Greece has emerged as one of the most attractive destinations for real estate investment in Southern Europe. With its stable economy, favorable tax framework, and access to the EU market, it offers exceptional opportunities for foreign companies seeking to acquire, develop, or exploit properties for long-term gain. CK Accounting & Tax Services provides end-to-end support for international investors—from acquisition to management and sale.
1️⃣ Why Greece Attracts International Investors
• Strategic location and EU membership offering access to 450+ million consumers.
• Competitive real estate prices compared to Western Europe.
• Tax incentives for investment and the Golden Visa program.
• Stable corporate tax rate (22%) and reduced dividend tax (5%).
📘 Example 1 – Golden Visa through investment:
A UAE-based company establishes a Private Company (IKE) in Greece, purchases three apartments in Athens valued at €300,000, and secures a Golden Visa for the shareholder and family members.
📘 Example 2 – Commercial use with VAT deduction:
An Italian car rental firm buys an office building in Athens for operations. Because the property is used for business purposes, the company claims VAT deductions on renovation and furnishing costs.
2️⃣ Legal Structures for Property Ownership
Foreign companies may purchase property either directly or through a Greek entity.
📘 Example 3 – Direct ownership:
A Belgian real estate firm buys six plots on a Cycladic island directly under its corporate name. As the area is near a military zone, approval from the Ministry of Defense is required—handled by its Greek tax representative.
📘 Example 4 – Greek subsidiary establishment:
A French company creates 'Athens Luxury Homes IKE' to buy and lease luxury apartments in Athens. The IKE is registered with GEMI, submits VAT returns via myDATA, and manages sales with reduced administrative burden.
3️⃣ The Property Acquisition Process
1. Obtain a Greek Tax Identification Number (AFM).
2. Conduct legal and technical due diligence.
3. Pay property transfer tax (3%) prior to signing.
4. Sign the purchase deed before a Greek notary.
5. Register ownership at the Land Registry and declare it in ENFIA (E9 form).
📘 Example 5 – Commercial acquisition:
A Polish company buys a retail property in Piraeus for €600,000. It pays 3% transfer tax, registers the title, and declares ownership to the tax authority within 30 days.
4️⃣ Property Exploitation Options
Foreign investors can choose from several exploitation methods, each with distinct tax implications.
📘 Example 6 – Long-term lease:
An Austrian company rents its apartment to a Greek shipping firm under a 5-year agreement. Rental income is taxed at 22% and declared as corporate income.
📘 Example 7 – Short-term (Airbnb) rental:
A UK-based company buys three studios in Santorini for short-term rentals. Each booking is reported to AADE’s platform and electronic receipts are issued via myDATA, allowing deduction of cleaning and platform fees.
📘 Example 8 – Commercial leasing with VAT:
A Cypriot company acquires a building in Maroussi, leases it as office space, and opts into VAT regime (24%) to recover VAT from renovation expenses while charging VAT on rentals.
📘 Example 9 – Development project:
A Qatari investment group builds a luxury resort in Messinia under Greece’s development law, receiving a 40% state subsidy and 12-year corporate tax exemption.
5️⃣ Selling and Repatriating Profits
📘 Example 10 – Capital gains under tax treaty:
A Swiss company sells its hotel property after 8 years. The profit is taxed at 22% corporate rate and 5% dividend withholding. Under the Greece–Switzerland DTT, no additional taxation applies on repatriated dividends.
📘 Example 11 – U.S. investor exit:
A U.S. LLC sells three villas in Mykonos to a French investment fund. The capital gain is taxed in Greece, but the Greece–U.S. tax treaty prevents double taxation.
📘 Example 12 – Long-term capital gains:
A Norwegian company sells properties held for more than 6 years. The gain qualifies as long-term investment income and is taxed at a reduced 15% rate.
6️⃣ Annual Compliance Obligations
Foreign property owners must:
• File annual ENFIA returns.
• Maintain accounting books (simplified or full).
• Submit VAT and withholding tax returns.
• Register rental contracts via the TaxisNet portal.
• Appoint a certified accountant in Greece for representation.
📘 Example 13 – Centralized accounting:
An Israeli company managing 10 properties in various cities maintains a single accounting system in Athens, submitting one consolidated ENFIA declaration annually.
7️⃣ How CK Accounting & Tax Services Supports Foreign Investors
• Tax representation and company formation.
• ENFIA, VAT, and rental income management.
• Tax planning under Double Taxation Agreements (DTAs).
• Due diligence and transaction coordination with lawyers and notaries.
• Golden Visa and investment incentive advisory.
📘 Example 14 – End-to-end assistance:
A Singaporean investment company contacts CK Accounting to purchase serviced apartments in Athens. We handle AFM registration, IKE incorporation, myDATA compliance, and continuous tax monitoring.
CK Accounting & Tax Services – Your trusted partner for real estate investment in Greece. We simplify the process, ensure compliance, and maximize your investment performance.