Property Rules
Restrictions

Restrictions for foreigners acquiring immoveable property in border areas in Greece.

In certain areas qualifying as border area (frontier regions), which are huge importance from a military and security policy point of view, purchasers may acquire property only if they hold official permission. Contracts possibly concluded without such permission shall be treated as null and void. Since the designated frontier areas may be changed by virtue of a presidential decree at any time, any interested purchaser should be advised on the currently applicable law from a lawyer specialized in real estate law before engaging in negotiations. Although the restrictions apply to Greeks and foreigners alike, there is a different procedure for lifting the restrictions:

1) Procedure to be followed by EU-citizens (individuals and legal entities)

Greece has been a member-state of the EU since 1981. All EU-citizens have an equal right to purchase property in Greece. EU-citizens, like Greek nationals, should apply to the appropriate State Department for the lifting of restrictions where the property being purchased is situated.

2) Procedure to be followed by third-country nationals. There are two options:

Third-country nationals (e.g. Russian citizens) should address the permission application to the appropriate State Department .

OR

establish á registered Company in Cyprus and a Branch or a Subsidiary in Greece which will acquire the real estate property.

Our highly experienced lawyers in Greece and Cyprus can assist you with the establishment of both the Company and the Branch.

3) Regions that are 'Not a border area'

Regarding the regions which are characterised as 'Not a border area' there are not any restrictions for EU citizens or third-country nationals. The third-country nationals must have a valid tourist visa in order to be able to proceed with the purchase.