Aggelakakis & Associates has formed a strategic partnership in Melbourne to serve Greek-Australian investors, families and businesses that hold, inherit or plan to commit capital in Greece.
The partnership complements the firm’s offices in Thessaloniki (HQ), Athens, Munich, New Jersey and Mumbai: six hubs across five countries. Melbourne is a strategic partnership, not an office.
For an investor in Victoria or New South Wales, the hardest part of a Greek project is rarely the asset itself. It is distance, fragmented advice, and an administrative system that works in another language, on another clock and under rules that change.
Why distance is the real risk
Capital sent to Greece from abroad is more often lost to poor coordination than to a poor asset. Typical causes are an inheritance that was never formally accepted, an extension that was never legalised, a grant application that fails on a formality, or a tax position that nobody checked on both sides. Each of these can be resolved. Each costs more when it is discovered late.
Informal networks (a relative, a local agent, a lawyer recommended by a friend) work until two of them disagree. The Melbourne partnership gives Greek-Australian clients a structured starting point, in their own time zone, for working out what needs to be in place before capital moves.
Four areas covered for Greek-Australian clients
1. Real estate due diligence
Many diaspora property decisions start as emotional ones. Before a purchase, the checks that matter are title and cadastre registration, planning compliance (including unlicensed extensions), debts attached to the property, and a realistic view of rental demand. Where a Greek Golden Visa is relevant, it is a residence permit, not Greek citizenship; its thresholds are set by Greek immigration law and change, so they are verified at the time of each mandate.
➔ See the Invest in Greece page.
2. Inherited family property
Family property in Greece often sits idle because the inheritance was never formally accepted, the title is incomplete, or ownership is split among relatives in several countries. Resolving it involves Greek lawyers, notaries, engineers and the Independent Authority for Public Revenue (AADE). Aggelakakis & Associates coordinates that work so the family receives one plan and one point of contact. Timelines depend on the registries, the courts and every co-owner, and cannot be fixed in advance.
➔ See the Services page.
3. Business investment and public funding
A Greek-Australian business opening operations in Greece, for example in tourism, logistics, manufacturing or energy, may be eligible for public support. The main instruments are the Greek Development Law (Law 4887/2022, as amended by Law 5203/2025 (GG A’ 87/02.06.2025) and Law 5297/2026 (GG A’ 64/28.04.2026)), ESPA co-funded programmes and Recovery and Resilience Facility loans. Eligibility, aid intensity and timing depend on the scheme, the region, the size of the company and the specific call. Under EU state-aid rules, the investor must fund at least 25% of eligible costs from sources free of public support (Article 14(14), Regulation (EU) No 651/2014).
➔ See the Funding Tools page.
4. Cross-border tax coordination
Australia and Greece have no comprehensive double taxation agreement in force. The 1980/81 agreement covers airline profits only, and negotiations that began on 23 February 2022 have not been concluded. In practice, income from Greek property or a Greek company can be taxed in both countries unless relief is available under each country’s domestic rules. The firm coordinates the Greek side and works alongside the client’s Australian tax adviser on the Australian side; it does not give Australian tax advice.
Risks and considerations
- Double taxation. Until a comprehensive agreement is in force, relief depends on domestic rules in each country. Structures should be reviewed by advisers in both jurisdictions before income starts to flow.
- Currency. Rental income, sale proceeds and grants are earned in euros. For an Australian investor, AUD/EUR movements can add to or erase a return.
- Administrative timelines. Cadastre corrections, inheritance acceptance, licensing and grant evaluations vary by case and are outside the applicant’s control.
- Public funding is not certain. Calls open and close, budgets are limited, and applications can be rejected on eligibility or documentation. No adviser can guarantee approval, timeline or aid amount.
- Liquidity. Property outside Athens and Thessaloniki, and on smaller islands, can take considerably longer to sell. The exit should be planned before the purchase.
Where to start
The first step is an Investment Readiness Screening. It establishes whether a mandate is suitable for assessment and sets out the three to five main open questions the full assessment would examine. It does not produce a score or a grade.
Request an Investment Readiness Screening
No adviser can guarantee approval, timeline or aid amount. Content on this site is general information, not legal or tax advice.
