1. Application that includes
A. Application aim for raise of the law 1892/90
B. Currivulum Vitae
C. Detailed description of the real estate
D. Aim of purchase (investment or private use)
E. Details of the lawyer where the reply has to be sent

2. Certified copies of passport(s) or Identity card(s)

3. Registrar Birth Acts (1 original and 5 copies)

4. Official translations of the above acts (1 original and 5 copies)

5. Penal Records (1 original and 5 copies)

6. Translations of the penal records (1 original and 5 copies)

7. Certified topographical plan fo the properties under sale or
regarding dwellings, house drawings (4 times)

8. Certified land maps showing the position of the real estate (4 times)

LEGAL ENTITIES/COMPANIES

1. Application that includes
A. Application aim for raise of the law 1892/90
B. Currivulum Vitae
C. Detailed description of the real estate
D. Aim of purchase (investment or private use)
E. Details of the lawyer where the reply has to be sent

3. Documents related with the natural person of the entity/company

A.
Certified copies of passport(s) or Identity card(s)
B.
Registrar Birth Acts (1 original and 5 copies)
C.
Official translations of the above acts (1 original and 5 copies)
D.
Penal Records (1 original and 5 copies)
E.
Translations of the penal records (1 original and 5 copies)

2-Common questions about buying property in Santorini.

Common questions about buying property in Santorini.

Can I, as a non Greek, buy property in Santorini ?

Yes, anyone who has a valid passport and sufficient funds , can buy
property in Santorini .

Do I need to import money to Greece?

You will always have to import sufficient money to cover the purchase of
the property, the notary's fee, lawyer's fee, Records Office fee and the
purchase tax.
For non Greeks to purchase property in Greece, it will be necessary to
open a bank account in Santorini and acquire a Greek tax number. This is
so you can import all necessary funds into Greece thus not incurring Greek
income tax.
To get a Greek tax number you will need to give a limited Power of
Attorney to a Santorini resident (we normally recommend an accountant)
who will apply for it and represent you to the tax office.

How do I open a bank account Greece?

To open a bank account you will need your passport, an original telephone
or electricity bill stating your home address, an official paper stating
where you work and your job description (usually from your employer) and
finally an official copy of your tax number or social security number or
National Insurance number in your country of residence. If you are married
and will be buying a property in joint names you must also bring a copy
of your marriage certificate.

It is would be best to have these documents with you when you come to view
property, otherwise you will need to return to Santorini solely to open a
bank account.

If you intend to live here for long periods (or retire here) you must
import sufficient funds on a regular basis so that the tax man is happy
that you are not earning money in Greece.
If you are buying property in joint (or more) names, the bank account
should be opened in both (or all of these) names.

Do I need to be resident in Greece?

No, unless you decide to live here on a more permanent basis.
You will need to get a resident's permit if you buy a car or motorbike in
Greece.

How long will it take to buy property?

How long is a piece of string? A minimum of 2 months from the time a
verbal agreement has been made between purchaser and vendor. This can
stretch to few , if there are issues such as road access, unclear title to
the property, etc.

Will I need a lawyer?

You are obliged by Greek law to have a lawyer as a witness to the signing
of the contract. The fee is around 1-2% of the contract price of the
property. Included in this will be a search through the public records to
make sure that the property is free and clear of any debts, mortgages, and
other potential problems. (FOR SANTORINI ISLAND WE RECOMMEND RITA
DASKALAKI LAWYER +306944754517)

How many extra expenses will I have?

In total, anything between 8-10% of the actual purchase price.
This includes purchase tax, notary's fee, lawyer's fee, Records Office fee
and agents commission.

Will I need an accountant?

Yes, once you have acquired property, you will need to declare it to the
tax authorities and you will have many difficulties if you do not use an
accountant. As long as you can prove that you didn't earn the money to
purchase the property in Greece, you will not be liable for income tax.
Your tax declaration is made the year after the year you purchase your
property.

What are my tax obligations?

On 28/1/2008 the president of Greece signed into law the new tax law No.
3634 for the year 2008 within which, in article 5, the government replaces
the existing property tax with a new, yearly, single property tax.
This tax will be 0,1% on the objective value (tax valuation, usually less
than market value) of houses and building plots (land in towns and
villages) that belongs to individual persons and 0,6% for company owners.
The land outside of town building plans is not taxable and also storage
spaces and garages are exempt.

First time home buyers who are registered as permanent residents of Greece
and use their property as main residency are exempted from this tax for
residences up to 200 square meters, increased by 10% for each child.
If a part of this residence is used for base of their personal business,
this part will be taxed.

The properties of couples will be taxed separately.
The amount of tax cannot be less than 1,00 Euro per square meter and can
be paid immediately or in three parts, after the
submission of the tax declaration.
In case of differences between the amount of size of the properties that
have been declared in the 2005 E9 then you will incur a fine between
50-100% on top of the tax.

False, late or not submitted E9 tax declarations will be fined with 300,00
Euros.

If you have never made a tax declaration that you own property in Greece
YOU MUST do so now.

As a matter of urgency all our clients who have bought property here
should come in contact with their accounting office with details of their
properties, purchase contracts, land registration papers and receipt of
registry at the new Land Registry (Ktimatologio), because if the
measurements are not the same as the E9 of 2005 you must submit a new tax
form with a new E9.

Please note that, in case you wish to sell your property, the notary
public will not be able ratify any contract without clearance from the tax
office that all your taxes are in order.

Laws change and we are not necessarily 100% up to date, so please contact
your accountant.

Can I build a house myself or do I need a builder?

You will need the services of a civil engineer to make the plans and apply
for building permission. Building permission can be fairly costly as the
Greek Government is anxious to get its hands on as much money as possible.
Whilst building, care must be taken to keep all receipts for materials and
labour (to prove that VAT has been paid), and social insurance for the
labour must also be paid. You would be well advised to take a reputable
builder for this as otherwise you could end up in a nightmare of Greek
bureaucracy.

What are building costs?

It depends very much on the location, difficulty of access of your site
and whether you want standard materials, tiles, etc. or are prepared to
pay (or import) top quality materials. A rough average (including building
permission) is 2,600-5,000 Euros per square metre (approximately 10
square feet) for good quality, standard building materials.
What yearly local taxes and rates are due?
It depends on the size and location of your building but the local taxes
are very light and an average would be around 200 to 400 Euros per year
depending on the size and location of your property. Local rates are light
too and are paid through your electricity bill so you don't really notice
them. This bill also includes your TV and Radio license.

Do I need a representative in Santorini ?

If you are not here for much of the year or will be absent during the
building of your villa or house, you would be advised to have someone in
Santorini (PERHAPS YOUR LAWYER) who can look after your interests, keep
an eye on construction work and pay bills as necessary.
If you cannot be in Santorini for the signing of the contract of sale,
you will need to give a Power of Attorney to someone here to act for you.
This can be your lawyer, the real estate agent or someone resident here
who has your trust.
This is a fairly simple document and can usually be drawn up by the notary
within 24 hours.