Last updated 14 October 2026. By Demetre E. Katsouris, Managing Partner, Katsouris Law Firm.
The short answer: a company can own Greek property, and the government has said the proposed 15% transfer tax for non-EU buyers would apply to individuals rather than companies. That does not make a company the obvious answer. The company pays the same 3.09% transfer tax on the purchase; it pays corporate tax on rent and on any gain when it sells; it must disclose its ultimate owners every year or pay a 15% special tax on the property’s value; it cannot be the applicant for a Golden Visa in the way an individual can; and when the owner dies the shares, not the property, pass to the heirs, which has its own consequences. For some buyers — those holding several properties, those buying with partners, those whose home-country tax position favours it — the structure is right. For a family buying one home, it usually is not.
The structures
The common vehicle is the private company (IKE), which has no minimum capital, limited liability, and can be managed from abroad. A société anonyme (AE) is heavier and used for larger portfolios. A foreign company can also buy directly, but then has to register for tax in Greece, appoint a representative and meet the disclosure rules below; in practice most foreign buyers who want a company use a Greek one.
Formation takes a few weeks: articles before a notary or through the one-stop registry, registration at the business registry, tax number, bank account. The buyer’s identity and source of funds are checked at the bank stage exactly as they would be for an individual.
What the company pays on the purchase
Transfer tax at 3% plus the 3% municipal surcharge, 3.09% of the higher of price and objective value — the same as an individual today. Where the seller is a developer and the VAT suspension applies, the same 3.09%. Notary, registration and lawyer’s fees are calculated the same way. There is no saving at the point of purchase.
If the proposed 15% rate for non-EU individuals is enacted as announced, a company purchase would stay at 3.09%. Whether the final law will contain anti-avoidance provisions for companies controlled by non-EU individuals is unknown. A structure put in place purely to step around a tax that has not yet been written is a bet on the drafting.
What the company pays every year
The special annual property tax. A company that owns Greek property pays 15% of the property’s objective value every year unless it qualifies for an exemption. The main exemption is disclosure: a company whose ultimate individual owners are identified to the Greek tax authority, with Greek tax numbers, is exempt. Companies from jurisdictions on the non-cooperative list, or whose chain of ownership cannot be traced to individuals, pay the tax. The exemption is claimed by annual declaration; miss it and the tax is assessed.
ENFIA. The same property tax an individual pays, with no primary-residence or low-income reliefs.
Corporate income tax on rent. Rent is taxed at the corporate rate, currently 22%, after actual expenses, which is different from the individual bands and the flat allowance. Distributing the profit to the owner as a dividend adds a further 5% withholding, subject to treaty. For a property producing modest rent the individual bands are often cheaper; for a heavily financed or expense-heavy property the corporate deduction of actual costs can be better.
Corporate tax on sale. A company’s gain on sale is taxed as profit at the corporate rate. The suspension of capital gains tax for individuals does not help a company.
The company and the Golden Visa
The Golden Visa is granted to an individual investor who owns the property. Ownership through a company is possible only where the individual holds 100% of the company and the company is a vehicle for the investment, and the application is examined on that basis; it adds a layer of documentation and risk. A buyer whose main purpose is residence should buy in their own name unless there is a specific reason not to.
The company and inheritance
When an individual owner dies, their heirs accept the property in Greece, pay inheritance tax on it, and register it. When a company owner dies, the heirs inherit shares, which are governed by the deceased’s succession law and taxed as shares. Greek inheritance tax applies to the shares of a Greek company. Whether the home country taxes them too depends on its rules. For a family that intends the property to pass to children, the company route needs a plan for the shares, including what happens if one heir is abroad and one in Greece.
The company and the bank
Greek banks open accounts for new companies with foreign owners, but slowly, and with full source-of-funds documentation on the owners. The time to open the account should be built into the purchase timetable, because the price cannot be paid from the owner’s personal account without creating a loan between owner and company that then has to be documented.
When the structure makes sense
Several properties held together, where consolidated management and expense deduction matter. A purchase with partners, where the shares define the ownership and the exit. A home-country tax regime that treats foreign property owned directly worse than shares in a foreign company. A commercial or development project where the company will contract, build and sell.
When it does not: one home for a family’s own use; a Golden Visa purchase; a buyer whose only reason is the proposed 15% tax.
Frequently asked questions
Can I move a property I already own into a company? Yes, by sale or contribution, which is itself a transfer with transfer tax and the engineer’s and notary’s work of a sale. It is rarely worth doing for a single property.
Can the company be registered in another EU country? It can buy directly, but it then needs Greek tax registration, a representative, and the annual disclosure for the special tax. The administrative burden is usually higher than a Greek IKE.
Will a company protect the property from my personal creditors? Limited liability runs the other way: it protects you from the company’s creditors. Your shares are an asset your own creditors can reach.
This article is general information, not legal advice; it reflects the position on the date above and may change.
To compare personal and company ownership for a specific purchase, send us the property details and where you are tax resident: info@katslaw.eu or +30 210 8982 864.
