferred is carried out before its safe transfer to the buyer.

In case you are not in Greece while this procedure is taking place, you may sign a Power of Attorney before a notary in Greece or in your country (in such a case APOSTILLE is needed) or before the Greek Embassy or Consulate, where you give the authority to a third person, usually your lawyer, to act on your behalf and sign all the relevant documents for you.

You or your proxy must issue a Greek tax number from the Greek tax authorities as well as open a Greek bank account. Opening a Greek bank account is not compulsory but it is strongly suggested.

A preliminary contract made by the notary may be drawn up between the seller and the purchaser, where a deposit, usually of 10%, for reserving the property is given. This will give the details of the completion date, payment schedule and the terms & conditions.

The preliminary agreement may also be private, with different legal effects though. Your lawyer will advise you promptly.

The notary is the professional who draws up the final transfer contracts.

As soon as the notary confirms that all documents required for the property transfer have been delivered and that they are valid and correct, you pay the property transfer tax, which is 3% on the sale price + 3% on the result. After that, the notarial act of the property transfer is signed by both parties. The transfer of the property is completed as soon as an official copy of this notarial act is registered at the land registry or the cadastral office.

After purchasing your property in Greece, your accountant will have to declare your ownership at the tax authorities and you are required to annually complete a tax declaration.

On a new development, what is the average deposit required? Can I pay in installments?

This is a matter of agreement between the parties. Most developers offer stage payments (lump sum to be paid after each building stage) often with a degree of flexibility towards your circumstances. This will be agreed at the time of purchase.

What documents are required for title deed conveyance?

To complete the transfer of a property, the seller has to provide to the notary many documents, such as those certifying his property rights, the documents proving the absence of any debts to various authorities, which are defined accordingly (depending on the type of the property, its location, etc.). As a buyer, you only need your passport, a Greek tax number and the power of attorney if you are not present but represented by your lawyer or a third party.

How long does the title deed conveyance process take?

To complete the transfer of a property, the seller has to provide to the notary many documents, such as those certifying his property rights, the documents proving the absence of any debts to various authorities, which are defined accordingly (depending on the type of the property, its location, etc.). As a buyer, you only need your passport, a Greek tax number and the power of attorney if you are not present but represented by your lawyer or a third party.

Is it compulsory to have an interpreter to issue a power of attorney in Greece?

Since power of attorney is a serious decision that lets someone else act on your behalf and all documents are in the Greek language, it is an obligation to have a sworn interpreter to translate the information on the papers for you before you sign.

Can I give a power of attorney if I am not in Greece?

Yes, you can give a power of attorney at Greek embassies/Consulates in Greek. Also, notary offices in your country can prepare a power of attorney in your language. In such a case APOSTILLE is needed, if your country has signed the Hague Convention, and it has also have to be officially translated in Greek.

Do I need a residence permit to buy a property in Greece?

No. However, having a residence permit has some advantages and your lawyer helps you get your residence permit if you wish.

Can everybody sell property in Greece?

Yes. However, going through a professional company prevents from undesired results. Ktimatoemporiki is a registered real estate company at the Chamber of Commerce of Chania.

Can foreign companies buy property in Greece?

Yes. Your company can own a property in Greece.

Can my company establish an investment company in Greece?

Yes. We know that your company's money is not your money. If you like to invest in Greek property for business, your lawyer can help you to establish a Greek company or a branch of it. So you can easily invest your company's money in Greece.

Are there English speaking lawyers in Greece?

Yes, there are reputable English speaking lawyers. We can introduce them to you during your viewing trip.

After Purchase

When can I move into my property?

Your keys will be delivered on the title deed conveyance day.

Is there a property management service in Greece?

Yes, there are companies that provide property management services. Ktimatoemporiki offers such services.

How much is the property maintenance fee in Greece?

The maintenance fee varies depending on the complex features. When there are more facilities in the complex, maintenance fees can increase.

How can I furnish my new home?

Many developers or sellers offer furnishing packs. If you wish, you can buy a furnished property or we can recommend a place to buy. We will be more than happy to introduce you out partners. A furniture tour for your new home is one of our free after sale services.

What happens to my property when I die?

Since the properties you buy in Greece are freehold, if you do not leave a will, your family members inherit your properties after your death. Your lawyer may consult you on the options you have.

What are the costs when I want to resell my property?

If you wish to resell your property, you bear the fees of your lawyer, the real estate agency and your engineer.


Who prepares Ktimatoemporiki' sale agreements?

Our sales private preliminary agreements are prepared by our company lawyers or by the lawyer of your choice. The preliminary agreements may also be prepared by the notary, where the effects differ. Your lawyer will advise you promptly. The final sale contract is drawn up only by a notary.

Can I rely on the sales contract in case of any unexpected situation?

A tax number cannot be easily reprinted in Greece. However, it is very easy to find the number itself, which is written in several official tax documents.

What does the sales agreement include?

Anything and everything that both parties agree during the negotiation is written into the sales agreement.


What is TeleProperty?

Thanks to this method, customers will be able to buy a property in Greece without the necessity of coming to Greece in person. If you cannot travel due to some reasons but want to buy a property in Greece, you may contact Ktimatoemporiki for an appointment. You can join online viewing tours and examine properties in detail on your phone. TeleProperty can be used with visual communication channels such as Facetime, Skype, Whatsapp Video Call, etc.

Why should I use a real estate agent?

Going through an established company like Ktimatoemporiki Real Estate has several advantages: first, you will get to see a wide range of properties that match your criteria and not just one specific developer; second: you will have the benefit of our experience, as well as a fully staffed office to support you back home.

What other services do Ktimatoemporiki offer?

You can visit our Services pages for more information.

What is the Real Estate Agent Service fee?

Ktimatoemporiki's fee is 2% on the selling price plus 24% VAT. There is a minimum charge of €1,500 if the selling price is below €75,000.

Why should I take a viewing tour with Ktimatoemporiki?

Correct Property Match: There are a lot of property options on our website from lower- priced to ultra-luxurious properties. Best Price: The properties can be offered for sale at a bargain price in special times called 'Buy now'. Limited In Stock: The other negative aspect of the necessity of travelling arises when the property is limited in stock. There are many luxurious and high-quality properties offered at affordable or bargain prices, and they can be limited in stock. Needless to Travel: When the dream property is found, nobody wants to miss the opportunity because of the long distance between.