Greece has long been a favored destination for expatriates and foreign investors seeking property ownership in a country rich in culture, history, and investment potential. Recognising this growing interest, Eurobank has launched a new mortgage option specifically designed for Greek expatriates and foreign residents, enabling them to take out mortgage loans remotely, without requiring their physical presence in Greece.
A New Era of Accessibility
Through this innovative initiative, Eurobank facilitates the entire mortgage process for non-residents—from application to loan disbursement—by a team of dedicated International Mortgage Advisors. This approach eliminates traditional bureaucratic hurdles, streamlining the process for individuals wishing to acquire property in Greece but reside abroad.
Key Highlights of the Program
• Remote Loan Approval: Expats and foreign buyers can complete the entire mortgage process without the need to visiting Greece.
• Flexible Loan Amounts: The mortgage amount starts at €10,000, with the option to finance up to 70% of the property’s commercial value
• Competitive Interest Rates: Borrowers can choose between fixed interest rates starting at 2.90% for a 3-year term or opt for a floating rate linked to the 3-month Euribor, providing flexibility to suit individual financial strategies.
• Flexible Loan Terms: Greek or Cypriot citizens can opt for loan terms up to 30 years, while non-Greek or non-Cypriot citizens have terms up to 15 years, ensuring manageable repayment plans tailored to the borrower’s profile.
• Collateral Options: To secure the loan, borrowers can offer a mortgage lien on the property, or 100% cash collateral, or pledge securities such as mutual funds or bancassurance products, providing multiple avenues to meet collateral requirements.
Application Process
1. Submission: Applicants can submit their mortgage loan applications either at a Eurobank branch or remotely via email. If the applicant cannot be physically present, a proxy—specifically, a lawyer registered with a Greek bar association—can handle the process on their behalf.
2. Required Documentation: Essential documents include proof of identity (valid passport or ID card), financial statements such as the last two income tax returns, and a credit bureau report detailing current loan obligations.
3. Pre-Approval: Upon submission, Eurobank assesses the application and, if approved, issues a pre-approval certificate outlining the loan amount and terms, valid for 90 days.
4. Property Due Diligence: For loans secured by property, Eurobank conducts due diligence to ensure clear ownership and absence of encumbrances, safeguarding the investment.
5. Final Approval and Disbursement: After successful due diligence and submission of all required documents, the loan agreement is finalized, and funds are disbursed accordingly.
A Legal Perspective on Cross-Border Property Transaction
At Amoiridis Law Services®, we recognize that buying property in Greece as a non-resident involves legal complexities beyond securing a mortgage. Prospective buyers must navigate issues such as:
• Property Due Diligence: Ensuring clear title ownership and compliance with Greek property laws.
• Tax Implications: Understanding property taxes, inheritance laws, and potential tax benefits.
• Legal Representation: Appointing a local lawyer for contract negotiations, mortgage agreements, and finalizing transactions remotely.
Why This Matters for Greek Expatriates and Foreign Investors
Eurobank initiative aligns with Greece’s broader efforts to attract foreign investment, particularly in real estate. It offers Greek expatriates a seamless way to reconnect with their homeland through property ownership, while also positioning Greece as a competitive market for global real estate investors. For more info you can visit the link : https://www.eurobank.gr/en/international-customers/what-we-offer/mortgage-loan-for-non-residents or communicate directly with our law firm to provide you with a more personalized assistance.
For those considering an investment in Greek real estate, legal guidance is essential to ensure a smooth transaction. At Amoiridis Law Services®, we provide comprehensive support, from loan approvals and contract negotiations to property due diligence and tax advisory services.
If you are an expatriate or foreign investor looking to acquire property in Greece, contact us today to explore your options with confidence.
How We Can Help
At Amoiridis Law Services®, we understand the complexities of the visa and permit process, and our dedicated team is here to provide guidance and support, ensuring your experience in Greece is smooth and hassle-free. For further information and personalized assistance tailored to your needs and profile, contact our legal team.
For any further information and clarifications please do not hesitate to contact our qualified legal team, ready to provide you with further personalized information tailored to your needs and your profile.
You can email us: or call/text us directly at: +306908351705 (WhatsApp/Viber)
Athens, March 2025
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