One of our readers recently informed us that he has just found out about the fact that he has to register the house he bought on Paros. He suggested that we publish this information again (first published in March 1998) in case there are others who do not know about this requirement.
We asked Alex Tritsibidas, Attorney at Law with offices in Athens and Paros, who had originally supplied us with the information, if he could update it to reflect the current situation. He told us:
If you file a tax return form, you must register your real estate property with the tax office (EFORIA or DOY). You must file a tax return form if:
(a) You have an income in Greece over 1174 Euro (400,000drs) per year or from an agricultural profession, regardless of your citizenship or place of permanent residence or,
(b) You have an income abroad and you live permanently in Greece, regardless of your citizenship or,
(c) You own a motorcycle over 500cc or a car with Greek registration plates, or a boat or private aircraft, or
(d) You buy land and build a house on it, or buy a house, or *
(e) You hire domestic service personnel, or
(f) You work or have shares in a commercial company, or
(g) You have rental income over 587 Euro (200,000drs) per year, or
(h) You are requested to file a tax return form by the tax authorities for any other reason.
* If you buy land or a house regardless of size, you must file a tax return form, including property registration form E9, the following year. You don't have to file for a second time if the house is less than 150 sq.m. But if your house (or flat) is over 150 sq. m. you must file a tax return form every year for income tax purposes. The same applies if you own two houses (or flats) with a combined area of more than 150 sq.m.
To register your real estate property you will fill out form E9 which must be submitted together with your tax return (which is filed each Spring) to the tax office/DOY. In 2002 this will be between May 2nd and 22nd depending on your "AFM" (individual tax registration number). The registration is free. If you have not filed a tax return before, you will first need to make an application at the tax office to be assigned an "AFM" .
Note that you cannot sell unregistered property and a late registration fine is payable at the time of the (late) registration.
This registration is different from the "Large Property Tax" which is payable only if your property is worth over 243,580 Euro (83 million drs) or 487,160 Euro (166 million drs) if jointly owned by husband and wife.
Also, if you buy property and/or build a house, you should be aware that you need to be able to prove that you brought funds into Greece from abroad (if this is the case) or these funds may be considered as taxable income in Greece. So keep the "pink slip" from the bank as proof.
For further information or legal services you can contact Alex at email@example.com.. Tel: 02840-22481, Fax: 02840-23131.