Odges & I have just had an offer accepted for an apartment in Greece.
We are to send money to a greek bank account that we set up a year ago and wonder what effect the euro's worth will be if we send money over to pay for the apartment
Alos what effect potentially does the failing Greek economy have on us purchasing the property?
Thanks in anticipation of your help
make sure that you use a company like Hifx, you will get a better rate because its a lump sum, big saving on a house purchase, dont forget to get pink slips from your greek bank once purchase has gone through, these will be needed for your tax return.
Message posted by Daniel&Sylvie on 24 April 2010 at 11:49pm - IP Logged
When buying the apartment on both names, be sure the money arrives to a greek account in both names and comes from a foreign account also in both names.
Later when your accountant fills out the first tax declaration for each of you as (partial) house owners in Greece, he will ask for the so-called 'pink slip' which you can obtain from your Greek bank. The pink slip is a transaction report that proves where the money came from.
Should the pink slip show all the money coming from an account only in one name, then the tax office COULD conclude the purchase money of the other was earned in Greece and therefore subject to Greek income tax.
You will want to make two transfers.
The first transfer serves to cover the purchase price as it is going to be recorded in the deed, plus notary and other official costs. This is the transfer amount for which you will obtain a pink slip.
The second transfer serves to cover costs that will not be mentioned in the tax declaration.
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