Can anyone buy a property in Corfu Greece ?
Restrictions on property buying in
Corfu have been lifted since Greece joined the EU. If you are an EU citizen you can freely purchase property in your own right. Non EU citizens have the option of forming an off-shore company which is generally easy and cheap to do. The property will then be purchased in the name of the company.
Do I need a resident's permit to live in Corfu island ?
If you work or buy a car, you need a permit. These are obtained from the Aliens Police. It is anyway a good idea to get one.
Do I have to pay tax on my property ?
There is no annual property tax in
Greece . However, as a property owner you will have to fill in an annual tax return (an accountant will do this on your behalf). As long as you have proof that the purchase was made with funds coming from abroad, and you are not working or otherwise receiving an income locally (for example, renting your property), you will not pay any tax.
How do I prove that I brought the money into Greece ?
Your bank in
Corfu will issue you with a 'pink slip', or some other verification that the money for the purchase was brought in from abroad. Your accountant will use this when filling in the tax return.
How do I pay if I agree on a purchase ?
A deposit of 10% is required to hold the property until the contract is ready go through. The deposit is kept in a trust account and is only released on the solicitor's advice..
Do I need a resident's permit to live in Corfu ?
If you work or buy a car, you need a permit. These are obtained from the Aliens Police. It is anyway a good idea to get one