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Greece is a civil-law country and does not have the same native trust institution as common-law jurisdictions. In practice, people in Elliniko and elsewhere in Greece may use a mix of tools - foreign trusts, domestic fiduciary arrangements, foundations, wills, usufructs and corporate vehicles - to achieve similar goals. Greek courts and administrative bodies frequently deal with cross-border trust issues, estate administration and property registration. If a trust involves Greek-situs assets, such as real estate in Elliniko, Greek private international law, succession rules and tax law will be relevant to how the trust is recognised and operated locally.
Trusts and trust-like arrangements that touch Greece raise a range of legal, tax and practical questions. You should consult a lawyer if you face any of the following situations:
- You own or plan to transfer Greek real estate into a trust or trust-like structure.
- You are a Greek resident or a non-resident with assets in Greece and you want to do cross-border estate planning.
- You need to understand how Greek succession law and compulsory heirship rights affect a trust or testamentary plan.
- A trustee, beneficiary or creditor disputes rights over assets located in Greece.
- You need to register changes in ownership, mortgages or encumbrances with the Hellenic Cadastre.
- You are setting up a trustee arrangement for business assets, family wealth or charitable aims and need to meet tax and anti-money-laundering obligations.
- You require drafting or reviewing trustee powers, fiduciary duties, trustee contracts, or a will that interacts with a trust.
Key legal features to consider when dealing with trusts and trust-like structures in Elliniko include:
- Succession and compulsory portions: The Greek Civil Code protects certain heirs with compulsory portions - typically spouses and descendants. Testamentary dispositions or structures that remove or unduly prejudice these compulsory rights can be challenged in Greek courts.
- Recognition of foreign trusts: Greece treats trusts primarily through private international law and administrative practice. Foreign trusts may be recognised for certain purposes, but recognition does not automatically override Greek succession or tax rules for Greek-situs assets.
- Property registration: Transfer of real estate in Greece requires formal documentation and registration with the Hellenic Cadastre. Trustees who hold or transfer Greek real estate must comply with registration, notarial and tax formalities.
- Taxation: Transfers by gift or inheritance involving Greek assets are subject to Greek gift and inheritance tax and may trigger other taxes or reporting obligations. Tax treatment will depend on residency, the nature of assets, and the legal form of the arrangement. Obtain specialized tax advice for detailed consequences.
- Notarial and formal requirements: Many property transfers and certain testamentary acts must be executed before a Greek notary and recorded correctly to be effective against third parties.
- Anti-money-laundering and beneficial ownership: Greek financial institutions and certain service providers must identify beneficial owners. Trustees and beneficiaries should expect customer due diligence, especially for international or offshore arrangements.
Greece does not have a comprehensive domestic trust regime like common-law countries. However, foreign trusts and trust-like arrangements can be recognised and have legal effects in Greece under private international law and relevant statutory or administrative practice. The exact recognition and legal consequences depend on the particular facts and the assets involved.
Yes, a trust can hold Greek real estate in practice, but transfers and registration must follow Greek notarial and cadastre procedures. Trustees will need to satisfy Greek formalities, tax reporting and possibly obtain Greek tax identification numbers for parties involved.
Not necessarily. Compulsory heirship rights under the Greek Civil Code protect certain heirs. Arrangements that attempt to deprive compulsory heirs of their statutory share may be challenged in Greek courts. Estate planning must take compulsory portions into account.
Taxation depends on residency, the nature of assets and whether the trust is treated as transparent or opaque for Greek tax purposes. Transfers of Greek-situs assets usually trigger gift or inheritance tax and may create reporting obligations. Always consult a Greek tax specialist before moving assets into any trust arrangement.
There is no general Greek public trust registry comparable to some foreign jurisdictions. However, trustees who deal with Greek property must register title changes with the Hellenic Cadastre and comply with tax and anti-money-laundering identification rules when dealing with banks or other service providers.
Yes, foreign nationals can use trusts that affect Greek property, but they must satisfy Greek transfer, registration and tax formalities. Cross-border aspects add complexity around choice of law, recognition and probate, so seek legal advice in Greece and in the trust jurisdiction.
Trustee duties stem from the law governing the trust and general principles of fiduciary duty. Trustees must act in beneficiaries interest, avoid conflicts, keep proper accounts and follow terms of the trust. When acting in Greece, trustees must also follow Greek procedural and registration requirements and cooperate with Greek courts or authorities if disputes arise.
Asset protection in Greece must be planned carefully and lawfully. Some structures used in other countries are less effective in Greece, particularly against claims by statutory heirs or creditors. Honest, transparent planning that complies with Greek law - including timing and consideration for transfers - is essential. Consult a lawyer for options tailored to your situation.
Challenges may be brought in Greek courts on grounds such as violation of compulsory heirship, lack of capacity, fraud, or improper formalities. The outcome depends on facts, applicable law to the trust, and the asset location. Early legal advice and documentation can reduce the risk of successful challenges.
Look for lawyers who specialise in private international law, succession, real estate and tax law. Choose a lawyer who is licensed in Greece, speaks your language if needed, and has experience with cross-border trust issues and dealing with the Hellenic Cadastre and tax authorities. Ask for client references and examples of similar matters handled.
Helpful organisations and bodies to consult when dealing with trust-related issues in Elliniko include:
- Athens Bar Association for referrals to qualified lawyers.
- Local notary offices for execution and authentication of property transfers and wills.
- Hellenic Cadastre for property registration and title information.
- Independent Authority for Public Revenue - tax guidance and obligations involving gifts and inheritances.
- Hellenic Ministry of Justice for information on court procedures and succession law.
- Your country embassy or consulate for assistance if you are a foreign national dealing with cross-border estate matters in Greece.
- Hague Conference on Private International Law materials for general information on recognition of trusts across jurisdictions.
If you need legal assistance with trusts in Elliniko, take these practical steps:
- Prepare a summary of your goals - estate planning, asset protection, management of family property, or dispute resolution.
- Make a detailed list of assets - indicating which are located in Greece and which are foreign-situs.
- Gather existing documents - wills, deeds, previous trust deeds, powers of attorney, tax returns and identification documents for relevant parties.
- Contact a Greek lawyer with experience in succession, real estate and international trust matters. Ask in advance about fees, likely timelines and whether they will work with foreign counsel if needed.
- Discuss tax implications with a Greek tax adviser before completing any transfer or restructuring.
- If immediate action is required - for example to prevent creditor action or to secure an estate - request an urgent consultation and ask about interim protective measures.
- Ensure communications and key documents are translated and understood by all parties, and confirm who will be responsible for registration and tax filings in Greece.
Taking these steps will help you clarify risks, costs and legal options and will position you to make informed decisions about trusts and trust-like arrangements affecting Elliniko property and family matters.
