Amalia G. Makrydaki
Attorney at law

16 Dimitrakaki, Rethymno
+30 28310 23097
+30 6972 553408
+30 28310 23097

Buying a Property in Greece


The presence of a lawyer is considered determinative for the purchase of real estate in Greece. The lawyer can make the following necessary acts for the client:


The appointment of a lawyer is done through a notarial document, that is called power of attorney. With this document the lawyer can represent the buyer in the whole purchase procedure and make any necessary act on his/her behalf (for example open a Greek bank account, issue a Tax Registration Number, pay the price and sign the purchase contract).

This power of attorney, if the buyer is in Greece, is composed in Greek language before a Greek notary, with the presence of a translator. In the case the buyer is not in Greece, there are the following options:


Each foreign person who wants to purchase real estate in Greece and has no income in Greece, has to transfer the purchase price and the legal expenses for the purchase (taxes, notary’s fees etc) from his/her bank account outside of Greece to a Greek bank account which is opened in his/her name. The year following the purchase, the purchaser with the assistance of an accountant, needs to submit to the Greek Tax Authorities a tax declaration and declare the ownership of the real estate and prove where he/she earned the money for the purchase. For this reason, along with the tax declaration there is submitted a certificate issued from the Greek Bank of the purchaser that proves that the purchase price and the legal expenses were transferred legally from the foreign country into Greece.

For the opening of a Greek bank account it is necessary to provide the bank with a copy of the passport, some personal information (address, place and date of birth, profession etc), a document which proves the permanent residence of the buyer such as an electricity bill, water bill or gas bill. If the buyer already has a Greek Tax Number the relevant certificate from the Greek Tax Authorities. A copy of a recent Tax declaration issued by the Tax Authorities of the home country.


After the buyer finds the Real Estate he likes, a deposit is paid to the seller to remove the property from the market. This ensures that the seller is formally bound to complete the deal and the buyer is assured of being able to buy the property at the agreed price. This procedure his handled through the lawyer and with a legally binding document. As the formalities relating to the properties sometimes take time, it makes both parties secure.


A few days after the signing of the purchase contract, the notary prepares an official copy and a summary of it, gives them to the lawyer and the lawyer submits them to the competent Land Registry / Cadastral Office in order to be registered. After the purchase contract is registered, the buyer is considered as the official owner of the property.


Every buyer, in the year following the purchase of a property, is obliged to submit a tax declaration to the relevant Greek Tax Office and declare the purchase. Annually the owner has to submit a tax declaration even if no money is earned in Greece. Unless this is one’s primary residence and one pays tax in Greece, the buyer has to prove that the money for the purchase was brought into Greece in order to avoid paying taxes and penalties. A certificate from the Greek bank of the buyer, which proves the funds were imported into Greece, must be also submitted along with the Tax Return.


We recommend to our foreign clients who own property in Greece to make a testament (will) according to the procedure of the Greek For foreign persons, the inheritance law of their country applies, but the procedure of accepting the property located in Greece (real estate, balance of bank account, car etc) should be made according to the Greek Inheritance Law Procedure.

If the deceased has made a will in his own country or has no will at all, then the procedure of acceptance of the inheritance of the Greek property is quite complicated for the heirs. The simplest way, to avoid bureaucracy, is to make a will before a Greek notary. There are two types of wills and we would be happy to discuss and advise you which is best suited for your particular needs.


Official translations in Greece, that are accepted by the Public Authorities, can be made

Our office realizes official translations from Greek to English, German and Italian and vice versa.