It is acceptable to wire transfer the money from the buyer's bank account in the country of origin to the seller's Greek bank account. Eventually, the Greek Golden Visa holder would open a Greek bank account for personal needs.
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What methods are accepted in paying for a real estate investment in Greece for its Golden Visa program?
What methods are accepted in paying for a real estate investment in Greece in order to be approved for a golden visa? Is it absolutely necessary for the Golden Visa applicant to open a Greek bank account to transfer the money to the seller's Greek bank account? Is it acceptable to wire transfer the money from the buyer's bank account in the country of origin to the seller's Greek bank account?
Answers
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Methods of payment are 1. by POS 2. by bank transfer to the sellers bank account from buyers bank account at origin country 3. by bank cheque paid at sellers name Its not obligatory to open bank account in Greece
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The amount of the property acquisition, as shown in the relevant sales contracts, plus the amounts of the transfer tax, notarial fees and other expenses and taxes have to be officially be proved in the Tax Authorities regarding its legal source and tax clearance. For non-tax residents of Greece, the documentation of the above total amount is not required as long as the money, allocated for the total purchase, comes from the Import of foreign currency. Additionally, the option for the investor to pay in full for the property through wire transfers from their foreign bank rather than by first opening a Greek bank account is an acceptable way of payment too. The third acceptable way of payment according to a recent legal amendment is through credit card. The most secure way to implement a property acquisition process is through a bank check issued from their Greek bank account. Within this framework, the money remains until the last moment in investor’s hands and the property acquisition is implemented in one step by delivering the related Bank check upon signature of the contract. Furthermore, advance or engagement payments or payments for the related expenses are arranged in utmost compliance with the Greek tax system.
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Regarding the transfer of funds, you will need to open a bank account in Greece and receive also Fiscal number from which payment will take place to the seller.
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