Supporting Investment and Business

The local economy is mainly based on tourism and agriculture. At the same time, it possesses an advanced tertiary sector that covers a wide scope of services such as legal, accounting, medical, construction, education, transport, IT etc.

During the 2010-2013 fiscal crisis, Nafplio’ s economy was hit but only mildly. Today, the local economy is once again growing, boosted by the positive touristic activity as well as by innovative agricultural projects that aim to be competitive at an international level.

Firms and individuals wishing to invest in the local economy may do so in a wide variety of fields such as tourism, agriculture, real estate, energy, the environment, health and education.
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Our Office in cooperation with trusted economists, financial analysts, accountants and other specialists aims to support investment in the touristic sector. Nafplio and its surrounding areas are well known destinations and so are the ideal places for implementing business projects in the field of tourism.

Nafplio is a touristic brand name and mainly owes its attraction to its beauty and history. Moreover its proximity to Athens and its closeness to beautiful beaches and numerous important archeological sites (the most prominent being the UNESCO World Heritage Sites of ancient Mycenae, ancient Tyrins and the Sanctuary of Epidaurus) play an important role to its established fame as an appealing destination.

Over the years, Nafplio has managed to become a city that can cover all different interests and tastes that its visitors may have such as attending cultural events, visiting nearby historical sites, swimming and sunbathing on magnificent beaches, enjoying nightlife, participating in conferences etc. Needless to say that the city possesses an advanced touristic infrastructure consisting of over seventy hotels (http://www.all-about-nafplio.com/hotels) as well as many cafeterias, night clubs, bars etc.

Argolida’s prospects can be illustrated by the fact that many projects related to the touristic sector are currently being carried out. Among the most important of these are:

1. the construction of a marina in Nafplio
2. the construction of a seawater aerodrome in Nafplio, that is projected to be linked to a network of over 100 seawater aerodromes around Greece that are currently under development.
3. the development of a 420 million euros investment by Dolphin Capital Investments concerning the construction of a full encompassing hotel in Porto Cheli.

Nevertheless, Argolida is a place in which many more projects related to tourism could be developed and the area is in need of innovative business plans that will manage to highlight the archeological, historical and environmental aspects of the land.

Argolida is the area of Greece with the highest production of oranges, mandarins and artichokes. Large portions of grapes, apricots, melons and olives are also grown in the area.

Argolida is famous for the quality of its products and mainly for the quality of its oranges, mandarins, artichokes and melons. Despite however their high quality there is a strong feeling among the local population and the consumers that the products are heavily underpriced. Therefore, investments in marketing, logistics and modern export methods are presumed to promise a high rate of return. In any event, many local farmers and exporters are currently implementing innovative business plans and to this end seek expertise, strategic partnerships, access to new markets and in some cases funding that will ensure that the area’s products are sold at the value they deserve.

The fiscal crisis that Greece went through caused real estate prices in the country to drop dramatically. However, the gradual stabilization of the country’s economy as well as the restoration of its fiscal health, will – according to many estimates – lead house prices upwards in the medium to long term as they are now considered to be at a very low level. Therefore, this is a period that might prove to be unique for people wishing to either purchase a summer house or invest in real estate in Greece.

Foreigners usually buy real estate in Greece as summer houses. To this end, houses in Argolida offer numerous advantages such as proximity to Athens (International Airport and Top-Class Hospitals) and to wonderful beaches. Moreover, Argolida also offers a unique cultural environment (Epidaurus summer festival, Nafplion Music Festival, many museums and many archeological sites, three of which – Mycenae, Tyrins and Epidaurus – are UNESCO World Heritage Sites) as well as the benefits of the mild Mediterranean climate.

All Real Estate in Nafplio (and Argos) is registered in the National Cadastre and thus real estate property is well protected.

Unfortunately, not all of Nafplio’ s surrounding areas have been included in the National Cadastre but Land Registries documenting real estate property cover all areas. In these cases, legal and expert advise is of a great importance and should necessarily be sought. Nevertheless, all areas are to be recorded in the National Cadastre by 2020.

It is important to note that the latest investment law offers foreigners who own real estate property of a value of 250.000€ or more, the chance to acquire a 5 year stay permit for themselves and the members of their close family. This permit will allow its holders to travel to all countries belonging to the Schengen area without needing an additional VISA.

In all cases of real estate transfers, a contract must be drawn by a notary.

People interested in buying real estate can do so by using relevant websites and by contacting local real estate agencies.

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