Greece Retainer Agreement

PROCEDURAL STEPS - GREECE
REAL ESTATE ACQUISITION & PERMANENT RESIDENCE APPLICATION

Engagement
1. Signing the Retainer Agreement and settling initial fees
2. Power of Attorney (PoA) for our Lawyers
3. Obtaining Tax Number in Greece (by our Lawyers with the PoA
4. Optional step : Bank account opening (at the sole discretion of the banks, requirements and documentation varies for each bank)

Real Estate Acquisition
5. Choosing the Real Estate for investment
6. Initial due diligence on the chosen property by the Lawyers
7. An initial deposit for the property with a preliminary agreement
8. Conducting detailed due diligence on the property by the Lawyers and preparing documents for the Sales and Purchase
9. Issuance of Tax Declaration for the property and payment of the Property Transfer Tax by the Buyer
10. Payment of Notary Fees and signing “Sales and Purchase Agreement” at the Notary
11. Payment of Land Registry Fees and registering the property at the Cadastral Office

Permanent Residence (PR) Application
12. Application for Permanent Residence in Greece
13. Issuance of Digital Residence Certificate (estimated within 45 days of initial application)
14. Biometric appointment visit at the Immigration Office (approx. within 2 months)
15. Issuance and delivery of PR Cards valid for 5 years (card validity varies for Minors)

DOCUMENTS CHECKLIST - GREECE
PERMANENT RESIDENCE APPLICATION & BANK ACCOUNT OPENING

Permanent Residence (PR) Application
- Passport Copies of all family members (all pages including, properly scanned coloured copy)
- Birth certificates of all family members (apostiled and officially translated into English or Greek)
- Marriage Certificate (apostiled and officially translated into English or Greek)
- Power of Attorney for all family members
- Proof of the money transfers for the investment (swift messages and payment receipts)
- Confirmation of Real Estate investment in Greece (Land registry certificate)
- Payment of PR application fees
- Health insurance for all family members

Bank Account Opening
Documentation and requirements vary for each bank and the account opening decision is at the sole discretion of the bank.

Tax Number in Greece
Personal Income Tax Return (AP, OT)
Address Certificate (AP, OT)
A recent utility bill; water, electricity etc. (OT)
A recent mobile phone number bill on clients name (OT)
Bank reference letter showing the account balances (OT)
Bank account statement of the last 6 months (OT)
Employment Certificate showing the position, salary, duration of employment; if applicable (OT)
Retirement Certificate; if applicable (AP, OT)
For business owners: if applicable (AP, OT)

Certificate of incorporation
Shareholding certificate
Memorandum of Articles
Corporate Income Tax Return

AP : Apostilled
OT : Officially translated into English or Greek if in any other languages

GREECE PERMANENT RESIDENCY APPLICATION
RETAINER AGREEMENT

Program Overview:
The Immigration and Social Integration Code of Greece (Law 4251/2014, Government Gazette 1, no 80) gives the possibility of granting residence permits to third country nationals and to the members of their families, who proceed to the purchase of real estate property in Greece, the value of the one exceeds 250,000 Euro in conversion properties (from commercial use to residential use), 400,000 Euro or 800,000 Euro in designated areas. By decision of the Secretary General of the Decentralized Administration, residence permit for five years, subject to renewal, is granted to a third country national.

The above permit may be renewed for an equal duration, each time, provided that the real estate property remains in the ownership and possession of the third-country national. Periods of absence from the country shall not disrupt the renewal of the Residence permit.

Family members:
Third-country national may be accompanied by the members of his family to whom, at their request, an individual residence permit is issued, that expires together with the residence permit of the sponsor. Family members shall mean:
- the spouse
- the lineal descendants of the spouses or either spouse, who are under 21 years old.
- the lineal ascendants of the spouses.

Provisions of timeframe:
Under normal circumstances, the Permanent Residence Certificate shall be issued by the authorities digitally within two months from the submission of all documents. However, the average processing time of the physical residency cards may take longer.

Notice:
The residence permits do not establish the right of access to any form of employment in Greece.

Retainer:
Client retains Attorney as Client’s counsel to represent, appear and act on his behalf with regard to obtaining residence by real estate investment in Greece as described by Law. The retainer conditions are deemed fulfilled when the Clients receive their PR Cards.

Nature of Services:
Services to be rendered by Attorney under this Agreement shall include all actions necessary to complete and competently represent and protect the interest of Client.

Control in the Registry office for mortgage and actions (if any) of the property and issue of this control result.
Monitor and amend the process of the sales and purchase contract
Control, reassure and defend the property status to be free of any debits
Control, reassure and defend the property status to be free of any urban code violation (this service will be carried out by an associate CIVIL ENGINEER)
Proceed with all necessary actions to the TAX authorities regarding the declaration of the ownership of the property (this service will be carried out by an associate Accountant free of any extra cost)
Submit the residence application and attend meetings with government officials during the process if and when needed
Provide legal advice to client on all matters relating to the process.
Facilitate to open the Bank account for the Client. Bank account opening procedures varies from bank to bank and the decision remains under full discretion of the banks.

First Time Application - Service Fees and Charges:

Professional and Legal Fees:
Legal Fees: (Minimum 5,000 EUR + VAT)
Main Applicant: EUR 3,000 + VAT
Spouse: EUR 1,500 + VAT
Each Dependent Child under 18 : EUR 500 + VAT (Over 18 : 1,000 EUR + VAT)
Each Parent of Applicant or Spouse : EUR 1,000 + VAT

Professional Fees (Minimum service fee 5,000 EUR):

Third party Fees and Disbursements: EUR 1,000

PR Card Renewal Applications - Service Fees and Charges:

Professional and Legal Fees:
Main Applicant: EUR 2,000 + VAT
Spouse: EUR 1,000 + VAT
Each Dependent Child : EUR 250 + VAT
Each Parent of Applicant or Spouse : EUR 500 + VAT

Payment Terms:
Client agrees the above mentioned fee schedule and terms by signing this agreement. %50 of legal and professional services fees shall be paid upon signing this agreement. Balance of the fees to be paid upon receiving the residence certificate approval (digital residence certificate). All payments shall be made to the undersigned Lawyer or to his/her delegates as instructed.

Necessary Services and expenses NOT Included:
- Government PR Application and Card Fees :
Currently 2,016 EUR for the main applicant, 166 EUR for each dependent. Subject to change anytime.
- Basic Health Insurances:
Between 150 - 250 EUR (per person - approximately)
- Real Estate Closing Costs (Estimate, may vary based on the property and municipality)
Property Transfer Tax: %3.1
Notary Fees: %1.2
Land Registry: % 1
( Please refer to cost table for total costs)

Other Costs:
Notary, legalization and translation of documents and out of Athens travel expenses

Termination:
This Agreement may not be terminated by either party until the final disposition of the case set forth.

LAWYER / CONSULTANT

Full Name:

Bar Association / No:

Phone # (M / O):

Address:

Email:

Date / Signature

CLIENT