Foreign buyer's guide to Greek freehold ownership.
Greece doesn't run a scheme-based ownership structure for foreign buyers the way some markets do. There's no special foreign-buyer category, no leasehold workaround, no company structure requirement. A non-EU buyer registers title the same way a Greek national does — full freehold, recorded at the Hellenic Cadastre.
What trips buyers up isn't the ownership structure. It's two procedural details that don't come up in most EU purchases, covered below alongside the full seven-step process.
- No nationality restriction on ownership — the exception is border-zone permits in specific regions
- You need an AFM first — a Greek tax number before anything else can proceed
- The notarial system is familiar — recognisable to anyone who has bought in another EU civil-law country
- Most steps run remotely — power of attorney covers the bulk of the process
The seven-step process
- Zone and eligibility check — confirm whether the property sits in a border or strategic-area restriction under Presidential Decree 20/1990. If Golden Visa eligibility matters, confirm the zone and 120 sqm threshold too.
- Obtain an AFM — a Greek tax registration number is mandatory before any purchase can proceed, regardless of nationality, often arranged early by power of attorney.
- Preliminary agreement — you sign a reservation agreement setting out price, deposit, and completion conditions ahead of the formal notarial contract.
- Independent legal review — Greek counsel conducts a Hellenic Cadastre title search, checks encumbrances, and confirms VAT-versus-transfer-tax treatment.
- Border-area permit, if required — where applicable, the permit application goes to the local Prefecture Committee; start it early, since timelines vary by region.
- Notarial deed and payment — typically signed in Greece, though execution via authorised representative is possible in most cases. You settle transfer tax or VAT-suspension here.
- Registration, and residency if relevant — title registers at the Hellenic Cadastre; if Golden Visa eligible, the residence permit application follows.
The "objective value" basis for transfer tax
Greece calculates transfer tax and several other costs based on the higher of two figures. One is the price you actually agreed with the seller. The other is the state's official assessed value for that property — the "objective value" (αντικειμενική αξία). In most transactions the two are close. Occasionally they're not, particularly on older assessments in areas that have appreciated quickly.
Ask your lawyer to check the objective value before you finalise a price, not after. This single check prevents the most common source of budget surprise in Greek transactions.
Documents to prepare in advance
Gathering these before the process starts avoids the most common source of delay. That's waiting on paperwork mid-transaction rather than having it ready when the notary or Prefecture Committee asks for it.
- Valid passport — for the buyer and any co-owners
- Proof of funds — bank statements or equivalent, showing the source of the purchase price
- Power of attorney — notarised, if steps will be handled remotely
- Existing home-country tax number — often requested as part of AFM registration
- Marriage certificate — where relevant to co-ownership or Golden Visa family inclusion
What typically causes delay
What a straightforward purchase actually looks like week by week
Buying personally versus through a company
Most foreign buyers purchase in their personal name — it's the simpler route and the one the Hellenic Cadastre and notarial system are built around. A company structure, whether Greek or foreign, is possible but changes the process materially: the company itself needs a Greek AFM, its representative needs power of attorney or direct signing authority, and additional corporate documentation (incorporation certificate, good standing, authorised signatory list) joins the file the notary requires.
Company ownership can make sense for buyers consolidating multiple properties, structuring for inheritance planning, or aligning with a home-country tax position. But it's a decision to make with both Greek counsel and a home-country tax adviser before reservation, not something to default into for its own sake.
- Additional AFM — the company needs its own tax number alongside any individual involved
- More documentation — incorporation certificate, good standing, signatory authority
- Golden Visa implications — eligibility rules for company-held property should be confirmed separately with counsel
- Resale complexity — a future buyer may prefer buying the property directly rather than acquiring company shares, which can narrow the buyer pool
What resale looks like when the time comes
Selling follows broadly the same framework as buying, with you as the seller: title and encumbrance checks, a notarial deed, and Cadastre re-registration in the new owner's name. If capital gains tax has been reinstated by the time you sell, that liability is calculated at this stage — one more reason the CGT suspension date matters even to buyers who see this as a long-term hold.
Greece's freehold system means your resale buyer pool includes both Greek nationals and foreign buyers on equal footing — unlike leasehold or scheme-based markets where the pool narrows to buyers who understand and accept the specific structure. This is one of the quieter advantages of buying freehold rather than a more complex ownership form.
This process sits alongside the wider Greek ownership framework and Greece investment guide. See our Golden Visa zone guide if residency matters to your purchase, the full cost stack to model what these steps will actually cost, and how Greece compares to Spain, Portugal, and the UAE. Once you've completed the purchase, see our quality of life in Greece guide for what daily living actually looks like.
A licensed international advisory built on formal professional standards
Tropical Riviera International Realty is a licensed international real estate advisory. Bhavesh Koonja, our principal broker, holds both the REALTOR® and Certified International Property Specialist (CIPS) designations through the National Association of REALTORS®. These credentials carry a formal code of ethics and fiduciary standard, not just a sales licence.
We coordinate independent Greek legal counsel and manage the acquisition process end to end. See our international real estate investment overview and international real estate advisory approach for how this fits our wider market coverage.
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Greek property buying process FAQ
How long does it take to get an AFM tax number as a foreign buyer in Greece?
AFM registration is typically one of the faster steps. It can often be completed within days when handled by power of attorney. The exact timing depends on the local tax office and how quickly supporting documents are gathered.
What documents does a Greek notary need before signing the deed?
The notary requires the completed title search and encumbrance certificate from the Hellenic Cadastre, plus proof of AFM registration. Also needed: the engineer's certificate confirming building-permit legality, tax clearance documentation, and — where applicable — confirmation that any border-zone permit has been granted.
Can I buy Greek property using a power of attorney without ever visiting the country?
In most cases, yes. An authorised representative can typically handle AFM registration, legal review, and even the notarial deed itself, under power of attorney. Physical presence is rarely a strict legal requirement.
Money & Timelines
Do I need a Greek bank account before I can complete a property purchase?
It's not always a strict prerequisite, but most transactions run more smoothly with one, since transfer tax payment, notary fees, and ongoing costs like ENFIA are typically easier to settle from a Greek account. Your legal representative can advise whether it's necessary for your specific transaction.
What happens if the title search finds an encumbrance on the property?
An encumbrance — a mortgage, lien, or unresolved claim — must generally be cleared before the notarial deed can proceed. This is exactly why the title search happens before signature, not after: it gives time to resolve the issue or walk away before any funds are committed beyond the reservation deposit.
What is typically the single biggest cause of delay in a Greek property purchase?
Border-zone permit processing, where applicable — Prefecture Committee timelines vary by region and aren't standardised nationally. The second most common cause is incomplete power of attorney documentation at the AFM registration stage, which is avoidable by preparing documents in advance.
Structure & Resale
Should I buy Greek property personally or through a company?
Most foreign buyers purchase personally — it's simpler and matches how the notarial system is set up. A company structure can make sense for consolidating multiple properties or aligning with home-country tax planning, but it adds documentation and should be decided with both Greek and home-country advisers before reservation, not after.
Does buying through a company affect Golden Visa eligibility?
It can — eligibility rules for company-held property differ from personal ownership and should be confirmed separately with legal counsel before structuring the purchase this way, especially if residency is part of the objective.
Is it harder to resell a freehold property in Greece than in other EU markets?
Not structurally. Greece's freehold system means Greek nationals and foreign buyers can both purchase on equal footing, which keeps the resale buyer pool comparable to other mature EU freehold markets. Resale follows broadly the same process as the original purchase, in reverse.
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