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Guide to Inheritance Tax in Greece

Purchase Tips

06.03.2024

Family in Rhodes

Inheriting a home in another country can feel daunting. Every country has its own rules, and the thought of dealing with a foreign legal system is enough to put anyone off. The reassuring part is that inheriting property in Greece is a well-trodden path. Most of it can be handled without you ever needing to leave home. Below are answers to the questions international owners ask us most often.

Which Law Decides Who Inherits?

For most cross-border cases in Europe, the question of which country's law applies is answered by the EU Succession Regulation (No. 650/2012). As a default, the law that applies is the law of the country where the deceased was habitually living at the time of death. There is also an important option. A person can choose the law of their own nationality to govern their estate, as long as they say so clearly in their will. So a Dutch citizen living in the Netherlands, who owns a house in Greece, will usually have Dutch succession law decide who inherits. The Greek side of the process is then handled by a Greek notary. Who inherits is decided by Dutch law. The transfer of the Greek property is completed in Greece. This is general guidance. The right answer for your situation depends on where you live, your nationality, and what your will says. It is always worth checking with a specialist.

What Happens If There is No Will?

Without a will, the same Regulation still decides which law applies. In most cases, that is the law of the country where the deceased was habitually resident at the time of death. To give an example: for a Dutch national who was living in the Netherlands, Dutch law would normally govern the inheritance. If that same person had been living habitually in Greece, Greek law could apply instead.

How is Greek Property Inherited When the Heirs Live Abroad?

In Greece, property passes to the heirs through a notarial deed of inheritance acceptance. Each heir needs a Greek tax number, known as an AFM. It is free to obtain. The notary will ask for a set of documents. These usually include a death certificate and a certificate confirming the heirs, often called a certificate of inheritance. These are normally drawn up in the deceased's home country, carry an Apostille stamp, and are officially translated into Greek. The notary then files an inheritance tax declaration, and the tax office calculates any tax due. One detail is worth knowing. The tax is calculated on the property's objective value, which is the value set by the Greek authorities for tax purposes, rather than its market value. The objective value is usually the lower of the two.

How Much Inheritance Tax Will I Pay in Greece?

Greece is comparatively gentle when property passes to close family. Close relatives, such as a spouse and children, benefit from a generous tax-free allowance, with a reduced rate on anything above it. Surviving spouses and minor children benefit from an even higher exemption again. The practical result is that when a home passes to close relatives, there is often little or no inheritance tax to pay. More distant relatives and unrelated heirs are taxed at higher rates, with smaller allowances. Allowances and rates are set by law and can change over time. For the current position in your own circumstances, it is best to confirm before relying on any figure. Our in-house legal team can check this for you.

Do I Need to Be in Greece to Accept an Inheritance?

There is no need to travel to Greece to accept an inherited property. You can sign a Power of Attorney that authorises an Elxis lawyer to represent you and complete the procedure on your behalf. The whole acceptance can then be handled from our side, while you stay at home.

Is There Double Taxation on an Inherited Estate?

Many European countries have signed treaties to avoid taxing the same estate twice. In practice, this often means that property located in Greece is taxed in Greece, and may then be exempt or credited against tax in your country of residence. The rules depend entirely on your home country. It is wise to speak to a tax adviser there about your own situation.

What if I would rather sell the property?

Once the inheritance has been accepted, the property is yours to keep, to rent out, or to sell. If you decide to sell, our legal team can manage the resale from start to finish, alongside our sales team. You would have the full Elxis service behind you for both the legal and the practical side.



Disclaimer: This article is general information and is not legal or tax advice. Inheritance and tax rules can change and depend on your personal circumstances, your nationality, and your country of residence. For advice on your own situation, please consult a qualified legal or tax professional. The Elxis legal team would be glad to assist.

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