One of Greece’s most established real estate developers in the Golden Visa space – V² DEVELOPMENT currently has branches in Greece, Beijing, Shanghai, Guangzhou, Dubai, Ho Chi Minh City, Nairobi and Doha.
They are looking at expanding their global reach through strategic partnerships with investment migration agents, financial advisers, family offices and private wealth professionals to promote more investment into the Greek luxury real estate market.
A Greek developer with heritage
Established in 1962, V² DEVELOPMENT has sold over 7000 real estate assets in a wide gamut of projects, ranging from residential and retail to hotels and warehouse facilities for a total of 4.5 million square meters. V² DEVELOPMENT and its key principals were involved in the development and launch of the Greek Investor Permanent Residency Program in 2013, which became one of the most popular investment programmes (‘Golden Visa’) in the world in 2018, surpassing the American EB5 programme in terms of the actual number of approved applications.
Domestically, V² DEVELOPMENT is a respected real estate developer and has been going from growth to growth under the direction of its President Mr. Vaggelis Kteniadis, who was recently featured in Forbes Greece. Since 2013, interest has soared from the Chinese, Turkish and Russian markets with investors keen to obtain the Greek Golden Visa.
This has fueled the demand for luxury real estate properties in Greece, especially those in V² DEVELOPMENT’s portfolio. This booming international success has led to the expansion of V² DEVELOPMENT- their offices can now be found in Beijing, Shanghai, Guangzhou, Dubai, Ho Chi Minh City, Nairobi and Doha.
The future in the Greek Golden Visa sphere is full of opportunities
As 2021 is now well on its way, V² DEVELOPMENT is widening its scope keen to explore synergies with potential representatives, partners and/or agents who would like to work with them to best serve their affluent client base of investors and business owners. These could include but are not limited to:
- Financial Advisors
- Fiduciaries
- Immigration agents
- Family offices
- Private client advisers
Although the pandemic brought the Greek Golden Visa’s historic trajectory of success to a sudden halt, recently the Greek government has implemented new measures to facilitate the process of investing in Greece and applying for the golden visa. The most important of these being the ability to apply for a Greek Investor Residency Visa through a proxy without needing to travel to Greece.
Non-EU citizens who have made an investment through the three options of the Greek Golden Visa program, can apply for a residence permit through a proxy, without the obligation to previously visit Greece. The Power of Attorney for the appointment of a proxy, must be signed before a Greek Consular authority. The non-EU citizen, must enter Greece in a period of 12 months from the date of the confirmation receipt of the application, in order to submit his biometric data.
Others include the establishment of new immigration bodies to streamline the backlog of applications and make the process more efficient. As Covid-19 rakes havoc across Europe, numerous jurisdictions are exploring tax cuts for HNWIs to draw in the affluent migrant class.
To counter this, Greece has been implementing new tax initiatives to navigate through these turbulent times including a 50% tax cut for 7 years – available to foreign citizens who wish to relocate to Greece as well as to expat Greeks who want to return home. Moreover, there is a tax cap of EUR 100,000 for HNWIs who relocate their tax residency to Greece.
Read more: Greek Golden Visas Have Been Soaring in Growth, Year on Year
Why invest in Greece?
Non-EU nationals (now include UK nationals) who have legally entered Greece and who have full ownership of a property/joint ownership valued at EUR 250,000 and are of good character may apply for the Greek Golden Visa. Time Sharing agreements/hotel accommodation or serviced residences for tourists also are eligible if the term of the lease is ten years and the value of the contract sums up to EUR 250,000.
Though real estate continues to be the preferred investment category starting at an investment amount of only EUR 250,000 there are other more expensive approved investment options.
These include bank deposits, capital contributions in Greek Companies, Real Estate Companies and Venture Capital Companies that invest exclusively in Greece (EUR 400,000) as well as mutual fund investments that for funds that invest in corporate bonds, Greek Treasury bonds etc… (EUR 800,000).
Greece presents a unique investment and residency solution for investors due to its visa-free access to the Schengen Area, incredible returns on investment and the interminable demand for a foothold in this Mediterranean paradise.
The cost of investment in real estate is comparatively low in Greece vis-a-vis other EU Member states, making it increasingly attractive for real estate investors keen to capitalize returns in the long run. If investors wish to relocate with their families, Greece offers a myriad of lifestyle benefits, excellent access to healthcare, public services, and a stable socio-political environment.
If your clients are exploring residency/citizenship options in Europe – Greece is certainly a market to consider – not only will its real estate prices surge post-pandemic – as the backlog of Golden Visa applications get processed – but once travel resumes – Greece will again resume its position as one of the most attractive tourism jurisdictions in the world.
Why partner with V² DEVELOPMENT in Greece?
V² DEVELOPMENT has a long-standing history of service and reliability in Greece. Your clients are safe in the knowledge that their investments are safe with a leading reputable real estate player in Greece.
V² DEVELOPMENT is looking at building new partnerships with representatives and intermediaries who have established networks of HNWI clients. They offer full support to all their agents globally and as President of V² DEVELOPMENT was quoted in his recent Forbes Greece article, one of their goals for 2021 is to:
“Allow our company and our partners to constantly evolve, with the outer goal of achieving full potential” President of V² DEVELOPMENT- Mr. Vaggelis Kteniadis.
A new partnership with V2 could add a string to your company’s bow of service offerings and revenue streams.
