Companies that have a “permanent resident” status in Greece, those that are incorporated or are effectively managed or controlled from Greece are subject to Greek taxation. 

The values of real estate which constitute the basis for calculation of all kinds of real estate taxes, duties and fees (for registration, lawyer, public notary) are computed in Greece according to two different systems.

a) In most areas in Greece the system of so-called 'objective values' is applicable. The objective value of the asset in question is calculated by the tax office pursuant to a standard method set by the state. The objective values are a system of unified values which are calculated based on objective criteria such as the location and construction of the specific real estate assets. These values are, based on experience, 20% to 50% lower than the normal market values of the assets. That leads to the parties often stating, for fiscal purposes, the objective value as purchase price in the transfer contract.

b) Only in few areas in Greece has the system of 'objective values' not  been applicable yet. The system applicable to these cases is the so-called system of 'comparative values.' According to this system, the competent local tax authorities estimate the value of real estate asset taking account of the values employed in past contracts on similar assets located in the same or close-by area.

Note: As far as the procedure of buying a company ,whose only property is the building or land on sale, is regarded the steps to be followed are different from the above mentioned.