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14 January 2025

Greece, often celebrated for its rich history and stunning landscapes, is rapidly emerging as a prime destination for real estate investments. The combination of low taxation, attractive investment opportunities, and a stable political environment makes Greece a compelling choice for both local and international investors.

Low Taxation: A Competitive Advantage

One of the most significant advantages of investing in Greece is its low tax regime. The Greek government has implemented various tax incentives aimed at attracting foreign investments. This includes reduced property taxes and favorable capital gains tax rates, which enhance the profitability of real estate investments. Such favorable conditions allow investors to maximize their returns while minimizing their tax liabilities.

Opportunities for Mass Investments

In recent years, there has been a surge in mass investments in the Greek real estate market, particularly through the acquisition of distressed assets. Foreign funds have strategically purchased large portfolios of loans at substantial discounts. These loans often come with underlying real estate assets that are now being sold off at competitive prices. This presents a unique opportunity for investors to acquire properties at lower costs, particularly in urban areas and popular tourist destinations.

Structured Deals: Tailored Investment Solutions

The current market offers a variety of structured deals that cater to different investment strategies. These deals often include:

• Bulk Property Sales: Investors can purchase multiple properties at once, benefiting from economies of scale.
• Joint Ventures: Collaborations with local developers or funds to share risks and rewards in property development projects.
• Financing Options: Innovative financial products that reduce upfront costs and enhance cash flow for investors.

These structured opportunities not only facilitate entry into the market but also provide avenues for maximizing investment returns.

Political Stability: A Foundation for Growth

Greece's political landscape has stabilized significantly over the past few years, contributing to a more favorable investment climate. As a central player in the Mediterranean region, Greece has positioned itself as a bastion of stability amidst geopolitical uncertainties. This stability is crucial for investors looking for reliable markets with growth potential.

Consequently, as the country continues to develop and modernize, it offers unparalleled potential for growth and profitability in the real estate sector. Investors who recognize these opportunities can position themselves advantageously in one of Europe’s most promising markets.

D.GOULIELMOS & PARTNERS is a leading Law Firm with over 250 acquisitions and mergers in the last 20 years, including deals with Greece’s top companies across various sectors. In the past 6 years, Greece has emerged as a top ROI investment destination, especially in Hospitality, Real Estate, and Hi-Tech.

The firm is fully equipped to provide services in Antitrust, Competition, corporate and tax consultation, and connections with Big 4 Accounting firms, private firms, engineering firms, real estate, brokerage, and top Construction Companies.

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11 November 2024

The Golden Visa is a Greek residency permit that is one of the most popular investment visa schemes in the EU. This visa is created as a residence-by-investment option, allowing non-EU citizens to seek residency in Greece through the purchase of real estate.

The programme has received widespread reputation in recent years due to its flexibility and numerous advantages. However, as of the most recent update, the minimum necessary investment has risen to €800,000 for individuals looking to invest in high-demand regions like Athens, Thessaloniki, Santorini, Mykonos and islands with a population of at least 3,100 residents. For all other regions of Greece, the minimum investment remains at €400,000.

One of the primary advantages of the Greek Golden Visa is that it opens the door to citizenship after seven years of presence in this country. This long-term advantage permits visa holders to become Greek citizens provided they satisfy the residency criteria. Furthermore, Golden Visa holders enjoy visa-free travel within Europe’s Schengen area, which comprises 26 European nations, making it an extremely appealing choice for anyone looking to travel freely across Europe.

Another significant advantage of the Greek Golden Visa programme is that there are no restrictions for becoming a Greek tax resident. This implies that investors can keep their primary tax domicile in another nation if they like. Furthermore, the programme lets you add family members, such as your husband, wife and children in the residency permit, making it an adaptable alternative for families wishing to migrate or establish a second residence in Europe.

When it comes to citizenship criteria, the Greek Golden Visa programme does not need applicants to complete any Greek language or history examinations, making it a more straightforward and accessible choice than other countries’ citizenship-by-investment schemes. However, if you intend to seek Greek citizenship, you must reside in Greece for seven years. Otherwise, there is no need to live in Greece to keep the residency permit.

Apart from real estate, candidates can invest in stocks, bonds and investment fund units. This flexibility enables investors to diversify their assets while maintaining residence in Greece. Those who acquire real estate might use it as a personal residence or as a successful investment asset that can provide rental income or increase in value over time.

If you want to move to a warm Mediterranean nation, live by the sea, or have better access to European countries, the Greek Golden Visa might be the best option for you. It provides a balanced lifestyle, investment opportunities as well as the possibility to travel around Europe.

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09 December 2024

The Greek real estate market offers unique opportunities for international investors, combining a favorable legal and tax framework with continuous demand growth and affordable prices. With the Greek economy showing dynamic growth in sectors such as real estate, tourism, technology, and renewable energy, the country emerges as an ideal destination for strategic investments that promise long-term profits and opportunities.

Sectors of the Greek Economy with Growth Opportunities

Hospitality and Tourism
Greece remains one of the world’s most popular tourist destinations, offering diversification opportunities through the development of luxury accommodations and thematic tourism, such as gastronomic, cultural, and ecotourism. Tourism accounts for approximately 25% of GDP, with annual revenue exceeding 18 billion euros. The country welcomes more than 34 million tourists annually, with demand for tourist properties continuously increasing. Returns on investments in the tourism sector, particularly in thematic hotels, range from 5-11%, making Greece an ideal destination for tourism investments.

Real Estate and Investment Opportunities
The Greek real estate market has seen significant growth since the financial crisis, with property prices remaining lower than in other European countries. Athens and the Greek islands offer prices up to 50% lower than in countries such as Italy, Spain, and France. Rising rental prices due to tourism lead to high returns for investors, while the country’s legal framework offers equal rights for foreign buyers, allowing them to freely purchase and transfer properties. The state also provides tax incentives for investments, while programs such as the Golden Visa further enhance demand.

Technology and Innovation
Technology in Greece is experiencing significant growth, making the country a hub for innovative technological solutions. The development of Greek startups and investments in the technology sector are supported by European funds and domestic initiatives. The tech scene in Greece, with dynamic development in IT, biotechnology, and emerging technologies, offers great investment opportunities.

Renewable Energy Sources
Greece, with its favorable climate conditions, offers exceptional opportunities in renewable energy, particularly in solar and wind energy. The Greek government and the European Union support green energy projects through financial incentives and funding programs. The country aims for a significant increase in energy production from renewable sources, making it an ideal destination for investments in this sector.

Investments in Mixed-use Tourism Properties
Greek legislation provides significant incentives for investments in mixed-use tourism properties, allowing the combination of hotel facilities with tourist residences that can be sold or rented. The possibility of allocating up to 50% of the built-up area for tourist residences, under certain conditions, makes Greece even more attractive for investment. After five years from the construction of the hotel, investors can convert up to 60% of the total property area into residences for sale, offering excellent commercial opportunities.

The Greek real estate market, hospitality, technology, and renewable energy sectors offer excellent opportunities for growth and investment. With the low cost of real estate compared to other European countries, increasing demand in the tourism sector, and the favorable legal and tax framework, Greece remains one of the most promising destinations for investment. The tourism, technology, and renewable energy sectors are expected to continue their dynamic growth, creating new opportunities for global investors.

D. GOULIELMOS & PARTNERS, with over 20 years of experience in the field, understands the crucial role of legal support for businesses in the Real Estate sector, building the foundations for a successful business journey.

In response to increasing client demand, D. GOULIELMOS & PARTNERS is fully prepared to offer services in areas such as competition and antitrust law, as well as corporate and tax advisory.

The firm closely collaborates with the largest audit firms (Big 4), private accounting firms, engineering companies, real estate companies, real estate agencies, and all the major construction firms in the country.

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30 October 2024

The Greek real estate market has a distinct blend of cultural attraction, strategic location and high investment potential. It has emerged as a major investment destination, drawing record levels of foreign investment. But what makes Greece so enticing from a legal and investment perspective? Let’s look at the important characteristics that make Greece a standout investment.

Strategic Location and Market Accessibility

Greece, located at the crossroads of Europe, the Middle East, Asia, and Africa, offers an excellent gateway to high-growth and rising markets in Southeast Europe and the Eastern Mediterranean. As a member of the EU and the Eurozone, Greece has access to over 140 million consumers, making it an appealing location for businesses wishing to expand their reach. 

Competitive Real Estate Prices

Due to a prolonged recession, Greek real estate remains accessible when compared to other European capitals. Athens, for example, provides relatively competitive cost per square meter without sacrificing quality. Investors can take advantage of the Greek Golden Visa Programme, which permits them to acquire property without geographical restrictions—a flexibility that is not often available in other EU nations. This legal advantage allows investors to select the property type and location that best meets their requirements.

Security & A Growing Economy 

Greece’s economy is on a good development track, thanks to recent reforms, EU money and a stable political climate. Unemployment has fallen to its lowest level in almost a decade, as the rate is forecast to 9.36% in 2024 according to Statista. The Greek government intends to invest €60 billion over the next five years on digitalization, green transportation, education and infrastructure, improving the economy and generating new prospects for real estate development. For investors, this means a more predictable and advantageous business environment.Moreover, all the other places that could or in the past had competed with Greece is now in turbulence leaving Greece to be the only secure and hustle free location in the broader area.

Low Cost of Living and High Quality of Life

Greece has a great standard of living at lower costs than many other European countries, making it an attractive destination for expatriates, remote workers and pensioners. Living costs in Greece are approximately 30% cheaper than in other Western European countries. The advantageous living circumstances, along with an investor-friendly regulatory structure, make it an attractive setting for both personal and economic endeavors.

Tourism & Friendly Environment

Tourism is a pillar of the Greek economy, drawing high-spending visitors. Following COVID-19, the tourist sector has demonstrated extraordinary resiliency, with increased worldwide investment interest. The legal and regulatory climate in Greece encourages investment in tourism-related real estate, such as hotels, resorts and rental homes. In addition to tourism, Greece is developing into other areas such as renewable energy, technology and agriculture, generating new prospects for diverse investment. Furthermore, the Hospitality principle was invented by the ancient Greeks. The word “FILOXENIA” which translates to being friendly and hospitable to visitors is a part of the Hellenic DNA.

Agriculture: A Strong Contributor to Greece’s Economy

The Greek agriculture industry is important to the country’s economy, since it produces high-quality exports such as olive oil, dairy products and honey. Greece’s dedication to excellence in primary production has consolidated its position as a vital participant in the European export scene, opening up new investment opportunities in agriculture and real estate projects.

Greece’s unique combination of competitive real estate pricing, strategic location, developing economy and investor-friendly regulatory framework makes it a top choice for real estate investment. 

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21 November 2024

Mergers and acquisitions (M&A) are powerful strategies that can drive business growth, expand market presence, increase operational efficiency, and strengthen competitive positions. Whether a company is seeking to enter new markets, acquire cutting-edge technology, or expand its product offerings, M&A offers numerous opportunities for long-term success. However, the complexity of these transactions makes it essential for businesses to rely on experienced legal advisors who ensure every step is executed flawlessly and in compliance with legal regulations.

Greece: An Emerging Investment Power

In the last 6 years Greece won its place as one of the best ROI investment places in the world. With a focus on sectors such as hospitality, real estate, and high technology, the country has seen a sharp increase in foreign direct investment. In fact, Greece has become one of the top destinations for multinational companies (MNCs) and private investors. Several factors contribute to this rise:

• Attractive Tax Regime: Greece’s tax policies have been made increasingly favorable for foreign investors, creating an inviting environment for businesses looking to expand or relocate.
• Growing Infrastructure: Continuous improvements in transportation, telecommunications, and overall infrastructure further enhance Greece’s competitiveness as a business hub.
• Post-Crisis Accessibility: The economic crisis, while challenging, has made many Greek businesses more accessible for acquisition, offering great potential at relatively low costs compared to other European countries.

European Investment Monitor (monitoring Greenfield investments), Greece recorded a significant increase in foreign direct investment. The country continues being a growing investment destination while improving comparative advantages of ROI, banking sector, friendly approach, and transport, logistics and telecommunications infrastructure.

As a result of this boom, the demand for legal expertise is on the rise. MNCs, domestic banks, and private investors are increasingly confident in the future of Greek M&A activity, particularly between 2025 and 2028.

The Role of Legal Advisors in M&A

At D. GOULIELMOS & PARTNERS, with over 20 years of experience and more than 250 successful transactions, we understand the crucial role legal support plays at every stage of a merger or acquisition, ensuring the foundation of a successful business journey.

Lawyers are the unsung heroes in the world of mergers and acquisitions. Their role extends far beyond simply drafting documents; they ensure that every deal is profitable, legally sound, and compliant with all regulatory requirements.

• Due Diligence

This is the first and most crucial phase of any M&A transaction. Lawyers perform a thorough examination of the target company, reviewing legal, financial, and operational aspects to identify any risks or issues that could jeopardize the deal. This step is critical in protecting clients from hidden liabilities.

• Negotiations and Drafting of Contracts

Legal advisors are key players in the negotiation process. They help clients understand their needs, structure deals, and secure favorable terms in contracts. Their expertise ensures that the final agreement reflects the business objectives and protects the client’s interests.

• Compliance with Legal Frameworks

M&A transactions must comply with national and European regulations. For instance, the EU Directive 2009/133 on cross-border mergers outlines specific procedures and requirements for mergers within the EU. Lawyers ensure that every step is in line with legal frameworks to avoid future complications.

• Connection with Specialized Partners

Legal experts do not work in isolation. Through a robust network of trusted partners—such as accounting firms, engineering experts, real estate agencies, and large construction companies—they provide clients with the necessary support to ensure a smooth transaction.

Strategic Success with Expert Legal Guidance

Mergers and acquisitions are strategic moves that require careful planning and expert legal guidance. Lawyers, with their experience and knowledge, ensure that each step is executed with safety, legality, and strategic precision, allowing businesses to fully capitalize on the opportunities presented by the Greek market.

In preparation for servicing this growing client demand D.GOULIELMOS & PARTNERS is already fully prepared to offer services in all related areas such as antitrust and competition practice, corporate and tax consultation, introductions to all Big 4 accounting firms, private accounting firms, engineering firms, real estate and brokerage firms, and of course all the major construction companies of the country.