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GREECEGreece is strategically located at the crossroads of Europe, Asia and Africa. The Aegean Sea lies to the east of the mainland, the Ionian Sea to the west, and the Mediterranean Sea to the south. Greece has the longest coastline on the Mediterranean Basin and the 11th longest coastline in the world at 13,676 km (8,498 mi) in length, fea-turing a vast number of islands (approximately 1,400, of which 227 are inhabited). Eighty percent of Greece consists of mountains, of which Mount Olympus is the highest, at 2,917 m.

FACT FILEOFFICIAL NAME: Hellenic RepublicPOPULATION: 11 millionCAPITAL: AthensLANGUAGES: GreekCURRENCY: EuroDRIVES ON THE: Right DIALING CODE: 0030WEB DOMAIN: .gr

THE 10 MAIN REASONS FOR ACQUIRING A HOLIDAY HOME IN GREECE ARE:

1. Accessibility 2. Weather 3. Culture 4. Coastline 5. Quality of Life 6. Low crime rate 7. Low cost of living 8. Investment in a rising destination 9. Transaction cost legal framework 10. Residence permit

GREECE (EU) FAST-TRACK PERMANENT RESIDENCYThe Greece permanent residency program enables an entire non-EU family, including dependent children up to age 24 and the parents of both spouses, to obtain permanent residency status in Greece within just 2 months with a real estate investment of just €250,000.

It is the most competitive permanent residency scheme in Europe.

Permanent residency in Greece enables visa-free travel to all coun-tries of the Schengen zone, for up to 90 days in each 6 months period. It also offers an insurance policy for the future ensuring you always have a second place to call home. Recent legislation changes now enable PR holders to apply for Greece (EU) citizen-ship as well.

“Permanent residency offers your family the freedom to live freely in the EU and to travel with ease, it provides access to excellent edu-cation and healthcare, or simply offers an insurance policy for an uncertain future”.

KEY FEATURES:

> Includes dependent children up to age 24> Includes the parents of both spouses> 2 month processing time> Gives the right to apply for EU citizenship> Visa-free travel within Schengen zone

Permanent residency status means that your family have the right to live freely in Greece or continue to live in your home country and use the permit whenever you need it. Greece is a superb base for travelling throughout Europe with its excellent flight connec-tions to Europe and the rest of the world. Additionally, it offers a high quality of life, including modern medical facilities, shopping, natural beauty, sports, cultural events, a warm climate, and many private schools and universities with English as teaching language. As a PR holder you are able to enjoy the same health and educa-tion rights as Greek nationals.

WHO QUALIFIES?

The residency permit applies to the investor, their spouse, unmar-ried dependent children up to age 24 and the dependent parents of both spouses. The permits are valid for 5 years after which they can be easily renewed subject to the real estate investment being held. Obtaining permanent residency and eventually EU citizen-ship offers a legacy to your and later your children’s families.

The investmentThe Greece program requires a real estate investment of €250,000 (net of vat). The investment can be made in land, off-plan, new or resale properties as long as the minimum value is met. Inves-tors have the right to sell the property before the expiration of 5 years to another foreign citizen, who can also apply for permanent residency, however, the original investor must forfeit his permit to do so.

a. In cases of joint ownership, where the value of the property is€250.000, the residence permit is only granted if the owners are spouses with undivided ownership of the property. In all other cas-es of joint ownership, the residence permit is only granted if the amount invested by each of the joint owners is at least €250.000.b. If the owner has acquired the property through a legal entity,the applicant must own 100% of the company shares.

c. either a single or multiple properties with a combines value ex-ceeding €250,000 are applicable

CitizenshipPermanent residents have the right to apply for Greek citizenship after living in Greece for 7 years, in accordance with legal provi-sions. Their children may apply if :

a) they attend any Greek school for 9 years , orb) they attend a Greek secondary school for 6 years, orc) they attend a Greek University.

An EU citizen is free to live, work, travel, receive healthcare or pur-sue education anywhere within the EU, including the UK. In fact, travel benefits extend way beyond Europe with Greek passport holders being able to travel visa free to an extensive list of coun-tries.

Below is a brief list of what you can expect in the way of pur-chase costs, these are to act as a guide only and may vary. We advise that it’s always best to confirm costs with your appointed lawyer.

PURCHASE OR TRANSFER TAX: The new tax provisions of 1st January 2014 stipulate transfer tax as 3%.

LAWYER’S FEES: Legal fees for the conveyance involved in a sale are up to 1% + VAT of the ‘assessed tax value’. The actual fee depends on the value of the property itself.

NOTARY FEES: These are usually between 1-2% of a property’s ‘assessed tax value’. Fees also include small set charges for each sheet and document included in the contract.

LAND REGISTRY: Land registry fees are from 0.5 to 0.7% of the contract value plus a small sum for stamp duties and certificates.

UNION FEES: 1.8 % of the taxable price of the property up to €44,000 is payable and then 0.5% on the remaining taxable property price.

LOCAL MUNICIPAL TAX OR COMMUNITY TAX: 3% of the property transfer tax and is paid to the local municipality for general public services such as road maintenance.

CAPITAL GAINS TAX: Capital Gains tax is normally levied at 15% in Greece, however this is exempt until the end of 2016

ARCHITECT LICENSED TO SURVEY: An Architectural Survey (Topograph) is a formal document pre-pared by an architect and gives a technical description of the property. It is recommended that you have this done even where the owner has presented one. The fee will depend on the type of survey, any special requirements and the value of the property or land. A survey costs from €300 and you should establish the fee in advance

REGISTRY OF MORTGAGES: The fee payable to the registry of mortgages amounts to 0.45 per cent of the property value

PROPERTY TAXATION AND EXPENSES

HEALTHCARE IN GREECE

PUBLIC HEALTHCARE IN GREECEGreece’s public health system (IKA) provides free or low cost health care for those who contribute to Greek social security, plus their families and retirees (including those from other EU countries). Members are charged 25 per cent of the actual cost of prescrip-tions, although there are higher charges for non-essential medi-cines plus substantial contributions for many services, including spectacles, dentures and other treatment. Essential dental treat-ment is largely free. If you don’t qualify for health care under the public health system, it’s essential to have private health insurance. This is recommend-ed in any case if you can a�ord it.

PRIVATE HEALTHCARE IN GREECEPrivate healthcare in Greece is normally considered to be superior to the public alternative. Expats who would prefer to go to a pri-vate hospital in Greece would do well to have a private healthcare policy, since they will be responsible for the full cost of their treat-ment.

Doctors and nurses in private hospitals are more likely to speak English. Some Greek private hospitals also have a�liations to US hospitals or hospitals in other countries, and their sta� will have had at least some form of overseas training.

PHARMACIES IN GREECEPharmacies in Greece are normally marked by a green equal armed cross, often against a white background. They are widely available especially in larger cities and are generally a reliable �rst line of defense against illness. Many Greek Pharmacies will speak English and are capable diagnosticians who could save you a trip to the Doctor. Those who contribute to the IKA public health care will receive a discount o� the cost of some prescriptions if they have been provided by an IKA approved Doctor.

EDUCATION IN GREECE:

The Greek educational system is mainly divided into three lev-els, primary, secondary and tertiary, with an additional post-sec-ondary level providing vocational training. Primary education is divided into kindergarten lasting one or two years, and primary school spanning six years (ages 6 to 12). Secondary education comprises two stages: Gymnasio (trans-lated as Middle or Junior High School), a compulsory three-year school, after which students can attend Lykeion (an academically oriented high school) or Vocational training. Higher Tertiary education is provided by Universities and Poly-technics. Undergraduate courses typically last 4 years, (5 in polytechnics and some technical/art schools, and 6 in medical schools). Postgraduate (MSc level) courses last from 1 to 2 years and doctorates (PhD level) from 3 to 6 years.

PRIVATE SCHOOLSAbout 7% of schools in Greece are private and 7% of pupils who attend compulsory education study in private schools, which is the highest percentage in the European Union. Private insti-tutions in Greece o�er all levels of education and are mostly branches of American and UK schools. They charge annual tuition fees of between 1.500€ and 13.000€ depending on the school and the grade. The reason why so many families decide to send their children to private school despite the costs, is the common belief that private schools o�er better standards than state schools such as infrastructure or equipment - each private school has at least one computer laboratory, a gym and a library.

Expatriates in Greece who want to enrol their children in a private school have a wide range of options. They can choose between various Greek private schools that follow the state curriculum, or one of the foreign private schools which o�er di�erent education programmes. Foreign pupils in Greece usually attend foreign pri-vate schools with a foreign education programme, while Greek pupils mostly attend foreign private schools with a Greek edu-cation programme. Classes in private schools may be taught in di�erent languages; however, Greek is compulsory for all foreign schools, even if they only have a foreign curriculum.

Colleges and Universities often collaborate with foreign uni-versities can o�er undergraduate and postgraduate UK foreign programmes of study in Greece, under the proper registration with the Greek Ministry of Education. Usually, these programmes are provided following franchise or validation agreements with universities established in other European Union countries, pri-marily in the UK, leading to degrees which are awarded directly by those universities. In some cases these institutions are wholly owned and operated branch campuses of foreign institutions, as in the case of the University of Indianapolis, Athens Campus.

These universities are joined by 15 Technological Educational Institutes (TEIs), which o�er higher education programs with a focus on practical and professional skills, in subjects such as ap-plied technology, healthcare, agriculture, management and art and design.

ATHENS AND OTHER INTERNATIONAL AIRPORTS(ATH) handles most international �ights to Greece. Athens also goes by the name Elfetherios Veniselos and in located 25km from the city. Other international airports are Crete Heraklion (HER), Corfu Kerkira (CFU), Mykonos (JMK), Kos (KGS), Rhodes Paradisi (RHO) and Thessaloniki Macedonia (SKG).

PUBLIC TRANSPORTThere is an extensive network of public transport in Greece which makes getting around easy. The largest public transport network in Greece is the Athens Mass Transit System, which serves areas in and around the Greek capital. It consists of bus and trolley bus routes, the Athens Tram network, rail and subway networks which serve the city and link it to other regions of the mainland.

TrainsThere are regional railway lines which link most of the country as well as the urban rail networks in some of the larger cities. Trains in Greece are operated by the Greek Railway Organisation (Or-ganismos Sidirodromon Ellados), which is known by its acronym, OSE. The network is not as extensive as Greece’s bus routes and, while it is cheaper, generally isn’t as comfortable as the buses.

MetroThe Athens Metro runs along three lines and links the city centre to the surrounding suburbs, and the Athens International Air-port. Since 2003, planning and construction of a metro system in Thessaloniki has been underway, with construction due to be completed in 2018.

TramsThe Athens Tram is the only public tram network in Greece and is run by the Urban Rail Transport Company (STASY SA) The net-work began as a horse-drawn tramway in the 19th century and has developed into a modern system that runs between 5am and midnight during the week, and 24 hours a day over weekends.

BusesBuses are the primary form of public transport on land in Greece. With a network (Ethel) that connects large cities like Athens and Thessaloniki to small villages. The majority of the mainland is linked to Athens or, alternatively, Thessaloniki. Islands such as Corfu can also be accessed by bus from the Greek capital

CarDriving in Greece is a good way to explore some of Greece’s more remote areas.

Boats Greece’s ferry services are arguably its most famous mode of transport, carrying millions of passengers a year. Those who need to travel between the Greek islands for business or pleas-ure would most likely use one of the country’s many high-speed catamarans, modern ferries, zippy water taxis or, on some of the more remote islands, hydrofoils.

Car FerriesThere are regular services that link the Italian ports – Brindisi | Venice | |Trieste | Ancona with Corfu | Igoumenitsa, | Patras | Pi-raeus in Greece. During the summer months there are additional services.

Trolley busesThese buses provide frequent links to the main tourist attractions and places of interest. Tickets for the buses can be purchased from the Athens Urban Transport Organisation (OASA) and at various booths or kiosks situated around the city.

PRIVATE INTERNATIONAL SCHOOLS

ACS / ATHENSACS Athens is a student-centered international school, embrac-ing American educational philosophy, principles and values. Through excellence in teaching and diverse educational experi-ences, ACS Athens challenges all students to realize their unique potential: academically, intellectually, socially and ethically — to thrive as responsible global citizens.

INTERNATIONAL SCHOOL OF ATHENS / ATHENSThe International School of Athens is an academic community of students, faculty and parents united in a philosophy dedicated to fostering in all of its students a love of learning, self-discipline, self-knowledge, and true commitment to international under-standing. The curriculum is broad-based and �exible. Students develop the skills and knowledge to enable them to cope with a demanding and complex world.

ST CATHERINE’S BRITISH SCHOOL / ATHENSSt Catherine’s British School was established in 1965 in the grounds of the British Embassy in Athens. Although originally intended to provide education for children ftom Britain and the Commonwealth, it now teaches 1062 pupils, aged 3 to 18 years, from 54 nationalities.

BYRON COLLEGE / ATHENSByron College was established in 1986 by a group of idealistic parents and teachers who believe that there was a need for a school in Athens that would provide a British Education that was egalitarian and inclusive and would pursue academic excellence whilst maintaining the highest standards of self-discipline, be-haviour and community participation. The pupil body is now just over 300 and is divided fairly equally between Primary and Sec-ondary pupils. These pupils come from over 50 di�erent national backgrounds.

CAMPION SCHOOL / ATHENSCampion School is situated in Pallini, 16 km east of the centre of Athens, in its own purpose-built facilities which opened in September 2000. Campion was the �rst international school in Athens for many years to build a fully equipped and modern fa-cility for all of its children. There are separate Junior and Senior schools on the site which are managed independently, with a lit-tle overlap in the use of facilities and sta�, particularly in Physical Education and Music.The school has recently completed a new sports facility which includes a state-of-the-art soccer pitch, running track, long jump and changing rooms.St. Lawrence College / AthensSt. Lawrence College was founded in 1980 to uphold the basic principles of British education and to cater for the needs not only of British expatriates but of any family which desired a British ed-ucation for its children. The school aims to provide the full range of what is best in British education, thereby opening the door for entry into tertiary education in the U.K., U.S.A. and, indeed, all over the world.

TRANSPORTATION

COST OF LIVING

Greece can still be a relatively inexpensive country by northern European standards. With the exception of Athens, other major cities and some islands such as Hydra and Mykonos, the cost of living in Greece is around 30% below the average of other nothern European destinations.

Food costs less than in many other European countries. It is possible to live very frugally in Greece if you live largely ‘off the land’ or buy home grown produce. Shopping for luxury items such as cars, electrical and electronic goods etc. may be easier on the internet where you may see significant cost savings and have a wider choice.

GREECE