New Draft Investment Law 2013-2016

• 100% of the grant (50% today) by the approval of an investment and the provision of guarantee letter.

• Applications to join will be continuous.

• The license will be a multilicence which will be filed and approved within 45 days or else they will enter into force immediately.

• For large investments (over 50 million euro is given a choice of incentives (tax exemptions, subsidies, etc.).

• For large investments reduced the sanction imposed by the House of 150 million. Euro to 50 million. euro.

• Establishing a central authority, for the acceleration of authorisation procedures for so-called strategic (over 2 million) and for smaller investments to the General Secretariat of strategic and private investment (essentially joined the 2 services). Invest In Greece will act as single point of contact for investors.

• Introduced the institution of Specific Spatial Development Plans Investment Strategies , presidential decrees for the spatial identification, investment identity, land use, siting and the concession of the seashore and beach for strategic investments. Approval will be given by the Interministerial Committee on Investment Strategies.

Villa Rose is creatively and spaciously designed in a plot of 360,00 m². The stone-built villa offers a generous 100,09m²of accommodation. The villa also has the addition of a roof terrace, accessed by an external stairs. This could be transformed into a gym, a roof garden or simply to use as a ‘magical and romantic’ spot to sit and admire the sun set on the Aegean Sea. The one-storey villa offers the following accommodation:
 
Ground Floor: American-style fitted kitchen and Large living/dining area,fireplace. French doors open onto the terrace with its stone arches and pergolas providing access to the 24,00 m² swimming pool and garden. Two double bedrooms with ensuite and terrace with direct access to the garden and pool.

The adjoining garden offers the possibility to grow roses as well as many varieties of aromatic Mediterranean plants such as Bougainvilleas and Jasmine, with minimal maintenance, as well as providing a place to sit and relax whilst enjoying the warm air and the beautiful views.There is also an outdoor parking space.

Price: 230.000 euros

Villa Daphne

Villa Daphne is situated in a peaceful and lovely location. The traditionally designed stone-built villa offers a sanctuary from everyday life with easy outdoor living and comfortable cool interiors. Set in a large plot of 305,00 m², the accommodation of 77,30 m² includes:
 
Ground Floor: American-style fitted kitchen and Large living/dining area,fireplace. French doors open onto the terrace with its stone arches and pergolas providing access to the 24,00 m² swimming pool and garden. Two double bedrooms with two bathrooms one ensuite and terrace with direct access to the garden and pool.

The adjoining garden requires minimal maintenance and offers the possibility to grow many varieties of aromatic Mediterranean plants such as Bougainvilleas and Jasmine, as well as providing a place to sit and relax whilst enjoying the aromas, the warm air and the beautiful views.There is also an outdoor parking space.

Price: 210.000 euros

Rethymno

Why Crete?

There are several reasons why so many people have decided to make Crete their home. Below we have listed just a few, but of course each person has their own personal reasons for falling in love with the island! If you are still just dreaming about owning a beautiful villa or apartment in Crete why not contact us at Action Constructing so as to explain you how easy it is to buy a house here!

• Crete has one of the best climat in Europe with short durated Winters.
• Cretan countryside is varied and astonishingly beautiful.
• Crete has rich culture and historical heritage dating from ancient times till the present day.
• Crete boasts the lowest crime rate in Europe.
• There are plenty of things to see on the Island including archaelogical regions, museums, natural attractions and traditional Cretan villages.
• The local people are friendly and preserve their culture and traditions.
• Greece is part of the European Union and therefore can provide free health care to fellow EU residents.
• Crete has some of the best beaches in Europe and many have been awarded with the Blue Flag for their crystal clear waters.
• The Cretan cuisine is very nutritional and healthy and has been cited as the major factor influencing the longevity of the Cretan people.
• Cretan vegetables and fruits are generally cultivated locally and are plentiful and fresh.
• Access to the island has become easier in the past few years with increased flights. A winter programme for direct flights to the airports of Chania and Heraklion from major international airports looks like a possibility for the future.
• Crete has many sports for the adventurous including water sports, hiking, horse riding, bungee jumping and golf.
• The cost of living is relatively low making it an ideal retirement destination.
• Crete will not suffer from over development as it has strict building regulations.
• Crete has excellent investment potential with increased capital gains predicted for the future.
• Property prices in Crete, although rising, are still affordable.
• Crete is the idael place to live in!

Buying Procedure

How To Buy Property In Crete

Buying property in Crete is a relatively straight forward procedure. The steps that need to be followed are quite basic and are outlined below.

·         Appoint A Greek Lawyer

In Greece the buyer must have his own independent lawyer based in Crete who will assist him during the house purchase procedure and represent him in all legal matters pertaining to the purchase of his house in Crete. To this end it is recommended that the buyer gives Power of Attorney to his chosen lawyer enabling him to act on his behalf when the purchaser is not himself in Crete. If the buyer doesn't know a local lawyer Action Constructing can recommend a selection of reputable lawyers who have experience in matters of real estate conveyancing in Crete and are fluent in foreign languages.

·         Appoint A Greek Public Notary

In order for a property purchase agreement to be valid here in Crete a public notary must be appointed. The public notary drafts the official purchase contract and it must then be read, understood and signed in his or her presence by the buyer and seller or their legal representatives. The public notary does not represent the interests of the Buyer as this is the role of the buyer's lawyer, but the notary public is responsible for the verification and registration of the purchase transaction in the public records, known as the Registry Of Mortgages, so that the buyer acquires the official title deed of the property. Action Constructing can either recommend a number of notaries for the buyer to select or immediately assign the one responsible for the drafting of the official purchase contracts of a specific project subject to the buyer's approval.

·         Property Title Deeds In Crete

Title deeds of ownership in Crete are held at the Registry of Mortgages. The vendor must supply the buyer with a copy of the title deeds of the property in question. This is often done with the help of the buyer's lawyer who is then obliged to investigate the title deed to ensure that:
1.       The vendor holds the absolute deed of the property
2.       There are no claims against the property or encumberances
3.       The vendor has paid his property tax
4.       The property was built strictly according to planning and building permissions
Only if the title deed is found to be clear will the buyer's lawyer recommend that he proceed with signing of the official purchase contract.

·         Greek Tax Role Registry No.

A tax role registry number (pronounced "a-fee-mee") must be issued for the buyer to be able to proceed with any transaction including the buying of a house in Crete. The tax role number can be applied for by the buyer's lawyer in their absence as long as the lawyer has power of attorney for their client. The tax role number is issued by the Inland Revenue.

·         Transfer Tax in Greece

The previous tiered transfer tax paid by anyone buying property in Crete has been replaced by a VAT payment of 23% of the objective value of the property.

·         Transfer Of Title Deeds At The Registry Of Mortgages

The buyer's attorney makes sure that the title deed is transferred to the buyer's name by obtaining the relevant certificate from the Registry of Mortgages.

·         Opening A Bank Account In Crete

Greek banks offer a wide variety of financial services. It is advisable for the buyer to open a bank account with one of the major banks here in Crete. This can be done with the help of the buyer's lawyer. Subsequently money for the property purchase can be transferred from abroad into this bank account. Withdrawals from the bank account can be made by the buyer's lawyer on the buyer's order. Cretan banks issue "pink slips" for funds that originate from abroad. These pink slips must be requested from the bank by the buyer or his Greek attorney and allow him to prove that the property has been paid for using money transferred from abroad and not earned here in Crete. The pink slips are essential for the buyer's yearly tax declaration and should cover the "assessed value" of the property (see below for details).

·         Crete Property Insurance

Property in Crete can be insured through insurance companies. Property insurance contracts cover all types of possible damages i.e. fires, earthquakes, natural disasters, storms, theft, third party liability etc. Insurance costs are normally billed bi-annually though annual payments are also acceptable. Property insurance is not obligatory, but if you have taken a mortgage for your home in Crete from a local bank they normally require that you use an insurance company stipulated by them for your Crete property insurance.

·         Security Of Property In Greece

The ownership of property in Greece is secured by the state authority called the Registry of Mortgages. Titles to your property are kept there, where all encumbrances on properties are stored. Property is filed under the names of the owners and lawyers are entitled to check the property belonging to any individual or company. A title search is performed in order to find out if there are any claims, bonds or encumbrances on the property. A title search will also show you if the property was properly transferred.

Villa Lily

Villa Lily is a very spacious unique and luxurious villa within its own plot. The traditionally designed stone-built villa is set in the surrounding area of the village of Xirosterni in fully landscaped grounds of 2.016 m2. The accommodation of 110,48 m² includes:
 
American-style fitted kitchen and Large living/dining area,fireplace. French doors open onto the terrace with its stone arches and pergolas providing access to the 26,00 m² swimming pool and garden.Three double bedrooms and two bathrooms.

The adjoining garden offers the possibility to grow roses as well as many varieties of aromatic Mediterranean plants such as Bougainvilleas and Jasmine, with minimal maintenance, as well as providing a place to sit and relax whilst enjoying the warm air and the beautiful views.There is also ajn outdoor parking space.

Villa Jasmine

Villa Jasmine has been designed in a plot of 201,00 m² to provide comfortable cool interiors and easy outdoor living. The 78,80 m² stone-built villa is two-storey and offers the following accommodation:
 
Ground Floor: American-style fitted kitchen and Large living/dining area,fireplace. French doors open onto the terrace with its stone arches and pergolas providing access to the 24,00 m² swimming pool and garden.

First Floor: Two double bedrooms with ensuite and terrace overlooking the garden and pool.

The adjoining garden requires minimal maintenance and offers the possibility to grow many varieties of aromatic Mediterranean plants such as Bougainvilleas and Jasmine, as well as providing a place to sit and relax whilst enjoying the aromas, the warm air and the beautiful views.There is also an outdoor parking space.

Villa Lia

Villa Lia is a traditionally designed stone-built villa that offers 80,34 m² of accommodation set in a plot of 267,00 m². The feeling of space is enhanced by the extensive terrace and the garden.
 
Ground Floor: American-style fitted kitchen and Large living/dining area,fireplace. WC. French doors open onto the terrace with its stone arches and pergolas providing access to the 24,00 m² swimming pool and garden.

First Floor: Two double bedrooms and terrace overlooking the garden and pool. Bathroom.

The adjoining garden requires minimal maintenance and offers the possibility to grow many varieties of aromatic Mediterranean plants such as Bougainvilleas and Jasmine, as well as providing a place to sit and relax whilst enjoying the warm air and the beautiful views.There is also an outdoor parking space.

Villa Nefeli

Villa Nefeli is situated in a peaceful and lovely location. The traditionally designed stone-built villa offers a sanctuary from everyday life with easy outdoor living and comfortable cool interiors. Set in a large plot of 340,00 m2, the accommodation of 82,75 m2 includes:
 
Ground Floor: American-style fitted kitchen, Large living/dining area,fireplace and Double bedroom with fitted wardrobe. WC. French doors open onto the terrace with its stone arches and pergolas providing access to the 24,00 m² swimming pool and garden.

First Floor: Double bedroom with ensuite and large terrace overlooking the garden, pool, olive grove and the sea.

There is also an outdoor parking space.

Villa Lyto

Villa Lyto is a traditionally designed stone-built villa that offers a sanctuary from everyday life with easy outdoor living and comfortable cool interiors. Set in a large plot of 348,00 m2, the accommodation of 82,42 m2 includes:
 
Ground Floor: American-style fitted kitchen, Large living/dining area,fireplace and Double bedroom with fitted wardrobe. Bathroom. French doors open onto the terrace with its stone arches and pergolas providing access to the 24,00 m²swimming pool and garden.

First Floor: Double bedroom with ensuite and large terrace overlooking the garden, pool, olive grove and the sea.

There is also an outdoor parking space.