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Trusts as they exist in common-law countries are not a traditional part of Greek civil law. Greece follows a civil-law system where the closest comparable concepts are fiduciary arrangements, asset management agreements, foundations in foreign jurisdictions, and corporate structures used for estate and wealth management. Greek courts and public authorities may recognise foreign trusts in certain circumstances, but recognition and effect can depend on conflict-of-law rules, the nature and location of the assets, and tax and public-order considerations.
For someone living in or owning assets in Agia Paraskevi, Greece, this means that using a trust - particularly a foreign trust - requires careful planning and local legal advice. Real estate located in Greece, Greek company shares, and other assets governed by Greek law will generally be treated according to Greek substantive rules - for example, rules on immovable property, succession and forced heirship - rather than automatically accepting all effects of a foreign trust.
Trust and trust-like arrangements in Agia Paraskevi, Greece, raise complex legal, tax and practical questions. You should consult a lawyer if you are facing any of the following situations:
- You own or plan to transfer Greek real estate or business interests and want to use a trust or similar vehicle for succession or asset protection.
- You are a resident of Greece or a Greek national with foreign trusts, or you are a beneficiary of a foreign trust and need to understand rights, duties and reporting obligations.
- You need to comply with Greek tax rules, beneficial-ownership reporting, and anti-money-laundering requirements.
- You face a dispute about an estate, possible circumvention of forced heirship, or competing claims involving trust assets that touch Greece.
- You need to structure cross-border succession, pension, or corporate arrangements that involve Greek and foreign law elements.
- You require drafting or reviewing documents - wills, asset management agreements, trustee appointments - to ensure they will be effective and enforceable where the assets are located.
Key legal areas and local rules to consider when dealing with trust-related matters in Agia Paraskevi, Greece include the following:
- Succession and forced heirship - Greek succession law contains reserved portions in favour of close relatives. Attempting to avoid those rules by transferring property to foreign entities or trusts can be challenged in Greece. Legal advice is essential when planning succession.
- Immovable property law - Real estate located in Greece is governed by Greek law and subject to registration requirements in the Hellenic Cadastre (Ktimatologio) or local land registry. Transfers, encumbrances and registration formalities are handled by Greek notaries and cadastral offices - including in the Athens region that covers Agia Paraskevi.
- Tax law - Income, capital gains, gift and inheritance taxation may apply to transfers of assets or distributions from trusts that affect Greek tax residents or Greek-situs assets. The Hellenic Tax Authority administers tax rules and reporting obligations. Tax consequences depend on residency, nature and location of assets, and the trust instrument.
- Company and commercial law - Greek corporate structures are often used as alternatives or complements to trusts. Rules on shareholders, directors, and company registration must be observed when using companies for succession or asset management.
- Private international law - Greek courts will apply conflict-of-law rules to determine whether and how foreign trusts are recognised and which jurisdiction's law governs the trust. Immovable property is usually governed by the law where the property is located.
- Anti-money-laundering and beneficial-ownership rules - Professionals and corporate entities in Greece have AML obligations. Disclosure of beneficial owners and transparency requirements may affect trust structures, trustees and intermediaries.
- Procedural and notarial formalities - Many transfers and estate-related acts require notarisation and registration - processes typically handled in Greek and involving local notaries and courts.
A trust is a legal relationship where one person (the trustee) holds and manages assets for the benefit of others (beneficiaries) according to the trust instrument. Greek inheritance law is based on direct succession rules under the Civil Code, including reserved portions for certain heirs. Because Greece does not have an identical domestic trust model, trusts - especially foreign trusts - interact with Greek succession rules in complex ways.
Recognition of a foreign trust depends on private international law, the nature of the assets, and Greek public-order considerations. Greek authorities may recognise certain effects of a foreign trust, but immovable property in Greece and forced heirship claims are typically governed by Greek law. You should get local legal advice before relying on recognition.
Placing Greek real estate into a foreign trust raises legal and practical challenges. Transfers of immovable property must comply with Greek formalities and are subject to Greek property and succession law. Using corporate vehicles or domestic instruments may be more practical in some cases. Always consult a Greek lawyer and a notary before transferring property.
Attempting to use a trust to avoid forced heirship can be risky. Greek courts may look through structures that seek to deprive compulsory heirs of their reserved share, especially when the assets are located in Greece. Proper, transparent planning with local legal advice is essential to reduce the risk of challenges.
Tax treatment depends on residency of the parties, location of assets, and the character of income or transfers. Distributions to Greek residents, capital gains on Greek assets, inheritance or gift transfers can trigger Greek tax obligations. Beneficial-ownership reporting and other compliance duties may also apply. Consult a tax specialist familiar with Greek tax law.
Alternatives include carefully drafted wills, family companies or holding companies, asset management agreements, prenuptial agreements, and the use of foreign foundations or foundations in jurisdictions that recognise similar rules. Each alternative has different legal, tax and practical consequences under Greek law.
Look for lawyers or law firms in Agia Paraskevi or the wider Athens area with experience in private international law, succession, tax law and property law. Check professional credentials, ask for references, and confirm experience with cross-border estate planning and dealing with Greek registries and tax authorities.
Trustees and beneficiaries should know that Greek authorities may require disclosure of beneficial ownership and may treat Greek-situs assets according to Greek law. Trustees should be prepared to provide documentation, respond to tax enquiries and follow local formalities when the trust affects assets in Greece.
Yes - interested parties may bring claims in Greek courts if they consider a transfer or structure infringes their reserved rights or violates mandatory Greek rules. Time limits, evidentiary requirements and procedural steps apply, so early legal advice is important.
Duration depends on the trust instrument and the governing law of the trust. However, Greek public policy or specific statutory rules may affect enforceability over time. For example, if a trust is used to alter succession rights, courts may scrutinise its duration and effects. Confirm time limits and enforceability with local counsel.
When you need reliable local information or official guidance in Agia Paraskevi, Greece, consider contacting or consulting resources such as:
- The local Bar Association and the Athens Bar Association for referrals to lawyers experienced in succession, property and international private law.
- The Hellenic Tax Authority for guidance on tax obligations and reporting requirements - in particular beneficial-ownership and AML-related rules.
- The Hellenic Cadastre (Ktimatologio) and local land registry offices for queries about property registration and encumbrances in the Athens region that covers Agia Paraskevi.
- Local notaries who handle property transfers, wills and estate-related notarised documents.
- The Ministry of Justice for information on relevant national laws and court procedures.
- Professional associations of accountants and tax advisers who can assist with cross-border tax matters.
If you are considering a trust or trust-like arrangement that affects Agia Paraskevi, Greece, follow these practical steps:
- Inventory the assets - list location, legal title, liens, and any third-party rights. Separate assets located in Greece from assets located abroad.
- Gather documents - deeds, titles, company shares, previous wills, and any trust instruments or foreign documents that might affect succession.
- Seek specialised advice - engage a Greek lawyer experienced in succession, property law and international private law, and consult a tax adviser familiar with Greek rules.
- Verify enforceability - ask your lawyer to assess whether a proposed trust or arrangement will be recognised in Greece and whether it could be challenged under forced heirship or public-order rules.
- Address registration and formalities - if transfers of Greek immovable property are involved, coordinate with a Greek notary and the Hellenic Cadastre to complete the necessary steps.
- Consider alternatives - discuss domestic alternatives such as wills, corporate structures or asset management agreements if a trust is impractical or risky for Greek-situated assets.
- Document and disclose - ensure all required tax filings and beneficial-ownership disclosures are made to avoid fines or penalties.
- Use clear agreements - appoint trustees, set powers and duties in writing, and keep clear records of decisions and distributions.
- Review periodically - laws and facts change - update arrangements as residency, assets or family circumstances evolve.
Disclaimer - This guide provides general information only and does not constitute legal advice. Rules governing trusts, succession, tax and property differ by case and change over time. For an assessment tailored to your situation in Agia Paraskevi, Greece, consult a qualified local lawyer and tax adviser before taking action.
