# Letting my House??



## Nick23 (Apr 25, 2012)

Have finally got the number for the EOT so went to see my accountant about letting the house for Holiday Lets.
He informed me that in order to let the house, it would be necassary for me to start/register as a company and begin paying TEVE TAX? 
Has anyone else heard of this??? I have scrolled the net without finding any reference to it!!!


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## Jolly Roger (Dec 4, 2011)

Nick23 said:


> Have finally got the number for the EOT so went to see my accountant about letting the house for Holiday Lets.
> He informed me that in order to let the house, it would be necassary for me to start/register as a company and begin paying TEVE TAX?
> Has anyone else heard of this??? I have scrolled the net without finding any reference to it!!!


Tevi is the Greek health insurance for self employed. It is the equivalent of Ika paid by employees.


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## Nick23 (Apr 25, 2012)

Thanks for that, but my real query is whether or not I need to form a company to let my house??


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## Jolly Roger (Dec 4, 2011)

Nick23 said:


> Thanks for that, but my real query is whether or not I need to form a company to let my house??


Sorry, misunderstood your request. I would think that if you are going to make money out of letting your house, then you will need to be registered as self employed and start paying Greek Tax and Insurance.


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## wka (Sep 18, 2009)

You intend to let it to various people right? Not to rent it to one person for a year or something along those lines? If so, yes you're a business so you'll have to pay self-employed business tax and OAEE insurance.


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## Nick23 (Apr 25, 2012)

Does that still apply if im still paying my uk stamp and national insurance????


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## wka (Sep 18, 2009)

Your Greek business will owe business taxes and insurance regardless of what you are doing in other countries. 

Greek law basically says that a business owner (including hotelier) is required to pay into OAEE unless they are otherwise required to be covered under a different primary insurer. The question is if the "otherwise required to be covered under a different primary insurer" can equal your UK insurance. I sure as heck don't know but your lawyer should.


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## Nick23 (Apr 25, 2012)

Any idea on what this is likely to cost??


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## wka (Sep 18, 2009)

not sure, but at least a few hundred €€/month.


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## Nick23 (Apr 25, 2012)

Thats alot of money!!!!!!!!!

I cant believe I cant find out more on the net about this.

There must be 1000's of people letting their homes in Greece, do you think they are bilissfully unaware of the actual legalaties???


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## wka (Sep 18, 2009)

What do you mean "letting their homes"? My landlord lets his home to me, he's not paying hundreds of euros/month in taxes on my rent. Maybe if you could explain better what your business model is, ... ?


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## Nick23 (Apr 25, 2012)

wka said:


> What do you mean "letting their homes"? My landlord lets his home to me, he's not paying hundreds of euros/month in taxes on my rent. Maybe if you could explain better what your business model is, ... ?


It will be holiday Lets, not full time.


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## wka (Sep 18, 2009)

one or many per season? you're not being clear. there are several different categories. it's hard to help when you can't clarify.


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## Nick23 (Apr 25, 2012)

3 bedrooms, with a capacity of 8 persons


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## wka (Sep 18, 2009)

until you answer my question, I can't help you sorry


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## Nick23 (Apr 25, 2012)

Sorry was a bit vauge!!
We intend to advertise it in the UK as a holiday let, letting it on a weekly basis with the price varying due to the time of year.
The lets would be from the beggining of May to the end of October.
We would clean the house and do the laundry.


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## wka (Sep 18, 2009)

Because it's on a weekly basis, you'll be treated like 'rooms for rent' (Enoikiasomena Domatia in Greek) - and you will have to pay taxes both on what you make and for the business itself; as well as the OAEE contributions which are a few hundred (I think it's about €300/month - I'm not sure of the amount - the amount goes up if you make a lot of money I think). If you were to have employees, like someone to clean the rooms, you would have to pay their IKA insurance contributions too, so best to do it all yourself if you can I think. What you're describing sounds like a regular Rented Rooms business, with you living there taking care of the guests who come and go on a weekly basis all summer. 

There are a number of rules that I don't know - for example if it's your only home in Greece, and if you live in it regularly, that may help - I wish I knew more but you can ask your accountant or lawyer if you declaring it your residence will help for tax/insurance purposes.


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