WHAT ELSE YOU NEED TO DO

TAX NUMBER

Before you can buy property in Kefalonia you will need a TAX NUMBER. This is a relatively simple procedure which can be completed with one visit to the Tax Office in Argostoli (though we cannot guarantee the length of the trip!). Greek will very probably be required... or somebody to assist. See getting help.

BEWARE, however. Having acquired a tax number you will have effectively registered yourself for income tax in Kefalonia. As such, you are required to submit an annual tax return here (ideally before the end of March each year). In most cases this will be a nil return (unless you start a business here or have other sources of local income), but the local tax system is somewhat complex, and contains pitfalls for the unwary. In particular, if you purchase property, then the Tax Office will treat the amount spent as earned income (and therefore taxable!) unless you can prove that you have already paid tax on it. For this reason you will need...

A BANK ACCOUNT, and AN ACCOUNTANT

Opening a Bank Account in your name is the best way of tracking the money you use for any purchase. Provided you send the money from a bank account in the UK with your name on it, you will then be able to obtain a 'pink paper' from your Kefalonian Bank, which the Tax Office will then accept as evidence. You will also, of course, need an accountant to prepare your annual tax returns. If you are going to build, you will also need an accountant later on to organise the paperwork necessary to get proper mains electricity connected. See getting help.

Furthermore, unless you are going to be able to be present to sign the purchase contract and draw the money from your bank account for the purchase, you will also need...

POWER OF ATTORNEY

If you wish to appoint somebody else to sign the contract on your behalf (your solicitor?), and give them the authority to withdraw money from your bank account, you will need to get a POWER OF ATTORNEY agreement drawn up by a NOTARY (for which a fee will of course be payable).

If you are going to build, you will very probably need to authorise your agent (project manager?) to handle various aspects of the project on your behalf (e.g. arrange the connection of water, temporary electricity etc. etc.). See design & build.