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If you are a foreign resident and wish to acquire assets in Greece (e.g car, house, pleasure boat) you must issue a tax identification number to the National Tax Agency.
Additional necessary actions are the issuance of a personal key code and the appointment of a tax representative in Greece.
The tax representative will be notified of your financial obligations towards the Greek administration and will inform you about the necessary actions required.
Finally, depending on your activity in Greece, you may be required to submit an annual tax return.
Your tax obligations will be managed through the tax office’s electronic platform (taxisnet), on which we will create an individual account for you after the VAT issuance process.
A common mistake made by prospective buyers is rushing into an agreement by depositing an advance payment and signing an unfair contract under the pressure of losing a good opportunity. However, if legal defects are discovered in the property, withdrawing from the deal can be a costly and time-consuming procedure that could have been avoided with proper legal support.
Therefore, it is crucial to seek legal guidance and conduct a comprehensive legal examination of the property’s actual legal condition. This process takes place before purchasing the property and is exclusively carried out by a lawyer.
Our lawyers will conduct a meticulous examination of the property titles in the mortgage office, where all the older purchasing titles of each property are held in volumes, as well as the registrations of all the legal issues, such as mortgages, etc. Additionally, they will examine the property’s legal burdens in the land registry office. The examination must go back at least 20 years to avoid adverse possession claims.
During the negotiation of a property purchase and sale, the prospective buyer typically provides a down payment as a means of formalizing their interest and finalizing the price. The amount of this advance is determined in accordance with the property’s value.
The advance pay,ent is typically made either by way of a private agreement or a notarized preliminary agreement, which affords the greatest possible security to both the buyer and seller. This agreement sets forth the following key terms:
If either the seller or the buyer resides abroad or is unable to carry out the necessary procedure and collection of documents for any other reason, the may appoint a lawyer to act on their behalf by way of a special power of attorney. This power of attorney must be drawn up by a notary, and if the party lives abroad, it can be drawn up at the nearest Greek Consular authority.
After all the necessary documents have been collected on behalf of the seller, as determined by the notary, and the property transfer tax declaration has been submitted to the competent tax office, the final contract is signed in the presence of the notary. The notary will then provide the buyer with a copy of the contract and other necessary documents for the transfer or registration of the contract in the Mortage Registry or Land Registry (if applicable) of the property’s area. Once the definitive contract has been transferred to the competent Land Office, the process of purchasing the property on behalf of the buyer is complete.
To obtain a loan from your preferred bank, you must fulfill specific criteria such as age, financial stability, and other requirements, in addition to providing all the necessary supporting documents. These documents may include original copies of your identification card or passport, income tax statements from the past three years, proof of permanent residency, and more. The type and number of supporting documents required will vary depending on the loan type, your country of origin, and the specific bank you choose.
We are here to assist you throughout this process, from gathering the necessary documents to submitting your loan application, as well as providing any legal support required to finalize your loan agreement.
Our goal is to help people in the best way possible. this is a basic principle in every case and cause for success. contact us today for a free consultation.
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