Ownership Structures for Foreign Property Buyers in Greece: A Complete Guide

Greece has attracted foreign property buyers for generations — from retirees seeking Mediterranean island life to investors drawn by the country's well-established tourism economy, ongoing regeneration, and the Golden Visa residency programme. Greece is unusual among property markets in imposing very few nationality-based restrictions on ownership, making direct individual purchase the straightforward default. However, the Greek tax framework — particularly the annual ENFIA property tax, inheritance tax variation, and the nuances of the Golden Visa requirements — deserves careful attention.

This guide covers the main ownership structures for foreign buyers in Greece as of 2026. Tax rates and regulations change; always engage a qualified Greek lawyer (dikigorós) and accountant (logistis) before completing any transaction.

No Ownership Restrictions for Foreign Buyers

Unlike many countries covered in this series, Greece places no nationality-based restrictions on foreign property ownership in the vast majority of its territory. EU and non-EU nationals alike can purchase freehold property in Greece without requiring government approval (with limited exceptions in designated border zones — see below).

This simplicity is one of Greece's structural advantages for foreign buyers.

Border Zone Exception

Certain areas close to Greece's land borders and some island areas have historically been classified as border zones (parametherios zoni) where non-EU buyers required approval from the local military commission (Epitropi) to purchase. The scope and enforcement of these rules has evolved, and in practice approvals are routinely granted for most civilian residential purchases. However, if you are buying in northern Greece (near the borders with North Macedonia, Bulgaria, Albania, or Turkey), or on certain islands, your lawyer should confirm whether a permit is required.

Structure 1: Individual Ownership

Direct individual ownership is the most common and simplest structure for foreign buyers of Greek residential property.

The Purchase Process

1. Obtain a Greek Tax Registration Number (AFM — Arithmos Forologikou Mitroou) — required for all property transactions and Greek tax filings. Applied for at the local Tax Office (Eforia)
2. Open a Greek bank account (required for tax payments and local transactions)
3. Instruct a Greek lawyer to conduct title searches at the Land Registry (Ktimatologio) or Mortgage Registry (Hypothikofilakio)
4. Sign the preliminary sale agreement (Symvólaia Prokatavolikis Polis) — typically with a 10% deposit
5. Notarised transfer deed (Symvólaio) signed before a Greek notary (Symvolaiografos) — final completion
6. Register at Land Registry / Cadastre

Cost summary — purchase:

Cost / Tax	Rate / Note
Transfer tax (FMA — Fóros Metavivaseos Akiniton)	3.09% of the higher of objective value or contract price
VAT (FPA)	24% on new-build properties with building permit after 1 Jan 2006 (FMA does not apply if VAT applies) — NB: new-build VAT suspended until 31 Dec 2024; verify current position
Notary fees	~1–2% of purchase price
Lawyer fees	~1–2% of purchase price
Land Registry fee	~0.475–0.8%
Agent fee	Typically 2% buyer + 2% seller

ENFIA (Annual Property Tax)

ENFIA is the most significant ongoing cost of owning Greek property. It applies to all property owners regardless of nationality, residency, or ownership structure. ENFIA is calculated based on:

• The property's objective value (government-assessed value, often below market value)
• Location (zone-based coefficients)
• Property age, size, floor level
• Total real estate portfolio held by the owner (supplementary ENFIA applies to portfolios above a threshold)

Owners receive an annual ENFIA notice (typically September) and must pay by the deadline. Failure to pay creates a lien on the property. Payment of ENFIA is also required to obtain the tax clearance certificate needed to sell or transfer the property.

Approximate ENFIA ranges (indicative only — vary significantly by property and location):

• Modest island apartment: €200–€600/year
• Athens apartment in central zone: €500–€3,000/year
• Large villa on popular island: €3,000–€15,000+/year

Capital Gains Tax (Currently Suspended)

A 15% CGT on the gain from property sales (purchase price to sale price, inflation-adjusted) was enacted in 2013. It has been suspended since 2014 and extended repeatedly. As of 2026, CGT on Greek property is not currently in force, but the suspension may not be renewed indefinitely. Check the current position with your Greek tax adviser before any transaction — both before purchasing (to understand the potential exit tax) and before selling.

Rental Income Tax

Rental income from Greek property is subject to Greek income tax. For non-resident individuals, Greek rental income is taxed on a progressive scale:

Annual rental income	Rate
Up to €12,000	15%
€12,001 – €35,000	35%
Above €35,000	45%

Short-term rental income (e.g. Airbnb) is subject to the same rates but requires registration on the AADE short-term rental registry (Miterao) and a property registration number (AMA). Unregistered short-term letting carries fines.

Double-tax treaties may provide relief for non-residents depending on their country of residence. Most major EU and Western countries have treaties with Greece.

Greek Inheritance Tax

Inheritance tax in Greece applies at varying rates depending on the relationship between the deceased and the beneficiary:

Category	Relationship	Tax-free threshold	Rate above threshold
A	Spouse, children, parents, grandchildren	€150,000 per beneficiary	1–10% progressive
B	Siblings, aunts/uncles, nieces/nephews	€30,000	5–20% progressive
C	Other (unrelated)	€6,000	20–40% progressive

These are relatively favourable rates compared to several other European countries, particularly for direct family. Greek succession law (Civil Code) applies to Greek property owned by non-residents who have not made a valid Greek will.

Important: Under EU Succession Regulation (EU) 650/2012, EU nationals can elect for the succession law of their country of nationality (rather than Greece) to govern their entire estate, including Greek property. Non-EU nationals should check the applicable treaty framework. A Greek will or notarised succession declaration is strongly recommended for all foreign owners.

Structure 2: Greek Company (AE or EPE)

Greek property can be held through a Greek corporate entity — an AE (Anonymi Etairia — public company) or more commonly an EPE (Etairia Periorismenis Efthinis — limited liability company).

When a Company Structure Is Used

A Greek company is appropriate where:

• You hold multiple properties and want to consolidate them in one entity
• The property is a commercial asset (hotel, office, commercial retail)
• You want to run a formal rental business with VAT registration
• Tax planning in conjunction with other corporate structures

Tax Position for Greek Companies

Tax	Rate
Corporate income tax	22% (verify current rate)
Rental income in company	22% corporation tax (expenses deductible)
Capital gains	22% corporation tax on gain
Dividend withholding to non-residents	5% (subject to treaty)
ENFIA	Companies pay ENFIA at individual owner rates — no corporate exemption

ENFIA for Companies

A key point often misunderstood: Greek companies pay ENFIA at the same rates as individuals. There is no ENFIA exemption for corporate ownership. The supplementary ENFIA (for high-value portfolios) applies to companies just as it does to individuals.

The primary tax advantage of a Greek company is the lower corporation tax rate (22%) on rental income versus the individual top rate (45%), but dividend extraction adds withholding tax and removes some of that advantage.

Golden Visa and Greek Company Ownership

The Greek Golden Visa programme allows non-EU nationals to obtain a 5-year Greek residence permit by investing in Greek real estate above the applicable threshold. The investment can be made:

• In the investor's own name
• Through a Greek company (AE or EPE) in which the investor holds 100% of shares

It cannot be held through a non-EU company — the ENFIA and direct ownership trail must be clear.

Golden Visa holders receive Greek residence rights (not citizenship) and free movement within the Schengen Area. Greek citizenship requires a separate naturalisation pathway (7 years of residence). See our Greece residency guide for full details.

European Company and Non-EU Company Ownership

A company incorporated in another EU member state can own Greek property; this is protected by EU Treaty freedoms. Non-EU companies can also own Greek property but face no particular tax benefit that would justify the additional complexity for residential investment.

Ownership Structure Comparison

Structure	Transfer Tax	Rental Income	CGT	ENFIA	Inheritance	Golden Visa Eligible
Individual (EU/non-EU)	3.09%	15–45% progressive	Suspended (15% if reintroduced)	Yes — annual	Cat A–C rates	Yes — in own name
Greek AE/EPE company	3.09%	22% corp tax	22% corp tax	Yes — same rates	Shares via succession	Yes — in company name
Non-Greek EU company	3.09%	22% corp tax (branch/PE rules)	Corp tax	Yes	Company law	No

Practical Tips

Title search is essential: Greek land registration has improved with the national Cadastre (Ktimatologio) programme, but some areas still rely on the older Mortgage Registry (Hypothikofilakio). Ensure your lawyer conducts a full title search before exchange. Historical title disputes and unregistered transfers are not uncommon.

Tax clearance certificate: The seller must produce a tax clearance certificate (Forigrafiko Enimerosy) showing no outstanding ENFIA before any transfer can complete. Buyers should verify this is current.

Objective value: The government's objective value is used for tax calculations (transfer tax, ENFIA, inheritance). Where market value exceeds objective value, the tax base is the higher of the two for some purposes. Confirm which applies for your specific purchase.

Short-term rental compliance: Greece has tightened short-term rental regulations significantly in recent years. All properties listed on platforms such as Airbnb must have an AMA number and be registered. Non-compliance risks fines and delisting.

How Global Investments Can Help

Greece — from Athens urban apartments to Mykonos and Crete villas — is one of our most active markets. Our team can:

• Help you identify properties that align with Golden Visa thresholds or pure investment objectives via our Greece listings
• Connect you with vetted Greek lawyers for title searches, ENFIA analysis, and succession planning
• Model the annual holding costs (ENFIA, income tax) for any target property
• Advise on how Greek property fits within a broader international portfolio

Explore our Greece property investment hub, read our best areas to invest in Greece guide, and review our Greece taxes and fees guide.

Disclaimer: Greek tax law, Golden Visa thresholds, and property regulations change frequently. The information in this guide reflects our understanding as of June 2026 and does not constitute legal or tax advice. Always seek independent, qualified advice specific to your circumstances before making any property investment decision. The value of property investments can fall as well as rise, and you may receive back less than you invested.