Step-by-step legal process, full cost breakdown, Golden Visa overview and the critical mistakes to avoid. Written for UK, US and European buyers.
Greece welcomes foreign buyers. Unlike some European markets that restrict or complicate non-resident property ownership, Greece's legal framework is straightforward: foreigners — EU and non-EU alike — can purchase property in Greece with full ownership rights. The process is well-established, the legal framework is clear, and with the right advisors in place, a purchase can be completed efficiently and with confidence.
Yes, with very few exceptions. EU and EEA nationals face no restrictions whatsoever. Non-EU nationals can also purchase freely in most of Greece, with one historical exception: properties in designated border regions traditionally required special ministerial approval. In practice, this restriction has been significantly relaxed and rarely affects purchases in the locations that attract international luxury buyers — Corfu, Mykonos, Santorini, Athens and the main Ionian islands are all unrestricted.
Before any property transaction, every buyer must obtain an AFM (Arithmos Forologikou Mitroou) — a Greek tax identification number. This is obtained from the local tax office and can be done in person or via a Power of Attorney granted to your Greek lawyer. Allow 1–2 weeks. Your lawyer will handle this as standard.
A Greek bank account is required to receive the property transfer and pay transaction costs locally. Major Greek banks — Piraeus, Alpha, Eurobank, National Bank of Greece — accept non-resident account applications. Your lawyer or notary can assist with introductions.
This is the single most important decision you make in the purchase process. Your lawyer — who must be independent of the vendor and their agents — conducts the legal due diligence: title searches going back 20 years, planning compliance verification, checking for encumbrances, mortgages or legal disputes attached to the property, and — for coastal properties — confirming coastal zone status.
"Do not use the vendor's lawyer. Do not proceed without independent legal advice, regardless of how straightforward a transaction appears."
Once due diligence is satisfactory, a preliminary agreement (Proxymfono) is typically signed and a deposit paid — usually 10% of the purchase price. This is a legally binding commitment by both parties. The deposit is forfeit by the buyer if they withdraw; the vendor must return double if they withdraw.
The final transfer is executed before a notary. Both buyer and seller (or their representatives via Power of Attorney) must be present. The contract is read aloud in full — a requirement of Greek law. On completion, the notary registers the transfer with the Land Registry.
Property Transfer Tax: 3.09% of purchase price — the main buyer cost
Notary fees: 1–2% (around 1.5% is typical; scale fee set by law)
Land Registry registration: 0.475%
Legal fees: €2,000–€5,000 (independent lawyer)
Total buyer costs: typically 8–10% above purchase price
ENFIA is Greece's annual property tax, levied on all property owners. Rates are calculated on the "objective value" of the property and vary by location, size, floor and construction date. For a €2m island villa, annual ENFIA typically falls in the range of €3,000–€8,000. Your Greek accountant will calculate the exact figure.
Non-EU buyers can qualify for Greece's Golden Visa through a tiered real estate investment. The entry tier of €250,000 applies to specialised investments converting commercial property to residential use, or restoring listed buildings, regardless of location. The €400,000 tier applies to a single property of at least 120 sqm anywhere in Greece. The €800,000 tier applies to property purchased in Athens, Thessaloniki, or islands with more than 3,100 inhabitants. Residency rights extend to the buyer, their spouse, children under 21, and both sets of parents. This does not require the buyer to live in Greece. Permits are typically issued within 90 to 120 days of a complete application. The visa must be renewed every five years, conditional on retaining the property. After seven years of residency, citizenship may be applied for.
Alternative qualifying routes exist for buyers who prefer not to purchase outright — including a fixed-term bank deposit of at least €500,000, Greek government bonds of at least €500,000, or a 10-year lease on tourist accommodation valued at €400,000 or €800,000 depending on the zone.
The Golden Visa is a significant additional benefit for many international buyers and should be factored into any purchase above the threshold.
A well-managed Golden Visa application typically follows the same sequence regardless of which licensed advisor or law firm manages it: an initial consultation, due diligence checks on the applicant, a signed client agreement and retainer, collection of supporting documents, a visit to Greece to conclude the process with a legal representative, payment of government fees, formal submission of the residence application, biometric capture, and final approval. Total timelines of 90 to 120 days are typical for straightforward applications, though biometrics can occasionally be scheduled up to six months out depending on appointment availability.
Main applicant requirements: valid health insurance in Greece, a valid entry visa, and proof of the qualifying investment
Family coverage: spouse, children under 21, and parents of both the main applicant and spouse
Document requirements: all supporting documents must be officially certified and translated into Greek
Income restriction: Golden Visa holders may hold shares and receive dividend income from a Greek company, but may not take up direct employment in Greece
Navigating a Greek property purchase as an international buyer requires a coordinated team: a trusted search agent, an independent Greek lawyer, a local accountant, and — for non-Eurozone buyers — a currency specialist. Pelagos Private Office manages this coordination as part of our advisory service.
We work exclusively with trusted independent lawyers and advisors in Greece, introduced personally by Marcus to every client. Our role is to ensure that your purchase — from first viewing to key handover — is managed with complete intelligence and discretion.