Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Corfu is a popular Greek island in the Ionian Sea, attracting both tourists and investors alike. Investment in Corfu covers real estate, hospitality businesses, renewable energy, and tourism-related ventures. Greek law welcomes foreign and domestic investors, but navigating regulations and understanding property rights, commercial leasing, and business licensing can be complex. Investment law in Greece, and specifically Corfu, provides a framework for safeguarding investments, clarifying ownership, and ensuring compliance with national and European Union standards. Whether interested in buying a vacation property, setting up a business, or expanding commercial assets, it is essential to be aware of legal requirements and potential challenges.
There are several situations where legal assistance is crucial for investors in Corfu:
Key aspects of local laws to consider before investing in Corfu include:
Yes, most foreigners can freely buy property in Corfu, although there might be extra scrutiny or restrictions for certain nationalities or border areas. Conducting due diligence and engaging a local lawyer is advised to avoid surprises.
Key steps include selecting a property, conducting legal due diligence on ownership, signing a preliminary agreement, paying a deposit, finalizing the notarial contract, registering the deed, and paying related taxes.
Foreign individuals and companies generally face no restrictions on owning or operating businesses in Corfu, aside from standard sector-specific regulations (such as banking, defense, or sensitive border projects).
Important taxes include annual property tax (ENFIA), transfer tax on acquisitions, capital gains tax on resales, and profits tax for corporate entities. It is important to plan for these in advance and seek guidance on possible exemptions.
The Greek Golden Visa allows non-EU nationals to obtain residence permits through investing in real estate worth a minimum specified amount. This residence permit is renewable and grants family members legal stay and visa-free Schengen travel.
Typical documents include a valid passport, tax registration number, proof of funds, property title deeds, land registry certificates, and in some cases, permits or approvals for property use.
A straightforward purchase may take 6 to 12 weeks, depending on due diligence, financing, and registry processing times.
Construction and renovation are strictly regulated. Permits must be obtained from local authorities, complying with zoning, safety, and environmental standards. Unauthorized work can lead to sanctions.
Greece offers tax incentives and subsidies in sectors such as tourism, hospitality, renewable energy, and technology. The availability of incentives changes, so check with local economic development agencies for updates.
Most disputes are resolved through negotiation or, if necessary, mediation and court proceedings. Legal representation is recommended to protect your rights and interests.
The following resources are helpful for investment-related legal questions:
If you are considering investing in Corfu, start by clearly defining your investment goals and identifying the type of property or business you are interested in. Gather relevant documentation and consult an experienced local lawyer before making any commitments. A lawyer can perform due diligence, draft or review contracts, guide you through regulatory hurdles, and represent your interests in negotiations or disputes. To find a suitable lawyer, consider reaching out to the local bar association or seeking recommendations from established professionals or expatriate groups. Being well-informed and legally prepared is the best way to ensure a successful investment experience in Corfu, Greece.
