Greece has one of the largest concentrations of yachts for sale in the Mediterranean. The combination of a long charter tradition, thousands of kilometres of coastline and a mature service industry means that at any given time several hundred vessels are available, from small cruising yachts to commercial passenger vessels.
That choice is an advantage. It also means the buying process carries specific requirements that differ from other markets, particularly around VAT, flag registration and commercial licensing. This guide sets out how a purchase actually works in Greece, in the order the steps occur.
Before you start: define what you are buying for
The single decision that shapes everything else is whether the yacht will be used privately, commercially, or both.
Private use means the yacht is for you, your family and guests. No charter income, no commercial licence, and the VAT treatment is straightforward: the vessel must be VAT paid within the EU, or operated under a temporary admission scheme if you are a non-EU resident.
Commercial use means the yacht is chartered to paying guests. In Greece this requires registration in the commercial registry (e-MHTE), a valid charter licence, compliance with safety and crew requirements, and periodic inspections. In return, commercial vessels benefit from duty-free fuel and, in many cases, favourable VAT treatment on the purchase.
Mixed use is common: owners use the yacht for part of the season and charter it for the rest to offset running costs. This is possible but must be structured correctly from the outset, because switching a vessel between private and commercial status after purchase is slower and more expensive than setting it up properly at the start.
Decide this before you shortlist, because it determines which vessels are even suitable.
Step 1: Shortlisting
A serious shortlist is built around four constraints, in this order.
Budget, including running costs. The purchase price is the smaller part of the equation over a five-year horizon. Annual running costs for a well-maintained motor yacht typically fall between 8% and 12% of the vessel’s value, covering berthing, insurance, crew, maintenance, antifouling, surveys and fuel. A yacht bought at the top of your budget with no reserve for the first year of maintenance is a common and expensive mistake.
Intended cruising area. The Aegean and the Ionian make different demands. The Cyclades are exposed to the meltemi, the northerly wind that blows strongly from June to September and can reach force 7 or above for days at a time. Vessels for the Cyclades need sea-keeping ability and, for motor yachts, effective stabilisation. The Ionian is calmer and more forgiving, which widens the range of suitable vessels considerably.
Guest capacity and layout. Cabin count matters more than length. A 24-metre yacht with four well-proportioned cabins is more useful than a 28-metre with three, if you regularly travel with family or guests. For charter, the number of guests the vessel is licensed to carry directly determines revenue potential.
Age and refit history. A twenty-year-old yacht with documented refits and a recent engine overhaul is frequently a better purchase than a twelve-year-old with deferred maintenance. Ask for the service history early, before you invest time in viewings.
Step 2: Viewing
Viewings in Greece are usually arranged at the vessel’s berth, most often in the Athens area, at Alimos, Zea or Lavrio, or at regional marinas in the Ionian and the Dodecanese.
A productive viewing covers more than the interior. Look at the engine room with the engines cold and then running. Check the bilges for oil or water. Ask when the antifouling was last done and by whom. Look at the tender, the davit and the deck equipment, which are expensive to replace and often neglected.
Take photographs of anything that concerns you. If you later commission a survey, these give the surveyor specific points to examine.
Step 3: Offer and memorandum of agreement
Once you have chosen a vessel, the offer is normally made subject to satisfactory survey and sea trial. This is standard practice and protects both sides: you are committing to buy provided the vessel is as described, and the seller is committing to sell at the agreed price provided it is.
The memorandum of agreement sets out the price, the deposit (typically 10%), the survey deadline, the closing date and what happens if the survey reveals material defects. The deposit is held in escrow, not released to the seller until closing.
In Greece, brokerage commission is paid by the seller, not the buyer, in line with international practice.
Step 4: Survey and sea trial
The survey is the most important expenditure in the process and the one buyers most often try to economise on. Do not.
An independent surveyor, appointed by you and not by the seller or the broker, inspects the hull, structure, machinery, electrical systems, safety equipment and documentation. For vessels above a certain size or age, a hull thickness survey and an out-of-water inspection are advisable.
The sea trial confirms that the vessel performs as described: engine performance at cruising and maximum revolutions, steering, stabilisers, generators, air conditioning, navigation electronics. Systems that work at the berth sometimes do not work underway, and this is when you find out.
Survey costs are borne by the buyer. Depending on size, expect several thousand euros including haul-out. Against a six or seven-figure purchase, this is the cheapest insurance available.
If the survey reveals defects, the normal outcomes are a price adjustment, the seller undertaking repairs before closing, or withdrawal with the deposit returned.
Step 5: VAT status
This deserves its own section because it materially affects both price and what you can legally do with the vessel.
Within the European Union, a yacht is either VAT paid or VAT not paid.
A VAT paid vessel has had EU VAT settled at some point in its history, and documentation exists to prove it. It can circulate freely within EU waters without further VAT liability. This is what most EU-resident private buyers need.
A VAT not paid vessel has not. This is common for yachts registered outside the EU and for commercially registered vessels. A non-EU resident can bring such a vessel into EU waters under temporary admission, which permits use for a limited period, typically eighteen months, after which the vessel must leave EU waters or be formally imported with VAT paid.
Asking prices in Greece are frequently quoted ex-VAT for commercially registered vessels. A price that looks attractive relative to comparable yachts elsewhere may simply reflect that VAT has not been paid. Always establish which applies before comparing prices, and always verify the documentation rather than accepting a verbal assurance.
Step 6: Flag and registration
The Greek flag is the natural choice if the vessel will be based and used primarily in Greece, and it is required for commercial charter operations departing from Greek ports with Greek-flagged vessels. Registration involves the Greek ship registry, and the vessel must meet the applicable safety and manning requirements.
Alternative flags such as Malta, the Marshall Islands or the Cayman Islands are common for larger yachts and for owners with international cruising plans. Each has different requirements regarding ownership structure, tonnage measurement, survey regime and crew certification.
The choice is not purely administrative. It affects VAT treatment, what crew qualifications are required, which safety code applies, and where the vessel can operate commercially. This is one of the areas where taking advice before committing saves considerable cost later.
Step 7: Closing
At closing, the balance of the purchase price is transferred, the bill of sale is executed, the vessel is deleted from the previous registry and registered in the new owner’s name, and physical delivery takes place.
Practical matters that are easy to overlook and should be resolved before closing: transfer or renewal of the berth, insurance cover from the moment of transfer, crew arrangements if the vessel is crewed, and handover of manuals, keys, certificates and service records.
How long does it take
For a straightforward purchase with no complications, from accepted offer to delivery typically takes four to eight weeks. Survey scheduling, haul-out availability and registry processing are the usual constraints.
Purchases involving a change of flag, a company structure, or a vessel with incomplete documentation take longer. Allow three months for anything unusual.
Common mistakes
Skipping or economising on the survey. The most expensive decision in the entire process.
Comparing prices without checking VAT status. A €1.4M VAT-paid yacht and a €1.4M ex-VAT yacht are not comparable purchases.
Underestimating running costs. Budget for the first year of ownership before you finalise the purchase price.
Buying for the wrong sea. A vessel that is perfect in the Ionian may be uncomfortable in the summer Cyclades.
Assuming commercial registration is easily reversed. Changing a vessel’s status after purchase is slower and more costly than getting it right initially.
Working with a Greek brokerage
Yachts based in Greece carry requirements around VAT, flag, commercial licensing and berthing that differ from other markets. A brokerage based in Athens has direct relationships with surveyors, yards, marinas and maritime lawyers across the country, and knows which vessels are genuinely available and at what price comparable yachts have actually sold.
Yachts Greece has been arranging yacht sales and purchases in Greece since 1979. We currently list over five hundred yachts for sale, across motor yachts, sailing yachts, catamarans, motor sailers and commercial vessels, and we handle the full process from selection through survey, negotiation, VAT verification, registration and delivery.
Contact: +30 210 983 6312 · info@yachtsgreece.com · Themistokleous 58, Alimos, Athens