The process of buying land or a property in Greece, is relatively simple and is similar to that of the UK and other European countries.  Once you have chosen your land or property, you are required by law to appoint legal representation from a local lawyer.  We can recommend several as used by our clients and this ensures that the formalities are completed correctly.  The next step you will need to apply for a greek tax number and a bank account, both of which are very straightforward tasks and they can even be done by your lawyer, by giving him/her power of attorney.  Taking a greek tax number does not affect your tax status elsewhere, but simply enables the authorities to collect low taxes relating to your property.

You are then required by law to make a deposit payment, and this is 10% of the purchase price.  On payment of this amount, a pre-contract agreement will be drawn up, and this acts as a guarantee for both parties.  These funds at this stage are allotted to applying for planning licences and permits, and because of this, if the vendor decides not to go ahead with the purchase, this payment is non-refundable.  The period between the pre-contract being signed and the contract of purchase and works being drawn up is usually 2-4 months.  Once this document has been finalised with each parties lawyer and the notary official, the stage payments will continue to the next payment of 30%, as below:-