Greece is moving forward with a significant institutional reform aimed at creating a clear and efficient framework for managing assets seized by the state due to suspected links to criminal activities. A specially formed task force has been established to draft a Joint Ministerial Decision (JMD) that will set the rules for how these assets—whether they be real estate, cash, vehicles, or other goods—are to be handled until a final court ruling is issued.
This initiative seeks to address a longstanding gap in Greek legislation, where no structured process existed for the treatment of assets seized during criminal investigations. As a result, properties and valuables would often be left unused, neglected, or even deteriorate over the course of protracted legal proceedings.
The task force, composed of experts from various ministries and government services—including specialists in law, finance, and taxation—is charged with designing a system that ensures transparency, legality, and practicality. Their mission is to propose a fair and operational mechanism that not only safeguards the seized property but also allows for its temporary use or even sale when necessary, always with the state’s interests in mind.
The need for such a framework has become pressing in recent years, due to the growing volume of frozen assets tied to criminal probes. Many of these assets—ranging from luxury homes and expensive cars to large sums of money—are either abandoned or tied up indefinitely, awaiting judicial resolution. According to Article 24 of Law 5042/2023, such assets must now be managed in an organized manner that protects both the public interest and the rights of the accused, in case of eventual acquittal.
The upcoming JMD will establish clear responsibilities: which agencies are in charge of safekeeping or managing the assets, how asset registries will be maintained, how operating costs (such as property maintenance or vehicle storage) will be covered, and what procedures must be followed for the temporary use or liquidation of these assets.
Through this initiative, the government aims to bring order to a previously fragmented area, safeguard public resources, and speed up the judicial process, particularly in cases of financial or organized crime. The JMD is seen as a critical step in fully implementing the newly established legal framework.
For example, in a financial crime case where authorities seize a villa worth €1 million, the new rules may allow the state to rent out the property, secure it appropriately, or even sell it if it is deemed beneficial—retaining the proceeds until the court case concludes.
