Frequently Asked Questions
Everything you need to know about buying, selling, and investing in Tinos island properties.
Everything you need to know about buying, selling, and investing in Tinos island properties.
The Greek Golden Visa is a residency permit program for non-European investors, offering visa-free travel within the Schengen zone. To qualify, you must invest a minimum of 250.000€ in Greek real estate or 500.000€ in financial assets. For Tinos Island, the minimum investment is 800.000€ for a single property. The permit is renewable every five years if the investment is maintained.
No, you must visit Greece at least once to get an 'entry stamp' on your passport before applying for the residence permit. Additionally, you must attend an appointment at the Decentralized Authority for biometric data collection, including digital facial images, fingerprints, and signatures. We can assist you in scheduling and preparing for these requirements.
Yes, you can bring your family members with you. They will each receive individual residence permits valid for the same duration as your permit. Eligible family members include your spouse, children under 21, and your spouse's children. Children older than 21 but under 24 may also be granted an independent residence permit. Siotos Real Estate ensures your entire family will be in the application process.
The Golden Visa does not grant the right to traditional employment. However, it allows you to engage in economic activities, such as being a shareholder or a board member of companies established before the date of your application. This applies to third-country citizens who are shareholders or managers of capital companies (S.A., Ltd, Private limited companies). Family members also have restricted access to employment. We can provide detailed advice on permissible economic activities.
You can purchase multiple properties in different locations, provided the total value reaches €800.000. For Tinos Island, the investment must be a single property worth €800.000 with a minimum area of 120 square meters, except for specific exceptions.
You can become eligible for Greek citizenship seven years after the Permanent Residence Permits. Siotos Real Estate’s legal experts can guide you through the steps required to apply for citizenship.
A third-country citizen who owns real estate in Greece through a legal entity, where the applicant owns all stocks or shares, can apply for the 'permanent residence permit for investors'. We can assist you in structuring the purchase to meet the eligibility requirements.
Yes, you are eligible if the combined value of the land and the construction contract is at least €250,000. Siotos Real Estate can help you navigate this process, from purchasing the land to managing the construction project.
No, Greek laws allow dual or multiple citizenships. However, the laws of your home country will determine if you can hold various citizenships.
Yes, as a holder of the Greek Golden Visa, you can travel freely within the Schengen area for up to 3 months within six months, including the right to multiple entries into the country.
If you meet specific conditions, you may be eligible for long-term resident status, which is a prerequisite for applying for Greek citizenship through naturalization.
Not at all. A bank account can be opened within a day as long as all the necessary documents are presented. Siotos Real Estate can help ensure you have all the required paperwork ready.
No, opening a bank account in Greece is free of charge. We can assist you in smoothly navigating this process.
Yes, banks in Greece accept a power of attorney for financial transactions. Your authorized representative can withdraw money from your account by presenting a valid power of attorney. We can guide you in setting up a power of attorney correctly.
Yes, foreign property buyers can obtain mortgages from Greek banks. Siotos Real Estate can connect you with reputable banks and help you understand the available mortgage options.
The decision depends on the interest rates in your home country. If your home country offers lower interest rates, securing a mortgage for your overseas property purchase might be preferable. Additionally, many developers offer installment plans for buying properties.
No, checks are not accepted for real estate purchases in Greece. Payment methods include cash, bank transfers, or bank checks equivalent to money.
When buying property in Greece, expect to cover several costs, including property transfer tax, Land Registry or Cadastre fees, notary expenses, legal fees, engineering costs, and real estate agency charges. Siotos Real Estate provides a detailed breakdown of these expenses and guides you through the financial aspects of your purchase.
No, obtaining a tax number in Greece requires visiting the tax office. However, we can assist you with this process through a proxy service, ensuring you receive your tax number without hassle.
Your tax ID number in Greece does not expire and remains valid throughout your life. This permanent number simplifies your financial transactions and property dealings on Tinos Island. We can help you obtain and manage your tax ID effectively.
While a tax number cannot be quickly reprinted in Greece, it is typically recorded on various official tax documents. If you need help finding it, Siotos Real Estate can help you retrieve it from the necessary documents.
Yes, all property owners in Greece must pay an annual property tax.
When purchasing property on Tinos Island, you'll need assistance from various professionals, including a lawyer, notary, accountant, and engineer. These experts help collect all required documents and conduct thorough legal and technical surveys of the property before its transfer. If you're not in Greece during this process, you can sign a Power of Attorney before a notary in Greece, in your country (with an APOSTILLE), or at a Greek Embassy or Consulate. This allows a third person, usually your lawyer, to act on your behalf and sign all relevant documents.
You or your representative must obtain a Greek tax number from the tax authorities and open a Greek bank account, which is strongly recommended. A preliminary contract, typically drawn up by a notary, may be established between the seller and buyer. This contract usually includes a 10% deposit to reserve the property and details the completion date, payment schedule, and terms. The notary prepares the final transfer contracts. Once all required documents are validated, the property transfer tax is paid (3% on the sale price plus 3% on the result). The notarial act of the property transfer is then signed and registered at the land registry or cadastral office. After purchasing the property, your accountant must declare your ownership to the tax authorities, and you must file an annual tax declaration.
To complete the property transfer, the seller must provide the notary with several documents, including those certifying property rights and the absence of debts to various authorities. As a buyer, you only need your passport, a Greek tax number, and a power of attorney if your lawyer or another third party represents you. Siotos Real Estate ensures you have all the necessary documents in order.
Deposit and payment terms for new developments are subject to agreement between the parties. Most developers offer stage payments, with lump sums paid after each building stage, often with flexibility based on your circumstances. These terms are agreed upon at the time of purchase. Siotos Real Estate can negotiate favorable terms on your behalf.
Yes, since a power of attorney is a significant legal decision and all documents are in Greek, it is obligatory to have a sworn interpreter translate the information before you sign. Siotos Real Estate can arrange for a qualified interpreter to assist you.
The title deed conveyance process duration depends on the seller providing all necessary documents to the notary. Once all documents are submitted and verified, the process is completed with the registration of the notarial act at the land registry or cadastral office. Siotos Real Estate ensures a streamlined process to minimize delays.
You can issue a power of attorney at Greek embassies or consulates. Notary offices inyour country can also prepare one in your language. If your country is a signatory to the Hague Convention, it must have an APOSTILLE and be officially translated into Greek.Siotos Real Estate can guide you through this process.
No, a residence permit is not required to purchase property in Greece. However, having one can provide certain advantages, and Siotos Real Estate can assist you in obtaining a residence permit if desired.
Yes, anyone can sell property in Greece. However, working with a professional company like Siotos Real Estate helps prevent undesired outcomes and ensures a smooth transaction. Siotos Real Estate is a registered company that provides expert assistance throughout the sale process.
Yes, foreign companies can own property in Greece. Siotos Real Estate can help you navigate the legal and regulatory requirements to ensure a successful purchase.
Your company can establish an investment company or a branch in Greece. This allows you to invest company funds in Greek properties. Siotos Real Estate can guide you through this process, working with your lawyer to set up the necessary legal structures.
Yes, there are reputable English-speaking lawyers available. Siotos Real Estate can introduce you to them during your property viewing trip on Tinos Island, ensuring you receive clear and comprehensive legal advice
You will receive your keys once the title deed conveyance is completed, allowing you to move into your new property immediately. Siotos Real Estate ensures a smooth handover process so you can start enjoying your new home without delay.
Yes, Siotos Real Estate provides comprehensive property management services on Tinos Island. Our team ensures your property is well-maintained and managed, giving you peace of mind on the island or abroad.
Property maintenance fees vary depending on the features and facilities of the property complex. More extensive facilities typically result in higher maintenance fees. Siotos Real Estate can provide detailed information about your property to help you budget accordingly.
Many developers and sellers offer furnishing packages. You can purchase a furnished property, or Siotos Real Estate can recommend reputable places to buy furniture. We are pleased to provide a furniture tour as one of our complimentary after-sales services, connecting you with our trusted partners to help you furnish your new home beautifully.
Properties in Greece are freehold, meaning your family members will inherit your properties if you do not leave a will. Siotos Real Estate can connect you with a lawyer to discuss inheritance options and ensure your wishes are fulfilled, providing peace of mind for you and your loved ones.
If you wish to resell your property, you will incur fees for your lawyer, the real estate agency, and an engineer. Siotos Real Estate can provide a detailed breakdown of these costs and guide you through the resale process to ensure a smooth and successful transaction.
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