Maxima Legal closed the deal on the purchase and reconstruction of the hotel on Crete island in Greece

Maxima Legal, together with partners from Athens (Corporate Deals) and Cyprus (Stelios Americanos & Co.) accompanied the acquisition of the hotel and land on Crete island (Greece) to create the new modern 4* hotel.

Commercial closing took place on Thursday, July 7th and was successful. In addition to the purchase of the objects, simultaneously the transactions on the renovation of the existing hotel and construction of new buildings, as well as the rental and operation of the new hotel for 5 years were closed. In addition, we have structured and implemented the corporate tax and tax models for financing the above transactions, as well as of owning and operating the hotel. We thank our colleagues and partners for the good work!

“It shall be noted a growing interest in the purchase of the tourist objects in Greece as from a part of the Russian citizens and (increasingly) from the Chinese, and the English citizens. The dynamics of development of the tourism industry in Crete and Greece in general are very positive and, given the low property prices and services in Greece, such projects can show a good margin in the range of 10-12% per year on investments” - said Vladimir Kilinkarov, head of the project legal team, the partner of Maxima Legal.