A new regulation allows key affiliated individuals in businesses—such as managers, consultants, shareholders, and those with up to 5% ownership—to sell or donate their real estate (including parental transfers) even if their company has state debts under a settlement agreement.
This announcement was made by the Minister of National Economy and Finance, Kyriakos Pierrakakis, at the “Greece 2025–2030” conference. He stated that for shareholders exceeding 5%, a more flexible process will be established to ensure state protection. The previous required payment, which could be as high as 70%, may be lowered to 7% if managers provide another property as collateral.
“The state should support, not penalize,” Mr. Pierrakakis remarked, emphasizing that “settlements should not be punitive.”
Rent Refunds for Electronic Payments Only
As per Mr. Pierrakakis, rent refunds will now be processed through banking transactions:
- Individuals must pay rent through a bank to qualify for housing financial support.
- Businesses need to pay commercial rent via bank accounts for rental expenses to be deductible.
- Property owners can only receive a 5% expense deduction (e.g., for renovation costs) if payments are made electronically.
Incentives to Revitalize Closed Properties
The Minister discussed incentives designed to urge property owners to reactivate closed properties. In addition to tax measures—which will be unveiled by the Prime Minister at the Thessaloniki International Fair (TIF)—Mr. Pierrakakis mentioned social exchange mechanisms and a comprehensive inventory of state-owned properties.
“Through ETAD (the Hellenic Public Properties Company), approximately 36,000 properties will be made available, alongside those held by banks and servicers,” he noted, stressing the importance of a regulatory framework to utilize inactive charitable foundations. “We need a supply surge,” he asserted. “The management and regulation of public real estate must occur simultaneously and promptly,” he added.
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