This EOT Licence Page is from the Completely Crete Property in Crete section.
If you want to let out your Crete property you will need to acquire an EOT Licence (Ellinikos Organismos Tourismou) issued by the Greek National Tourist Organisation. This is a legal requirement if you intend to rent out your Greek or Crete property on a short-term let basis to tourists.
The following information and advice comes from the website of ASSETSURE Insurance for Holiday Homes and Second Homes.Holiday Homes in Greece
- one of the areas where purchasers of second holiday homes in Greece do come unstuck is regard to renting the property out to holiday makers to try to recoup some of the mortgage costs. This is not straight forward in Greece and if you are considering renting your property for periods of less than 3 months then you will need to secure an EOT licence from the Greek Tourist Office. This law applies whether you are going to rent via a holiday letting company or just to your friends, you will still need to obtain the licence.
Recently, the Greek authorities have started to clamp down on Holiday Home owners that do not have the necessary licence, if you are caught renting your property without the necessary permit, you could face a very hefty fine and may even face deportation.
Greek Holiday Home Letting Regulations - If you are intending to rent your property for periods over 3 months, you do not need to acquire a licence, but it is still best to check with the local authority. You can find offices of the EOT in most towns or you can visit their website at EOT for the latest information.
You should bear in mind that obtaining a licence is costly and time consuming and you will probably find it a good deal easier if you employ the services of a local person well versed in these matters to assist you. A licence could set you back 3000 euros or more and will be valid for 5 years, after this period, renewal costs are minimal. Many people have purchased property in Greece for holiday rental purposes only to discover that the tourist board have stopped issuing licences in that area because of over saturation of the market, it is thus vital that you do your home work before buying a Greek Holiday home for rental purposes.
To a certain extent the Greeks must be applauded, the issue of licences is designed to ensure that holiday accommodation is of a sufficient standard and the government is very keen than visitors to the islands can stay in property that is safe and will give the renter a good impression of Greek standards. The EOT licence will confirm that your property meets the exacting standards of the Greek Tourist board
The EOT Licence - as well as the cost, acquiring the licence can be quite complicated. The rules vary from one region to another and each property is considered on its merits. Would be Holiday home owners are warned that the criteria could change but the following is typical of what's involved. Having access to an architect is vital if you are buying a new home, if you are considering buying an older property, check that you can bring it up to the standards required to obtain the EOT licence.
The following are important considerations before applying for the licence:
Holiday Home Licence - one you have got past the above hurdles you can go to the application stage. EOT will need a complete list of plans, both architectural and structural, these most be prepared by an architect or structural; engineer. EOT may take them at face value or they may arrange a site visit. At this stage you will be issued with a reference number. The following supporting documents will then be required before the grant of the short term holiday rental licence:-
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