Greek Member of the European Parliament Giorgos Autias has submitted a question to the European Commission asking for strict checks on foreign real estate purchases.
Autias asked the executive body whether and how it plans to inspect aggressive land acquisitions funded by capital from non-EU countries in sensitive cross-border regions, working alongside national audit authorities across member states.
The Greek lawmaker, who represents New Democracy within the European People's Party, highlighted growing alarm in border territories that carry high economic and national importance. He pointed out that reports from residents and media outlets across multiple European Union nations show that foreign land buying has intensified in recent years, prompting serious questions from local communities.
Transparency and shell companies
In a statement releasing the text of his submission, Autias urged European officials to reinforce transparency rules regarding the origin of funds, the purpose of acquisitions, and beneficial ownership structures.
He argued that the Commission must investigate complex corporate setups, focusing particularly on shell companies designed to evade taxes or mask underlying financial operations. In strategic zones, he said land and property sales should face stricter supervision and require formal clearance from national authorities whenever national issues arise.
Role of European institutions
Autias serves on the European Parliament Committee on Economic and Monetary Affairs, which oversees financial services, tax policy, and capital movement across the bloc. As the executive arm of the European Union, the European Commission oversees compliance with EU laws and monitors common market rules across member countries.
Demands for Commission action
In his submission, Autias pressed the Commission to answer three specific questions regarding its oversight strategy.
He asked whether the executive branch will allow member states to enforce strict controls in cross-border regions, whether it will verify investment types and funding sources, and whether it will examine the justification for establishing companies in these areas.
