Notarial authorization
Drafting of a general power of attorney by a Greek notary and in the obligatory presence of an accredited
translator. On the basis of this notarial power of attorney, the authorized lawyer is given all the instructions and powers necessary for concluding the Main Contract for the sale and purchase of real estate,
so that the principal-buyer is not burdened with lengthy bureaucratic procedures.
01
Taxpayer Identification Number (AFM) Registration, Opening of a Bank Account and Legal Verification of Real Estate
The authorized attorney, acting on behalf of and representing the interests of the principal, registers the Taxpayer Identification Number (AFM) in the competent Greek Tax Offices and, together with the principal, opens a bank account in a Greek bank.
The authorized attorney conducts a detailed legal verification of the documents in the State Real Estate Registry
regarding a specific real estate property (for the presence of any encumbrances, liens, conducts the identification of Agreements, etc.). The verification reports, signed and certified by the same attorney, are transferred to the potential buyer.
02
Submitting a declaration through a lawyer
A declaration on the real estate transfer tax (RTT) is submitted to the tax office by an authorized lawyer. The RTT rate is currently set at 3.09% (instead of 10% as it was before
01.01.2014) for properties from a developer with a Construction Permit issued before 01.01.2006,
and 24% if the construction permit was issued after that date. If the properties are purchased from a private individual,
then the tax, regardless of the date of construction of the building, will be 3.09%. Payment of the tax of 24%
is suspended until 31.12.2022 (Article 6 of the VAT Code, Law 289/2000).
03
Registration of the purchase and sale agreement
Both parties sign the Main Purchase and Sale Agreement in the presence of a notary and a translator,
which is then registered by a lawyer in the Real Estate Register. This stage is the final,
integral and mandatory part of the execution of the Real Estate Purchase and Sale Agreement.
After signing the Main Agreement, the Buyer is given a full package of the above documents,
certified and translated into Russian, and also attached are the Construction Permit,
Energy Consumption Certificate, Property Plan and Topographic Plan.
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