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Construction of "turnkey" in Crete, Greece

admin — Wed, 27 Apr 2011 16:12:06 +0400

We are pleased to offer the construction of houses, completely ready for exploitation. For each client, we create individual detailed specification depending on the requirements and preferences. The cost of home construction on a “turnkey” basis includes the cost of obtaining all necessary building permits, the cost of construction itself, as well as all required to pay taxes and insurance payments. Yet at the stage of selecting the land, we can orient you on prices for the construction of your home.

Construction type of a Greek house

��* Preparatory work on the plot (for flat terrain with good road access)
��* Laying the foundation
��* Construction of exterior and interior walls
��* Tile roofing
��* Stairs and balconies
��* Internal and external doors
��* Windows (euro package - line, aluminum, double-glazing, sliding and roll-up, protective mosquito nets, sun screen)
��* Engineering services (heating system, sewage, water, electricity)
��* Plastering and interior space polishing
��* Finishing(polishing) outside work
��* Flooring, including bathrooms and balconies
��* Built-in wardrobes in each bedroom
��* Finish toilets and bathrooms, including bathroom fixtures and fittings
��* Kitchen set up, including the equipment
��* Wiring for television and phone connections
��* Cleaning after the construction is done

On request, we produce additional work:

��* Construction of indoor and outdoor pools
��* Territory Planning, Landscape Design
��* Additional buildings
��* Interior Design, custom trim space
��* Built-in and imported furniture
��* Security alarm system and the required connectivity

Visa and citizenship in Greece

admin — Fri, 20 Feb 2009 22:19:44 +0300

Residence permit (Visa)

The possessor of Greek residence permit has the right:

To stay on Greek territory within the framework of a temporary period, as indicated in the residence permit
To travel without a visa within the countries of the Schengen Agreement
To take up studies or work on Greek territory
To open a business on Greek territory
To use the services of approved insurance companies in Greece

The acquisition of real estate in the territory of Greece is not a basis for obtaining a residence permit. Residence permits are only given to foreign citizens, if they fall into one of the categories, listed in law � 336, dated August 2005.

Owners fall into the category of residence permit "for conducting an independent financial and economic activity". Citizens with a regular high income have the possibility of obtaining a residence permit "for financially independent persons". The right to obtain a residence permit is given to representatives of tourist-, commercial-, shipping- and insurance companies.

The foreigner, who receives a residence permit, will also receive special personal residence permits for his spouse and children. Initially a visa is delivered for a period for one year, subsequently for two years and later for five years. After five years, it is possible to request a visa with an unlimited validity. Prolongation must be applied for annually, no later than one month before the expiration of the current visa. When applying for a prolongation, it is necessary once more to provide all the necessary documents.

According to the legislation, which is applicable in all countries of the European Union, citizenship can only be obtained after staying in the country for ten years. If obtaining Greek citizenship is not planned, there is no obligation to stay in the country.

Citizenship in Greece

The possessor of Greek citizenship has the following rights:

To stay on Greek territory within the framework of a temporary period, as indicated in the residence permit
To travel without a visa within the countries of the Schengen Agreement
To live in the countries of the Schengen Agreement without a residence permit�
To work in the countries of the Schengen Agreement without obtaining of special permission to work�
Advantages when applying for an visa for the United States of America�
Possibility to obtain a permanent residence in Switzerland or the United Kingdom or to change Greek citizenship for the citizenship of Spain

Greek citizenship can be the second one, if the first citizenship remains Russian, in this case knowledge of the Greek language is not necessary.

Taxation in Greece

admin — Fri, 20 Feb 2009 22:15:15 +0300

Tax on the transfer of property rights

At the moment of purchase, it is necessary to pay a tax for the transfer of property rights, which amounts to 9 to 11% of the contract sum.

Tax on the possession of property

Subsequently, the possession of real estate is not subjected to the payment of any annual tax, as is the case in the majority of the European countries, provided the cadastre value of your real estate does no exceed certain limits for various categories of owners:

For single persons: �� € 243 600
For married couples:�� € 487 200
For families with one child: �� € 548 850
For families with two children: �� € 610 500
For families with three children: �� € 683 900

More expensive real estate is subject to taxation according to a progressive scale. *

Changes in the taxation of real estate

On 13 December 2007, the Greek Ministry of Economy introduced a new bill in parliament about the taxation of real estate. The introduction of this bill will lead to a reduction in the tax burden for owners of large properties, but to an increase in the taxation for the owners of smaller properties. Provision is made for a single tax on the possession of real estate at the rate of 0.1%, but with a minimum of one euro per square meter.

Property inheritance tax

�If the new owner of real estate (the heir) is not the citizen of the European Union, he has to obtain permission from the Greek Ministry of Defence. The rate of tax depends on the cadastre value of the property and on the proximity of the relationship with the deceased.

Local (municipal) taxes

These taxes are small (0,025%-0,035% of the cadastre value of the property) and include:

Municipal taxes
Tax on the property
National radio and TV licence
Water supply

These taxes are usually included on the bi-monthly electricity bill

Capital gains tax

If the cadastre (state estimated) value of the property has increased, at the time of resale, the increase will be taxed at the following rates: (only for the transactions after 1 January 2006):

20% of the increase, if resale takes place within �5 years from the date of purchase
10% of the increase, if resale takes place between 5 and 15 years from the date of purchase
5% of the increase, if resale takes place between 15 and 25 years from the date of purchase
0%, if resale takes place 25 years or more after the date of purchase

Please note that since the cadastre value at present is considerably lower than the market value, the government periodically carries out corrections of the cadastre value.

Tax on the income generated from leasing out real estate

1,5% of the rent paid
3% of the rent paid, if the habitable area of the property exceeds 300 square metres.

Income tax

For inhabitants and residents of Greece: from 0 to 40%, depending on the income (after deduction of all expenses permitted by law), according to a progressive scale:

Income up to € 8.400 (for non-salaried workers) and up to € 10.000 (for salaried workers) - no tax is payable
Income from € 8.400 (or from € 10 000) up to € 13.400 - taxed at the rate of 15%
The subsequent € 10.000 is taxed at the rate of 30%
Income above € 23.400 is taxed at the rate of 40%

For non-residents: only the income earned on the territory of Greece is subject to taxation. In the case of possession of mobile or fixed property and/or income from leasing out real estate, this must be included in the annual tax declaration.

For legal persons - the rate of taxation varies from 25 to 35% of the joint income, depending on legal status of company.

Allowed deductions for income tax:

15% of the rent of a detached dwelling, but not more than €150
15% of the cost of schooling for the taxpayer or his children
15% of the total of medical expenditure, but not more than € 6.000�
Insurance expenditure
expenditure for the acquisition of shares in Greek companies, contribution to investment trusts
expenditure for the acquisition of a computer
the tax-free amount is increased by € 1.000, if the taxpayer has one child, by € 2.000 for the second child, and by € 10.000 for three children.

�Tax on the income from real estate:

For private individuals - 1.5%
if the habitable area of the property is more than 300 square metres, the tax increases to 3%
For legal persons - 3%, plus a stamp duty of 3.6%, on the rent received.

Taxation of donations

From 0 to 40%, depending on the degree of relationship and the estimated value of the property. * if the new owner is not a citizen of the European Union, he is required to obtain permission from the Greek Ministry of Defence.

Value Added Tax (VAT)

19% - general rate on goods and services
9% - the rate applied to essential products and services (food products, non-alcoholic beverages, transport services, electric power, etc)
4% - the rate applied to printed matter and theatre tickets
0% - no VAT on medical aid, insurance, bank services
On the purchase of new real estate from a construction firm, by buyer pays 19% VAT

Tax on the lifetime transfer of property from parents to their children

From 0% to 20%, depending on the cadastre value of the property.

Tax by the percentage on the bank credits: 15%.

Tax by other percentages: 35%

Tax on profit

For private owners - tax on the profit is paid according to a progressive scale from 5% to 40%.
For partnerships - rate of tax on profit 25%.
For companies - rate of tax on profit 35%.
For construction companies:

State building projects: 10%
Private building projects, including delivery of materials: 12%
Private building projects, not including the delivery of materials: 25%
Apartments and buildings: 15%

The rate of tax to the profit is less for foreign construction companies.

* More detailed information about taxation is given to our customers individually.

Purchase of real estate in Crete

admin — Fri, 20 Feb 2009 22:06:44 +0300

If you are interested in real estate in Crete, you may have additional questions and wonder which the best way of searching is and which real estate agency you should consult.

You examine proposals on the Internet sites and you begin to look at real estate agencies. Due to a lack of knowledge of the Greek language it would be difficult to consult the local press. From the Internet you may find a plot of land or a project which suits you entirely, but at the back of your mind the feeling remains, that you missed other opportunities, in other words it might have been possible to find something better.

Local real estate agencies are mostly unfamiliar with the specific aspects of obtaining special permissions for Russians, and the legal requirements involved.

Moreover you need the services of a lawyer who will protect your interests. If you can speak the local language these problems may be easy to solve. If not, you simply need a representative, who lives in Crete permanently.

Selecting a plot of land in Crete

When choosing a plot of land, you may find that, unknown to you, large rocks are hidden below the surface of the water. It is easy to take a trip on Crete as a tourist and misjudge the possibilities of the locality. Some villages can be very attractive and dynamic in summer, but completely lifeless in winter. Mobile phones may not readily work in certain parts of the rugged mountains, and it may take several years before an Internet connection becomes available.

What about kindergartens or schools? Who knows, maybe your children or grandchildren will one day attend a Greek school. The presence of stores, infrastructure, transport - already at the planning stage it is essential to think about this. If a plot of land is part of an archaeological zone, this will seriously limit the building possibilities. Similarly, limitations are imposed on sites situated in a forest zone. If you are not careful, you may only find out when it is too late. There may be plans to build a road somewhere, or someone acquired a neighboring plot with the intention of building a large hotel or an industrial enterprise.

To find out about such situations after the acquisition of a plot of land is most unpleasant. In order to avoid any subsequent misunderstanding, it is better to spend more time and resources at the preliminary stage and make certain that you acquire precisely what you want. Therefore, instead of proposing a finished house for sale, we put our time and experience at your disposal in order to find an object that is 100% suitable for you. We are constantly in contact with many local brokers, and also with owners who want to sell their real estate directly, without using of the services of an agency.

All documents are verified thoroughly by our lawyers, before we introduce a potential buyer to any specific object.

The procedure for purchasing real estate

Real estate can be acquired in your own name, jointly in the name of husband and wife, or jointly with co-buyers, or in the name of your children, your heirs, the name of a company (local, foreign or off-shore). In case the acquisition of real estate is done in the name of children, their agreement will be required for any resale or leasing. Parents live in the house on a legal basis, and the children automatically become the owners after the death of the parents. Owners and their property are registered in the Greek register of real estate (cadastre).

In 1995 the national land cadastre was set up.� A unique number is allocated to each item of real estate, and the complete history of all transactions is recorded.

Plots of land
Verifying that the project respects all regulations
1. Legality of possession, checking the title, checking that there are no forest zone limitations, archaeological zone limitations or any other nature conservation limitations.
1. Release of the guarantee, the absence of any legal actions, prohibitions and other requirements, which might cause the object to be overloaded.
1. The legal rights of the vendor, checking the absence of tax debts and other obligations.
Conclusion of a preliminary agreement and the introduction of a bank deposit.
1. 10%-20% of the sum of the transaction is paid to the bank as a deposit. In the case of failure to obtain a permission from the Greek Ministry of Defense, the deposit is returned.
Obtaining permission from the Greek Ministry of Defense. There is a delay of six to twelve months before a permission is granted. A voluminous file of documents will be required from the buyer.
A tax on the passage of the property right is paid by buyer.. 9 % of the contract price of the object, if the cost is lower than € 15.000. 11% of the contract price of the object, if the cost is higher than € 15.000.
The transaction of buying and selling takes place in the presence of the notary and lawyers of both parties. The presence of a lawyer is compulsory, if the sum of the transaction exceeds € 11.739. The fee for preparing the contract and required presence at the signing amounts to:
- 1% of the contract amount for contracts not exceeding € 45 000,
- 0,5% of the contract amount for contracts exceeding € 45 000,
- 0.4% of the contract amount for contracts exceeding € 1.470.000.
Other legal aspects of the transaction paid additionally: The cost of the services of the notary represents 1,2% of the contract sum. The buyer has to give the following documents to the notary:
- Proof of absence of any tax debts
- Proof of payment of the tax on the passage of property rights
- Permission from the ministry for the acquisition of real estate
The vendor has to give the following documents to the notary:
- Proof of absence of any tax debts
- Proof of absence of debts to the local authority where the object is situated
- Confirmation that the vendor has included the object to be sold in his tax declaration
- Confirmation that the object has not for the last two years been a source of profit for the vendor
- An extract from the Land cadastre
- Building permission for any units situated on the land
Registration of the new owner in the cadastre. The registration fee amounts to 0,475% of the contract sum.

The entire purchase procedure can be concluded in twelve months, starting by the request to choose a real estate object, and concluding by the registration in your name.

To accomplish this, you should travel to Crete twice: Once to select an object that will please you and a second time in order to sign one important document, when your presence in person is necessary. All the rest will be looked after by our company.�

Operating costs in Greece

admin — Fri, 20 Feb 2009 21:54:44 +0300

Average figures from municipal and other services are given below:

Water - approximately 7, 00-15, 00 € per person per month.
Cost of guaranteed water supply - 26 € per annum.
Cost per cubic metre: 0,42-1,4 €, depending on volume

Electricity - 0,07-0,11 € / Kwh
Cost depends on the area of the house, expenditure of electric power and local municipal taxes.

The consumption of electric power in summer is considerably lower than in the winter months. This is due to the fact that in Greece solar panels are used for the supply of hot water. In the winter period (November - March), houses without gas heating use diesel fuel. For a family of four, an additional expenditure for diesel fuel will be about 100 -150 € per month.

In new houses, gas heating is used more and more frequently.

Telephone house hold subscription fee of 25 € per two months. The price of telephone calls:

fixed line - 0,03 € per minute
mobile phone - 0,07 € per minute
international calls - 0,1-0,3 € per minute

Internet: 13 – 49 € per month.

Gasoline, diesel fuel(May 2011): 1.60-1.75 € per litre

Our maintenance services

admin — Fri, 20 Feb 2009 21:49:04 +0300

In order that your house will keep its attractiveness from year to year, it should be kept clean and in good order, the adjacent land should be maintained properly, including the garden and the pool.

Our services include all aspects, connected with control and care of real estate:

Installation of security systems and the protection of the house
Basic maintenance and repairs
Care of the garden and adjacent territory
Cleaning and maintenance of the pools
Cleaning up the house

But also:

Payment of the current bills
Preparation of the house for your arrival, the purchase of groceries, pick-up from the airport, car rental
Help with the insurance of real estate
Preparing the annual tax declaration
Services of a bookkeeper, a notary, a lawyer, a translator
Helping you to get settled

We regularly supply owners with a detailed report, confirmed by financial documents and photographs.

After sales management

admin — Fri, 20 Feb 2009 21:43:29 +0300

Imagine that you selected a suitable real estate and deposited the guarantee. Then came the day when you signed the contract, paid the balance, shook hands with the salesman, the lawyer and the notary, and finally found yourself the happy owner of your new property.�

What next?�

One day you may need to change some tiles in the kitchen. You have to go to the stores to find the right color and to check the people who do the work.

In winter it may be necessary to empty the pool . . . and to fill it with water in spring.

The weeds in the garden need to be removed, new trees and bushes have to be planted . . .

You may want to prepare the house for the arrival of the family and to stock up groceries... (The flight arrives at night, when all stores are closed. Or the flight may be delayed several hours)

And, of course, don't forget to pay the bills in time for the telephone, electricity, etc. And you need a bookkeeper in order to fill in your tax declaration...

All these "pleasant trifles" can be arranged directly from Russia, without any worry or stress, by calling one single number: +30 6932 909 784.

Building technology in Greece

admin — Fri, 20 Feb 2009 21:27:36 +0300

It is typical on the island of Crete to build concrete-brick houses or houses built with the local natural stone. Other technologies are also used, such as monolithic building, composite wall blocks, hollow planking for the erection of houses similar to the principle of �Lego, stainless steel structures, and a combination of these.�

Greek concrete-brick houses.

The majority of houses in Crete are built precisely according to this technology. A concrete foundation, carrying buck stays and overlaps form the rigid monolithic structure of the house.

A high-quality steel reinforced concrete, which corresponds to international anti-seismic standards, is used.

The brick blocks, produced locally, are suitable for the erection of external and internal walls.

External walls are laid courses of two bricks, separated by a layer of thermal insulation; internal walls are built in one brick. Subsequently, the surface of the walls are plastered and finished as required by the customer.

Greek stone houses

After visiting the archaeological museum in Crete and the excavations at Knossos, you will understand that the roots of this technology go back very far, and to what extent rock constructions are invulnerable.

The beautiful local natural stone is often suitable, not only for the erection of external walls, but also for constructing �enclosures and for constructing specific internal features such as fireplaces, archways, etc.

Load-bearing walls are constructed with a thickness of 45-55 cm for guaranteeing heat insulation and solidity of the house. From the inside rock walls are additionally reinforced.

You can select the type and the colour of stone to your taste, from white to different shades of beige or grey.

Stone walls do not require additional interior finishing, having already an excellent decorative quality.�

Monolithic Greek houses�

The house is assembled from finished walls and sections, which have been factory-made especially for the customer's project.

Walls have a thickness from 12-27 cm and made of hollow, reinforced concrete.

After the installation of the walls and angle-joints, the cavities are filled with concrete, forming a united monolithic construction.

This technology makes it possible to obtain exact right angles, and an ideal smoothness of the walls.

The additional outer layer of insulation, 7 cm thick, provides the necessary thermal insulation, protecting the concrete from cracking as a result of a drop in temperature.

After a few weeks, the house is ready for finishing.

House design on Crete

admin — Fri, 20 Feb 2009 14:39:59 +0300

When the development of the design of your future house is made, an entire complex of architectural and construction work is thoroughly planned.

We combine all the necessary work connected with the realization of the construction project: design (from the draft proposal to a very detailed study of the design of the interior, landscaping, monitoring systems, etc), control of all construction and decoration processes, the construction of the adjacent space, the erection of additional buildings, the installation of video-observation and security systems.

This approach is convenient both for the customer and for the builder and ensures the best possible result.

Our architect will help you create the design-project of the house, giving information materials and prices. This will help you in the best possible way to respect the framework of the budget and to observe all construction regulations.

You will be able to see your individual design-project on the computer and to make corrections, if necessary, without having to travel to Crete, or even leaving your home.

Preparation of the construction works:

admin — Fri, 20 Feb 2009 14:36:55 +0300

Inspection of the plot of land
Obtaining information about the land and drawing up a plan
Making up all required building plans
Obtaining permission for the building
Ensuring that all underground or above-ground communications are approved by the appropriate controlling authorities
Ensuring that the project is in agreement with the ecological, health, hygiene and fire-prevention regulations

A Greek civil engineer is responsible for obtaining building permission, and for ensuring that quality of the building corresponds to the requirements of the customer, and that the standards of the building correspond to the use of the house.

When setting up the agreement, you will obtain a detailed building specification of your house. On the basis of this detailed information, you can rest assured as to the materials employed, as well as the safety and the observance of the necessary construction standards.

You will be able to track the progress, without leaving Russia: we regularly prepare photographic reports of the building and, if required, a video.

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