AGDev

There has never been a better time to buy property in Greece for your retirement, professional plans, leisure or investment plans. Since 1990 citizens of the European community have been allowed to own property in most areas of Greece.  For Non-European Union Community citizens, permission has to be sought from the Council of Local Prefecture who is empowered to grant permission, provided that the property does not fall within prohibited areas.  Prices are considerably lower than in other parts of the Mediterranean, however, they are estimated to rise considerably in the future, making the purchase a particularly good investment at the present time.

The Euro is now the official currency of the majority of the EU member states including Greece. Foreign currency can be exchanged at all banks, savings banks and bureau de change. Exchange rates can vary from one bank to another, so shop around. Anyone who earns income originating in Greece is required to file a tax return for his entire earnings, Greek law makes no distinction between Greek citizens and other nationals whether permanent residents or not. Temporary residents of Greece are taxed only on income earned and sourced in Greece. A UK/Greece tax treaty eliminates double taxation.

The cost of living in the eastern Mediterranean is very low for Western Europeans. A couple can live most comfortably on the island with 12,000€-15000€ annually. However, if you would like to have a steady source of income you can find a job. Official unemployment in Kefalonia is very low. If you are looking for work it is important to get to know as many people as possible, especially related to the type of work you are looking for.

To work on an official basis, you will need to apply at the police station for a residence permit and pass. If you are an EU citizen you only need to register with (IKA) the Greek National Insurance Organisation and have a card issued for you. After getting register with the National Insurance Organisation finding a job or setting up your own business is very easy and quick. You may not find yourself familiar with the national guidelines and regulations, however, the legal framework is similar to any other European Country and it only takes a short period to adjust.

The Greek National Hospitals provide free of charge medical treatment upon the presentation of form E111 (available from UK post offices). Local chemists can diagnose and supply a wide selection of drugs. When you register with the (IKA) the Greek National Insurance Organisation you will be eligible to all work or health benefits offered, like any other Greek citizen. It is advisable, however, to obtain your own private health insurance for extra safety.

Importing foreign currency is not restricted provided any amount exceeding Euro 10,000 is declared on arrival. The export of local and foreign currency is allowed although amounts over Euro 2000 require an import Declaration form issued on arrival. Money transfer is widely available at all Greek Banks. It is possible to obtain very low exchange rates using your own currency broker which is something you may need to arrange prior to your visit in Kefalonia. Banking hours - Mon-Thurs 0800-1400; Fri 0800-1330.

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