Dreaming of owning a villa with turquoise sea views or a charming home nestled in Corfu’s olive groves? As a foreign national, the prospect of buying property in this idyllic Greek island is entirely achievable. While the process involves specific legalities and documentation, understanding the steps can make your journey to homeownership in Corfu smooth and rewarding. At Corfu Homes, we specialize in guiding international buyers through every stage, ensuring a seamless and transparent experience.
The Legal Process: A Step-by-Step Overview
Buying property in Greece as a foreign national, particularly for non-EU citizens, involves a few key stages:
- Appoint a Local Lawyer: This is a crucial first step. Your lawyer will conduct due diligence on the property, ensuring there are no legal encumbrances, building code violations, or outstanding taxes. They will verify property titles and ensure all paperwork is in order.
- Obtain a Greek Tax Number (AFM): An AFM (Arithmos Forologikou Mitrou) is essential for all property transactions in Greece. This can be obtained from the local tax office.
- Open a Greek Bank Account: You will need a Greek bank account to transfer funds for the property purchase and to pay any associated taxes and fees.
- Property Survey: A technical survey by a civil engineer is highly recommended to confirm the property’s legal status, size, and building conformity.
- Notary Public: The property transfer contract ( συμβόλαιο – symvolaio) must be signed before a public notary. The notary drafts the contract, verifies all legal documents, and ensures the transaction is conducted according to Greek law.
- Land Registry: After the contract is signed, it must be registered at the local Land Registry ( Υποθηκοφυλακείο – Ypothikofylakeio or Κτηματολόγιο – Ktimatologio). This officially transfers the ownership to you.
Residency Rules
Owning property in Corfu does not automatically grant you residency rights if you are a non-EU citizen. However, Greece offers a “Golden Visa” program, which grants a five-year residency permit to non-EU citizens who invest a certain amount in real estate. This permit is renewable and allows travel within the Schengen Area.
How Corfu Homes Handles Everything for You
At Corfu Homes, we understand that navigating a foreign property market can be daunting. That’s why we offer a comprehensive service to support you at every step:
- Property Sourcing: We help you find the perfect property that matches your criteria and budget.
- Legal and Technical Liaison: We connect you with trusted, independent lawyers and civil engineers who specialize in real estate transactions for foreign nationals.
- Administrative Assistance: We guide you through obtaining your AFM and opening a Greek bank account.
- Negotiation Support: We represent your best interests during the negotiation process.
- After-Sales Service: Our relationship doesn’t end with the sale. We can assist with property management, renovation contacts, and settling into your new Corfu home.
Our goal is to make your property purchase in Corfu as stress-free as possible, allowing you to focus on the excitement of owning a piece of this beautiful island. For any further questions, please don’t hesitate to check our FAQs or contact us directly.
