Opening a Greek bank account is always suggested to new investors but it’s not necessary. Having a bank account in Greece will help you to proceed with the payments of the professionals you will need during the property purchase process and will also provide better and easier proof to the tax authorities about the sources of your funds.

Moreover, the greek bank account will make all the payments easier for electricity, internet and water supplies and also will help you receive the money from possible future short term leases of your property (Airbnb, booking.com, Expedia etc.).  Nevertheless, having a greek bank account is not necessary as you can always complete the property purchase by using your bank accounts abroad.

You don’t have to be in Greece during the property purchase procedure. All you need is to make a power of attorney to a trusted person in Greece. Your lawyer is maybe the most suited person because he or she is the one that has the special knowledge of every step of the procedure.

There are three ways to give a power of attorney:

a) Before a notary during your visit in Corinth. We can arrange an appointment for you.
b) Before the Greek Ambassador or the Consul of your city. We can arrange an appointment for you.
c) Before a notary in your country. This PoA will need an APOSTILLE stamp and an official translation afterwards to greek. According to Greek law, lawyers are official translators.