How to Buy Property in Greece Through a Company (SPV): Step‑by‑step Procedure

Understanding how to buy property in Greece through a company is essential for international investors, family offices and fund managers who want asset protection, succession planning or portfolio flexibility that individual ownership cannot deliver. The end‑to‑end procedure runs from selecting and incorporating a special‑purpose vehicle (SPV) through tax registration with AADE, bank‑account opening, notarial transfer and final entry in the Hellenic Cadastre, each stage carrying its own documents, deadlines and professional actors. Greece permits both domestic and foreign legal entities to acquire real estate, yet the process differs materially from an individual purchase in its compliance obligations, tax‑election choices and post‑acquisition reporting.

This guide maps every step against current 2026 requirements so that investors and their counsel can instruct local lawyers, notaries and tax advisers with a clear procedural checklist in hand.

Overview of the Company Property Purchase Process in Greece

A company property purchase in Greece follows a seven‑stage sequence: (1) decide structure and form the SPV, (2) obtain a company tax number (AFM) from AADE and, where necessary, appoint a tax representative, (3) open a Greek bank account and arrange funding, (4) negotiate a reservation or preliminary agreement while conducting legal and technical due diligence, (5) execute the notarial transfer deed before a Greek notary, (6) register the transfer at the Land Registry or Ktimatologio, and (7) meet post‑acquisition compliance obligations including corporate tax filings, ENFIA property tax and annual accounting.

Can a foreign company buy property in Greece? Yes. Greek law allows foreign legal entities, whether EU or non‑EU, to acquire real estate in the country. The company must hold a valid Greek tax number and, in certain cases, appoint a local tax representative. Restrictions apply only in designated border and military zones, where additional permits are required regardless of whether the buyer is an individual or a company.

Investors typically choose an SPV structure for one or more of the following reasons:

• Asset protection. The property sits in a ring‑fenced entity, limiting the investor’s personal liability exposure.
• Succession and estate planning. Transferring shares in a company is procedurally simpler, and often more tax‑efficient, than transferring registered title to real estate.
• Fund and portfolio structures. Institutional and family‑office investors require corporate ownership to comply with fund documentation, reporting standards and multi‑jurisdictional tax treaties.

The trade‑off is increased administrative burden: the SPV must maintain Greek‑standard accounting records, file annual corporate tax returns, and meet ongoing regulatory obligations that an individual owner does not face.

Eligibility and Prerequisites for a Company Property Purchase in Greece

Both domestic Greek companies and foreign legal entities may purchase real estate. The buying entity must have a Greek tax identification number (AFM) issued by the Independent Authority for Public Revenue (AADE). If the company is non‑resident and has no permanent establishment in Greece, it will generally need to appoint a Greek‑based fiscal representative who can receive notices and file tax returns on its behalf.

Foreign Company vs. Greek SPV, Pros and Cons

A foreign company avoids the cost of Greek incorporation but faces more complex AFM procedures, potential withholding‑tax disadvantages and slower bank‑account opening. A Greek SPV, typically an IKE (private company) or EPE (limited liability company), benefits from a streamlined GEMI registration process, easier banking relationships and clearer compliance pathways, but carries formation costs and ongoing Greek accounting obligations.

Permits and Sectoral Restrictions

Properties located in border prefectures or near military installations require a special permit from the relevant Decentralised Administration authority. Purchases of forest land, archaeological sites or properties within designated Natura 2000 zones may trigger additional environmental or planning permits. Buyers, whether individuals or companies, must verify zoning status and building‑permit validity with the competent municipal technical services before committing.

Step‑by‑Step: How to Buy Property in Greece Through an SPV

The following numbered procedure sets out each operational stage, who is responsible, and the typical duration. All timelines are indicative and should be confirmed with local counsel.

Step 1: Decide Structure and Form the SPV

Select the appropriate Greek corporate vehicle. The most common choices for SPV property in Greece are the IKE (Idiotiki Kefalaiouchiki Etaireia, private company), the EPE (Etaireia Periorismenis Efthynis, limited liability company) and, for larger portfolios, the AE (Anonymi Etaireia, société anonyme). Draft the Articles of Association specifying the company’s object as real‑estate acquisition and management, determine share capital, and appoint directors. A Greek corporate lawyer or company secretary files the articles with the General Commercial Registry (GEMI). Company formation in Greece through GEMI can be completed in as little as one business day using the electronic one‑stop‑shop service, though complex structures may take up to two weeks.

Step 2: Register for Tax (AFM) and Appoint a Tax Representative

Once the company exists on GEMI, obtain an AFM for the company from AADE. If the investor or a director is not resident in Greece, a proxy holding a notarised Power of Attorney can attend the competent tax office or submit the application electronically. Non‑resident companies without a Greek permanent establishment should appoint a local fiscal representative. Where the SPV will charge VAT on rental income or intends to recover input VAT on a new‑build purchase, a separate VAT registration is needed, typically processed within 3–10 business days.

Step 3: Open a Greek Bank Account and Arrange Funding

Greek notaries require proof that the purchase price passed through the banking system. Open a corporate bank account in the SPV’s name with a Greek credit institution. Banks will run know‑your‑customer (KYC) checks on the company, its ultimate beneficial owners and directors; expect 3–21 business days depending on the bank and the complexity of the ownership chain. If the SPV seeks mortgage financing, early indications suggest Greek banks remain cautious with foreign‑owned single‑asset SPVs, often requiring personal guarantees from the beneficial owner, a substantial equity contribution (typically 30–50 per cent) and full property appraisal.

Step 4: Reservation, Preliminary Agreement and Due Diligence

Negotiate and sign a reservation agreement or preliminary contract (prosemorino symvolaio), usually accompanied by a deposit of 5–10 per cent. Simultaneously, the buyer’s lawyer must carry out thorough due diligence:

• Title search. Verify the seller’s unencumbered ownership via the competent Land Registry or Ktimatologio office.
• Encumbrance certificate. Confirm the absence of mortgages, liens, seizures or third‑party claims.
• Urban planning and building permits. Confirm that the property has valid building permits, no outstanding demolition orders and complies with current zoning and planning regulations.
• Energy Performance Certificate (EPC). Required for the transfer; also relevant to 2026 energy‑compliance checks.
• Environmental and zone verification. Confirm the property is not in a restricted border, military or protected environmental zone requiring special permits.

Allow 2–6 weeks for this stage. Complex title histories, unregistered land or properties in areas transitioning to the Ktimatologio may take longer.

Step 5: Notarial Transfer and Payment

The sale is formalised before a Greek notary, who prepares the notarial deed (symvolaio). Before signing, the buyer must present proof of payment of the applicable transfer tax or VAT. The critical election is between transfer tax, applied to resale properties and developer sales where a VAT exemption applies, and VAT at 24 per cent, which may apply to newly built properties sold by a developer who has not opted for the transfer‑tax regime. The notary will not execute the deed without a tax‑clearance receipt from AADE. If the buyer cannot attend in person, a representative holding a properly notarised and apostilled Power of Attorney may sign on the company’s behalf.

Step 6: Registration at the Land Registry / Ktimatologio

After execution, the notary submits the deed to the competent Land Registry or Ktimatologio office for registration. Until the transfer is registered, it is not enforceable against third parties. Processing times vary considerably, from 2 weeks in well‑staffed urban registries to 12 weeks or more in areas with backlogs or ongoing cadastral transitions. The buyer’s lawyer should follow up to confirm completion and obtain a certified extract showing the SPV as registered owner.

Step 7: Post‑Acquisition Compliance for the SPV

Once the company holds the property, ongoing obligations begin:

• Annual corporate tax return. The SPV files Greek corporate income tax returns; rental or other income is taxed at the applicable corporate rate.
• ENFIA property tax. The annual Unified Property Ownership Tax (ENFIA) is levied based on the property’s objective value and characteristics.
• Accounting and bookkeeping. Greek‑standard accounting records must be maintained for the SPV, including invoices, bank statements and expense documentation.
• Beneficial‑ownership reporting. Under current anti‑money‑laundering rules, the company must declare its ultimate beneficial owners to the central UBO registry maintained through GEMI.
• VAT returns (if registered). SPVs registered for VAT must file periodic VAT returns.

Documents Needed for a Company Property Purchase in Greece

The documents needed for a company property purchase fall into three categories: corporate formation documents, buyer transaction documents, and property or seller documents. The table below consolidates the full checklist.

Preparing the Power of Attorney for Non‑Resident Signatories

If the company’s director or authorised representative cannot travel to Greece for the signing, a Power of Attorney must be executed before a notary in the representative’s country of residence. The PoA should be drafted in Greek (or with a certified Greek translation), specify the exact scope of authority, including signing the notarial deed, paying taxes and registering the transfer, and be apostilled under the Hague Apostille Convention. For countries not party to the Convention, consular legalisation through the Greek consulate is required instead.

Timeline for Buying Property in Greece Through a Company

The overall timeline for buying property in Greece through a company typically ranges from 4 to 12 weeks or more, measured from the start of company formation to the final Land Registry entry. Several factors can shorten or extend this window.

Company formation and AFM (Steps 1–2): Using GEMI’s electronic one‑stop‑shop, an IKE can be formed in as few as 1–3 business days. The AFM application can follow immediately and is often issued within the same week. Engaging a local fiscal representative in advance avoids delays for non‑resident companies.

Banking (Step 3): KYC processes at Greek banks are the most unpredictable variable. Providing all beneficial‑ownership documentation upfront and selecting a bank experienced with corporate clients reduces timelines from a potential 3 weeks to as little as 5 business days.

Due diligence (Step 4): Title searches in areas already registered with the Ktimatologio are faster (days) than in legacy Land Registry areas where manual searches are required (weeks). Engaging an engineer for planning and EPC checks in parallel with the legal title search compresses this phase.

Notary and registration (Steps 5–6): The notary appointment can typically be scheduled 1–4 weeks after the deposit and due diligence are completed. Once the deed is signed, the notary submits it for registration. Backlogs at certain registry offices mean the buyer should not rely on instant registration; follow‑up by the buyer’s lawyer is essential.

Critical deadlines: Preliminary agreements usually set a fixed date for completion. If the buyer misses that date, the deposit may be forfeited and the seller released from the agreement. Contract clauses allowing reasonable extensions and escrow protection for the deposit are strongly advisable.

Costs, Fees and Tax Implications of a Company Property Purchase in Greece

The following table summarises the main costs associated with purchasing Greek property through an SPV. All figures are estimates; investors should verify current rates with AADE, the notary and their legal adviser.

VAT vs. Transfer Tax: How to Decide

The choice between VAT and transfer tax is one of the most consequential decisions in a company property purchase in Greece. Transfer tax, set at approximately 3.09 per cent of the property’s tax (objective) value, applies by default to resale properties. For newly constructed properties where the building permit was issued after 1 January 2006, VAT at 24 per cent on the contractual sale price would in principle apply, though developers have been entitled in many cases to suspend VAT obligations, causing transfer tax to apply instead. The likely practical effect for most SPV purchasers of resale property is that transfer tax will apply; for new‑build acquisitions directly from a developer, the VAT position must be confirmed before signing.

Illustrative Worked Example

For a resale property purchased at a contractual price of €500,000 with an objective (tax) value of €400,000:

• Transfer tax: approximately €12,360 (3.09% × €400,000).
• Notary fees: approximately €4,000–€6,000 (estimate; sliding scale on value).
• Land Registry fees: approximately €1,900–€2,300.
• Lawyer fees: approximately €5,000–€10,000 (1–2% of contractual price).
• Total estimated transaction costs (excluding company formation): approximately €23,260–€30,660.

These figures are illustrative. Exact costs depend on the specific property, the notary’s tariff and local registry fees in force at the date of transfer.

What Changes in 2026: Practical Impact on How to Buy Property in Greece Through a Company

Several compliance and regulatory developments in 2026 affect the SPV property‑purchase procedure. Investors should instruct counsel to verify each point before signing.

• VAT suspension regime review. Industry observers expect continued scrutiny of the conditions under which developers may suspend VAT obligations on new‑build sales. The practical effect is that buyers must confirm, on a transaction‑by‑transaction basis, whether VAT or transfer tax applies, relying on assumptions from prior years is insufficient.
• Increased reporting for property‑owning entities. Anti‑money‑laundering and beneficial‑ownership transparency requirements have been tightened, with expanded obligations for SPVs to maintain current UBO declarations on the GEMI central registry and to respond to information requests from AADE.
• Energy Performance Certificate (EPC) requirements. Stricter energy‑efficiency standards affect both the EPC grade required for transfer and, where relevant, eligibility for Golden‑Visa applications. Properties with very low energy ratings may face additional disclosure obligations or valuation adjustments.
• Golden Visa and company purchases. The Golden‑Visa programme applies minimum‑investment thresholds that vary by location. Where an investor uses a company to hold the property, eligibility depends on the beneficial owner meeting the programme’s individual‑applicant requirements; company ownership alone does not automatically confer Golden‑Visa rights. Early indications suggest authorities are applying closer scrutiny to SPV‑held Golden‑Visa properties to confirm genuine beneficial ownership.
• Ktimatologio transition progress. Ongoing migration from legacy Land Registries to the national Ktimatologio system continues to affect registration timelines and the format of title‑search results in certain regions.

2026 pre‑signing verification checklist:

• Confirm VAT or transfer‑tax treatment with AADE for the specific property.
• Verify UBO declaration is current and filed with GEMI.
• Obtain a valid EPC meeting 2026 standards.
• If pursuing Golden Visa, confirm eligibility criteria for company‑held property with immigration counsel.
• Check whether the property’s area has transitioned to the Ktimatologio and plan registration timing accordingly.

Common Pitfalls and How to Avoid Them

• No AFM before notary appointment. The notary cannot execute the deed without the buyer’s AFM. Appoint a fiscal representative and obtain the company AFM well before the scheduled signing date.
• Incomplete or outdated corporate documents. A GEMI extract that is several months old or Articles of Association that do not authorise real‑estate acquisition will stall the transaction. Obtain fresh extracts and confirm the company’s stated objects cover the purchase.
• Wrong VAT / transfer‑tax election. Paying the incorrect tax triggers penalties and delays. Verify the applicable regime with AADE and the seller’s tax adviser before the notary appointment.
• Undetected encumbrances or zoning violations. Relying on the seller’s verbal assurances instead of a formal title search and encumbrance certificate risks acquiring property with hidden liens, demolition orders or zoning breaches. Always commission independent legal and technical due diligence.
• Border or military‑zone permit not obtained. Purchasing in a restricted zone without the required permit renders the transfer voidable. Check the property’s classification at the outset.
• Underestimating notary and tax costs. Notary fees, transfer tax and registration fees together can reach 5 per cent or more of the property value. Budget conservatively and request binding fee estimates from the notary.
• Cross‑border money‑transfer delays. AML checks on large international transfers can delay funds arriving in the Greek bank account. Initiate transfers early and ensure the sending bank has all compliance documentation.
• Failure to maintain SPV compliance post‑acquisition. Missing annual corporate tax filings, ENFIA payments or UBO declarations exposes the company to fines and, in extreme cases, administrative dissolution. Engage a Greek accountant from the date of formation.

Sources

1. Independent Authority for Public Revenue (AADE)
2. General Commercial Registry (GEMI)
3. Hellenic Cadastre / Land Registry (Ktimatologio)
4. Government Gazette (FEK) / National Legislation Portal
5. taxis.net.gr, Foreign Company Property Purchase: Tax and Structuring Points
6. Elxis, The 10 Most Common Misconceptions About Buying a Home in Greece
7. Tsiricos Boutique Law Office, Legal Foundations for Property Acquisition in Greece
8. Alliott, Property Owned by a Foreign Legal Entity in Greece
9. Global Property Guide, Greece Buying Guide
10. Astonsgreece, Buying Property in Greece Remotely (2026)