Greek islands are the ultimate status symbol, evoking images of sunglass sporting shipping magnates sipping champagne on the deck of enormous yachts. In reality, Greek islands are relatively affordable, costing as little as two million dollars - less than a ski chalet in Aspen or a walk up... + Read More
on the Upper East side. The hot dry summers in Greece are perfect for lazing around your island, sipping Ouzo and skinny-dipping in the Mediterranean. Some private islands in Greece are available on a freehold basis. If you require tourist amenities while visiting your private island, winter is pretty quiet in Greece as most of the tourist infrastructure goes into hibernation.
Greece Foreign Ownership Info
Purchasing an island in Greece is relatively straightforward. Regardless of nationality, anybody can be a property owner. The only exceptions occur when purchasing an island near a national border or military land. Non European citizens will not be granted permission to buy near national borders.
In order for anyone to purchase property in Greece a tax number or AFM - as it is known in Greece - must be obtained. AFM's are easily acquired and can be issued at any tax office with a valid passport. Further the funds for all property purchased in Greece must be accounted for with a "pink slip" that shows where the funds originated. If the origin cannot be accounted for or there is no pink slip the government will assume the money as income and tax it accordingly.
Foreign buyers should retain a local lawyer with knowledge of land and real estate law. All the paperwork involved in the purchase of a private island will be in Greek, so it’s necessary to have someone working for you who can translate and decipher the red tape. - Read Less