Greece Real Estate
By investing in real estate in Greece and Cyprus you can obtain permanent residency or citizenship and benefit from higher Security, Business opportunities, beneficial Tax Management and your family can get high European Education as well as great EU Health care
VAT 0% on the purchase of real estate in Greece
Greece has suspended payment of VAT on real estate purchasing for a period of 3 years in Greece (04.03.2020)
The Greek Ministry of Finance has approved a three-year suspension of VAT on real estate.
This is a very important decision for the core market.
The Deputy Minister of Finance signed a decision explaining the procedure for granting VAT deferral. It also describes the procedure for resolving the issue of those property owners for whom the tax has already been deducted, but in the light of new circumstances, it fell under the deferral.
The Ministry of Finance of Greece decided to change the procedure for paying VAT (FPA) on real estate in Greece to revitalize the market and provide significant advantages to owners of small and medium-sized real estate objects. The delay, combined with the reduction of the ΕΝFIA tax (on real estate ownership) and the creation of incentives for the modernization of buildings, will lead, according to the relevant ministry, to the modernization of the construction industry.
Following the implication of this provision, a significant rise and boost is expected in the purchase-and-sales of real estate properties, which will be burdened only with Transfer tax (ΦΜΑ), amounting approximately at 3,09%