Should you decide on the purchase of a property, the next step would be for Apollonia's team to help you by advising on initial legal procedures and the various persons involved, such as Lawyers, Public Notaries, Accountants etc.

1. Firstly we need to have a complete information concerning the prospective buyer(s) which includes:

- The passport copy(ies) and
- The fill up of a form (IPP), which includes information concerning your personal data.

2. We also need to know who will be your local "representative/lawyer by proxy". For this, you can either:

- Find someone by yourself or
- Through your local consulate or
- You can use the lawyers that represent and are used by most of our clients.

In order to avoid the extra costs, it is suggested to choose your representative lawyer from the same prefecture, to which the real estate property belongs.

The lawyer by proxy will check the deeds before signing the property purchase contract will also sign on your behalf and undertake to deal with the local authorities.

Of course, there is always the option of the actual client him/herself signing the property purchase contract should he/she be here in Crete.

3. This person, once defined, will firstly have to get a Power of Attorney from you, in his/her name, which will allow him/her to act on your behalf.

A Power of Attorney can be drawn up in two ways. Either:

- Locally here on Crete or
- In your home country. In this case, the Power of Attorney will have to be signed there in the presence of a Notary Public or in the Greek embassy/ consulate and then sent to us for the formal translation. We can send you a draft copy of this Power of Attorney, where you will need to fill in the name and details of your representative and then go to sign and formalize it.

4. For money brought or transferred into Greece you could use one of the following ways:

- To your bank account, which you can open during one of your visits here and then fax directly to the bank instructing them about the amount which we can get paid.
- Pay us in cash.
- To our bank account.

In all above-described cases we issue the relevant receipts.

We also obtain the relevant official Import Document (pink slip-Imported funds) needed to avoid income taxation.

Note: If you bring money in cash, you should declare it at the point of entry (airport, etc.) and receive the relevant import Document (pink slip-Imported funds).

5. Taxes & Fees

- Upon signing the final property purchase contract, client will be liable for the payment of the relevant  V.A.T. wich comes up to   19% of the assessed property value.
- In addition to the above, the client will also pay the fees of the lawyer and the notary public which are estimated at approx. 3-4% of the assessed property value.
- There are no property taxes in Greece unless the value of the property is very high.
- There are only minimal community charges in Greece. These are estimated at approximately 0.030 % on the assessed value of the property and are included as a separate item on the electricity bill.
- Taxes related to the Rental Income of a house/apartment are generally limited. It depends on the type/category and the size of the property (See attached. Tax rental income document).

6. Procedures & Payments Schedule (in Euro):

Stage 1: Upon  signing the PRELIMINARY PURCHASE PRIVATE AGREEMENT, 20% in advance.

Stage 3: After the completion of bricks and plasters , 20%

Stage 4: After the complation of the pavements , 20%

Stage 5: After the completion of the outdoors and windows , 10%

Stage 6: With the completion of the house , 10%