Why invest in Greece

To choose Greece is to choose an exciting country, in the south east Coast of Europe, to invest and buy high quality services and products. It is also the choice for a privileged, geographically strategic location, ideal for those seeking to supply the European market or expand their businesses to other parts of the world. As a member of the EU and the Eurozone, Greece offers access to high-growth and emerging regional markets, being an excellent gateway -without any trade barriers- to more than 140 million consumers in Southeast Europe and the Eastern Mediterranean.

Greece has become a favorable investment destination in the last few years, mainly because of its natural beauty, mild climate and geographical position, but also because of a significant drop in prices following the financial crisis that emerged after 2010. Investors from all over the world especially from China are now looking at Greece as the new “hot” investment destination and rushing to benefit from the abundance of quality real estate available at affordable pricing. Many buy as end users and others with the aim of letting.

Greece is a European Union member-state governed by the rule of law. It is also a member of the eurozone, enjoying all the benefits that derive from sharing the common currency without risks of devaluation or inflation volatility. The laws pertaining to the acquisition and ownership of real estate are provided by the Hellenic Constitution and the Civil Code. Most properties in Greece are freehold.

The success of a project is also shaped by the quality of its human resources. Greece has a highly skilled and talented workforce available fully meeting today’s needs to achieve long term business success. Moreover, labour costs are highly competitive within the E.U.

Greece is not only a good country to invest but also a desirable place to live. Sunshine that brightens most of the days through the year helps people feel motivated and productive.

Despite the economic crisis that the country is currently facing, efforts to improve public finances and apply crucial economic reforms are under way. The country is striving to use the crisis as an opportunity to boost its economy by applying a new viable model of development. Attracting foreign investment is considered a key to overcome the crisis. Providing the best possible environment for foreign investment is viewed as a top priority with a view to attract market-leading companies and dynamic entrepreneurs, creating thus associated jobs and stimulate the national economy.

Investment at properties

Greece has become a favorable investment destination in the last few years, mainly because of its natural beauty, mild climate and geographical position, but also because of a significant drop in prices following the financial crisis that emerged after 2010. Investors from all over the world are now looking at Greece as the new “hot” investment destination and rushing to benefit from the abundance of quality real estate available at affordable pricing. Many buy as end users and others with the aim of letting.

Greece is a European Union member-state governed by the rule of law. It is also a member of the eurozone, enjoying all the benefits that derive from sharing the common currency without risks of devaluation or inflation volatility. The laws pertaining to the acquisition and ownership of real estate are provided by the Hellenic Constitution and the Civil Code. Most properties in Greece are freehold.

Fees

1. Purchase – Transfer Tax

Greek property purchases are subject to taxation. The purchase-transfer tax is levied based on the “assessed tax value” of the property not at “ objective tax value” , or the sale price, if higher. Who pays: BUYER

Purchase contracts may only be signed and authorized if this tax has been paid and proof of payment submitted to the Notary. Buildings with permits issued after January 2006 from a contractor, are subject to significantly higher taxation.

2. Registration Fees

Once the purchase-contract deed has been signed, it must be registered with the Hellenic Cadastre and/or the Mortgage Registry, depending on the location of the property. Registration fees again are levied based on the “assessed tax value” of the property or the sale price, if higher. Who pays: BUYER

A purchaser does not obtain full ownership rights until the property is registered and fees are paid.

3. Notary Fees

You will need a Notary for this process, as he/she plays a significant role throughout the entire purchase process. Notaries, which in Greece function within the jurisdiction of the Ministry of Justice, draft the purchase-contract to lawfully secure and validate the ownership title for you, the buyer. The Notary is chosen by the buyer. Fees are based on the “assessed tax value” of the property or the sale price if higher.Who pays: BUYER

NOTE: Only the notary can validate the ownership title.

4. Legal Representation Fee

While legal representation may not be required by law, it is highly recommended, so you’re not hit by surprises. Your attorney will conduct a title search to determine if the seller has clear title of to the property you wish to purchase, thus protecting and securing your property rights. Who pays: BUYER

5. Architect-Engineer Technical Fees

When selling Greek land and/or buildings, the owner is required to provide a “Declaration of Legal Property Status – Law No. 4178/13″ from a licensed Architect-Engineer. While you may not be required to provide this certificate as a buyer, when purchasing built property, we strongly recommend that you appoint your own Architect – Engineer, to be sure that your property complies with all property laws and regulations. Who pays: BUYER

The Architect-Engineer conduct an inspection to verify that all built structures on-site comply with what has been declared on the lawfully issued building permits and floor plans.

6. Real-Estate Agents Fees

These fees are based as a percentage of the sale price and agreed upon by both parties in writing before the property transaction takes place. In most cases, Greek Real-Estate Agents do not request exclusivity for the property. Who pays: BUYER AND SELLER

A lot of foreign investment buy property to get the GOLDEN VISA.

Many times, it is useful to set up a company in Greece and buy the property.

Read also: SET UP COMPANY IN GREECE

Call us for more information: 0030 2155300749

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