Buying Property in Greece: Your Guide to a Successful Investment
At Karagounis & Partners, we provide specialized legal support and strategic advice for acquiring real estate in Greece. Whether you are interested in purchasing a residential property, commercial space, or a development project, our experienced team is here to ensure a smooth and secure process.
Understanding the Greek Real Estate Market
Greece offers an attractive landscape for property investment, encompassing both idyllic islands and vibrant urban areas. With our in-depth market knowledge, we provide guidance on the latest trends, property valuations, and the legal framework, helping you make informed decisions.
Basic Legal Steps for Real Estate Acquisition
1. Due Diligence and Ownership Verification
Before proceeding with a purchase, we conduct a thorough legal audit of the property, including checks for encumbrances, compliance with urban planning regulations, and the legality of permits. This ensures your investment is secure and free of legal issues.
2. Negotiation and Contract Drafting
Our team handles all negotiations and the drafting of necessary contracts. We ensure that each term is clear and fully protects your interests, focusing on payment terms, sale conditions, and potential consequences.
3. Tax Services
Foreign buyers must obtain a tax identification number (TIN) for property purchases in Greece. We manage the issuance of the TIN and all related administrative procedures, offering specialized tax advice to minimize your tax liabilities.
4. Tax Residency and Status
Your residency status may impact your tax obligations as a foreign buyer. We provide expert advice on tax residency status and the implications of international tax treaties.
5. Formation of a Special Purpose Vehicle (SPV)
For larger or more complex investments, we assist in establishing a special purpose vehicle (SPV), which can offer significant tax and legal benefits while safeguarding your personal assets.
6. Regulatory Compliance
Property acquisition in Greece requires adherence to various regulations and licensing requirements. Our team ensures that all national and European regulatory standards are met.
7. Financing and Financial Leasing
We support you in securing financing through mortgages or financial leases, providing the best options for realizing your investment.
8. Post-Acquisition Services
Our services extend beyond the purchase of your property. We offer ongoing support in property management, including lease agreements and resolution of any legal disputes.
9. Annual Real Estate Taxes
After acquiring your property, we manage your annual tax obligations, such as ENFIA, ensuring timely and accurate payments.
10. Ongoing Tax Compliance
We provide continuous tax guidance, including filing annual returns and ensuring adherence to tax laws to avoid potential fines.
Our ExpertIse
Karagounis & Partners has extensive experience handling significant real estate transactions, from major mergers to cross-border investments. Specializing in high-profile investments and customized solutions for individuals, we guarantee the utmost protection of your interests.
Why Choose Karagounis & Partners?
- Expert Guidance: We possess a deep understanding of the Greek real estate market, offering practical and strategic solutions for all types of investments.
- Comprehensive Legal Support: From the outset to the completion of your purchase, we provide full legal coverage throughout the process.
- International Network: Through our international network (PLG Lawyers), we offer cross-border solutions and insights into global real estate trends.
At Karagounis & Partners, we are committed to delivering top-quality legal and tax support for all your investment needs. Contact us today to discuss how we can assist you in making the best investment in the Greek real estate market.