Real Estate news

Permanent residence permit for investors

Permanent residence permit for investors

Permanent residence permit for investors 

Owners of property in Greece 

According to the Law 4251/2014, as amended by virtue of the Law 4332/2015  : 

1. By decision of the secretary general of the decentralised administration, a five-year residence permit subject to renewal shall be granted to a third- country national who: 

(a) Has legally entered the country with any type of visa or legally resides in the country, even if the residence instrument in his possession does not permit change of purpose; 

(b) Personally has the full ownership, possession and peaceful enjoyment of real estate property in Greece. In case of joint ownership of a property to the value of EUR 250 000,

legalization of illegal buildings in greece

legalization of illegal buildings in greece

Extension of the period for legalization of illegal buildings in Greece, according to the Law 4178/2013.

The period for legalization of illegal buildings or parts of buildings in Greece, according to the provisions of the Law 4178 / 2013 “ Coping with Illegal Constructions - Environmental Balance and other provisions ", which was initially until the 8th of February 2016, has now been extended until the 8th of October 2016, that is 38 months from the publication of Law. 4178/2013.

Specifically, the extension of the period regards the categories 1,2,4 and 5 of the article 9 of the above Law.

REAL ESTATES IN TRADITIONAL SETTLEMENTS OF GREECE

REAL ESTATES IN TRADITIONAL SETTLEMENTS OF GREECE

REAL ESTATES IN TRADITIONAL VILLAGES  OF GREECE 

The traditional villages are a feature of the general Greek area, with rare aesthetical, urban and historical value.

Several traditional villages in the Aegean area have been characterized as traditional settlements by virtue of Laws since 1978. Many of these villages , where one can purchase a traditional house or villa, are located in the islands of Rhodes, Symi, Kastellorizo, Chalki, Karpathos , Kalymnos , Nisyros, Tilos and other islands of the Aegean. 

Permit to purchase in the Aegean islands

Permit to purchase in the Aegean islands

PERMIT TO PURCHASE IN THE AEGEAN ISLANDS

         A special permit is needed for a non resident of the European Union, who wants to purchase a real estate in borderland areas of Greece (according to the Law 1892/1999) , some of which are  the islands of Rhodes,  Kos , Karpathos, Kalymnos, Symi, Kastellorizo, Chalki, Nisyros, Tilos and  the other islands of the Dodecanese, and also the island of Santorini, which belong to the District of South Aegean.

Capital Gains Taxes in Greece are Postponed

Capital Gains Taxes in Greece are Postponed

Capital Gains Taxes  regarding real estates in Greece,  have been postponed for two years, from the 1st of January 2015 until the 31st of December 2016, 

according to the stipulations of the article 90 of the Law 4316/2014. 

This was decided , as a way to boost Greece's real estate market and help the reflation of the Greek economy

 

Property Purchase Tax 3%

Property Purchase Tax 3%

Property purchase or transfer tax is 3% from the 1st of January 2014 in Greece. By virtue of the official notes of the NΘ ' , 21 December 2013 , full member Meeting of the Greek Parliament , the  draft of Law was voted for , regarding the Unified Real Estate PropertyTax and other provisions.

Greek Property Tax Declaration E9 Form

Greek Property Tax Declaration E9 Form

GREEK PROPERTY TAX DECLARATION E9 FORM By virtue of the provisions of the Article 86 of the Law 4316/2014 , the provisions of the Article 23 of the Law. 3427/2005 and the Article 6 § 3 of Law 4223/2013 were amended , as regards the dates for submission of initial or amendment property tax declarations - E9 forms.

Unified Real Estate Property Tax in Greece

Unified Real Estate Property Tax in Greece

Unified Real Estate Property Tax in Greece

From the year 2014 and for each subsequent year a United Real Estate Property Tax is impelled, regarding rights on real estates that are situated in Greece and that belong to natural persons or companies or other legal entities on the 1st of January of each year.

 

Capital Gains Tax in Greece

 Capital Gains Tax in Greece

Capital Gains Tax 15% in Greece According to Law 4172 , Article 41, regarding property transactions, the stipulations of which will be in force from 01-01-2014 :

Any income arising from capital gains  from  transferring real estate property , which transferring does not constitute business , is subject to personal income taxes . The meaning  of this capital gains  income includes the market value of the building that has been erected on land owned by a third person by expenses of the tenant and is returned to the occupancy of the third person upon the expiration or termination of the lease agreement.

Property transfer tax to drop to 3 pct

Property transfer tax to drop to 3 pct

The new property tax bill will include the reduction of the transaction tax to 3 percent from 2014, following strong pressure from the country’s creditors. The Finance Ministry however intends not to make any announcements on the issue so as to avert the postponement of the few transactions that may take place by the end of the year.

Today the tax stands at 8 percent for the first 20,000 euros of the property’s value and grows to 10 percent for amounts above that level. From next year, however, all property transactions will be taxed at a 3 percent rate from the first euro.

Source: http://www.ekathimerini.com/

 

By Prokopis Hatzinikolaou

the residence permit

the residence permit

 

Specification Regarding the Circular 13 about the implementation of the stipulations of the article 6 of theLaw 4146 / 2013.

It is specified by the «Correct Repetition» of the Department of Legislational Coordination and Control of the Directory of Immigrational Policy of teh Ministry of Internal Affairs , with protocol number 25426/ 2013 , that :

 

Property investment law in Greece

Property investment law in Greece

 

Property investment law in Greece 4146/2013.

 A. BENEFICIARIES

 The Beneficiaries of the right of entry and stay for  five years are:

a.  Non EU citizens  who have in their ownershipor have an intention proved by documentation to obtain ownership of real estate propert, provided that the minimum price is 250.000,00 Euros.

b.   NonEUcitizens whohave signed lease of  hotel accommodationsor touristicfurnished houses in complex touristicaccommodationsof Article 8 § 2 of L. 4002/2011, for a period of at least 10 years, provided that the minimum amount of rent is at least 250.000,00 Euros

Legalisation of illegal parts of buildings

Legalisation of illegal parts of buildings

Legalisation of illegal parts of buildings

In  September of 2013  the declarations for legalisation of illegal parts of buildings will begin being submitted , according to the new legislation.  

The new legislation regards illegal buildings that were constructed  before  28.7.2011. The time of  their construction is proved by aero- photography, tax documents or documents from other public authorities.

According to the new legislation, there are two separate categories of the the illegal buildings according to the age of the building and three separate categories according to the type of illegality. 

 

 

 

GREEK RESIDENCE PERMIT FOR INVESTORS

 

GREEK RESIDENCE PERMIT FOR INVESTORS

Granting of residence permits to Owners of Real Estates in Greece (Article 36A of the Law 3386/2005)

1.     By a decision of the General Secretary of the Decentralized Administration, a residence permit is granted for five years to a citizen of a third country , provided that he/she has received a special validation of entrance, in the cases in which it is requested, and that :

 

 

Greek property Declaration

Greek property Declaration

 

Greek property Declaration (E9 form) year 2013- extension for submission 30/06/2013

Circular 1029/2013

1.The declarations of property  of individuals for the year 2013 are submitted only electronically

2. For deceased until 31 December 2012, no declaration of property for the year 2013 is required, if  the death has been declared at the registry of the competent tax office.

3. For legal entities, for which the procedure of interruption of their business has been completed  at the competent tax office, until 31 December 2012, no  declaration of property  is required for the year  2013.

4. The deadline for electronic submission of the declaration of property of individuals (E9 form) for the year 2013, is extended until the 30 June 2013.

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