Purchasing property abroad often involves complex administrative procedures requiring the buyer’s physical presence. In Greece, however, the law allows the entire process to be handled remotely by authorizing a local lawyer. The key instrument for this is the Power of Attorney (PoA). This document legally empowers your representative to act on your behalf, but it also carries potential risks if not drafted correctly. In this article, we’ll cover how to draft and certify a power of attorney for property in Greece, what clauses it should contain, and how to manage the risks.
Content
What is a Power of Attorney and Why is it Important?
A Power of Attorney is a legal document through which you (the principal) grant another person (the attorney-in-fact) the authority to perform specific actions on your behalf. For property transactions in Greece, this is a standard practice for foreigners because it:
- Allows for acquiring property without being physically present.
- Saves time and travel expenses.
- Enables a local lawyer to handle all administrative and legal steps.
Procedure for Drafting and Certifying a Power of Attorney
- Lawyer Selection – Find a Greek lawyer specializing in real estate law.
- Document Draft – The lawyer drafts the text in Greek and provides you with a translation.
- Notarization Abroad – You certify your signature before a notary in your home country.
- Apostille – For the document to be valid in Greece, it must have an Apostille stamp, which is a standard procedure under the Hague Convention.
- Shipment to Greece – You send the original document with the Apostille to your lawyer.
- Official Translation – The lawyer arranges for a certified translation into Greek.
- Validation – The PoA is now legally valid before Greek institutions.
Contents of a Well-Structured Power of Attorney
- Identification of Parties – Your personal details and the lawyer’s details.
- Powers – Explicitly listed actions: obtaining an AFM (Greek tax number), opening a bank account, conducting property due diligence, signing contracts, paying taxes and fees, and registering the title deed.
- Limitations – You must include a limit on the purchase price and details of the specific property (address/cadastral number).
- Validity Period – Specify a term, such as 6 or 12 months, after which the PoA expires.
Risk Management
- “Two Eyes” Principle: Besides a lawyer, have an independent consultant or broker.
- Specific Wording: Avoid overly general PoAs. The language must be specific.
- Regular Reports: Require your lawyer to provide copies of all documents and report on every action.
Checklist: Power of Attorney for Property in Greece (2025)
- Select a Greek lawyer experienced in real estate.
- Specify the powers in advance – AFM, bank account, contracts, registration.
- Define a maximum transaction price and include it in the PoA.
- Limit the PoA to a specific property (address or cadastral number).
- Set a validity period (6–12 months).
- Notarize the document in your home country.
- Obtain an Apostille from the competent authority.
- Send the original document with the Apostille to your lawyer in Greece via courier.
- Ensure the lawyer has arranged for an official Greek translation.
- Maintain regular communication and request reports on every action.
Conclusion
A Power of Attorney is an indispensable tool for foreigners looking to purchase property in Greece remotely. When drafted correctly with the necessary limitations, it ensures a safe and smooth transaction. Follow our checklist to minimize risk while saving time, money, and effort.
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