NEW YORK, NY – [Photos: HACC]
The Hellenic-American Chamber of Commerce (HACC), in cooperation with the Hellenic Lawyers Association (HLA), presented an informative and highly attended program, “Real Estate Bought or Inherited in Greece and Bank Financing,” on September 29 at Chiotes Hall in New York City.
Held under the auspices of the Consulate General of Greece in New York, the program brought together leading professionals from Greece and the United States to address issues of significant interest to Greek Americans, members of the diaspora, and others considering purchasing, financing, inheriting, or managing property in Greece.
More than 270 questions were submitted by registrants in advance of the event, many of which were incorporated into the presentations and discussion. Alpha Bank also undertook to respond to questions relating to banking, real estate, and financing, with the answers, event recording, and presentations to be made available through the Hellenic-American Chamber of Commerce website www.hellenicamerican.cc
HACC President Eftihia Pylarinou-Piper welcomed attendees and thanked the Consulate General of Greece in New York for placing the program under its auspices, as well as the event’s sponsors, Alpha Bank and Pardalis & Nohavicka Attorneys. She emphasized the Chamber’s commitment to bringing together experts who can provide Greek Americans and friends of Greece with accurate, practical information on issues affecting their personal, professional, and financial connections with Greece.
John Zervopoulos, President of the Hellenic Lawyers Association, also welcomed guests and underscored the personal significance of Greek real estate for many members of the diaspora. For Greek Americans, he noted, property in Greece is often much more than an investment, representing a family home or an inheritance passed down through generations. The evening was designed to help address the complexities that can accompany property ownership, inheritance, title matters, taxation, financing, and the Greek banking system.
The first portion of the program focused on the Greek economy and real estate market, property acquisition, banking, and financing.
Ioannis Ganos, CEO of Alpha Real Estate Services S.A., provided an overview of the Greek economy and real estate market, discussing current market conditions, investment activity, infrastructure development, regional opportunities, and factors influencing property values and demand.
George Pipergias, Real Estate Consultant with Amvrosia Development, moderated the real estate and banking discussion from Athens and brought the perspective of a Greek American who has lived and worked in Greece for approximately 25 years. He emphasized the program’s objective of connecting interest in Greece with practical information about the market, investment opportunities, banking, and financing from overseas.
Konstantinos Papadopoulos, Individual Banking Director at Alpha Bank S.A., presented new and streamlined banking options available to Greek Americans and U.S. residents. His presentation addressed how individuals living abroad may open a Greek bank account remotely and explored financing solutions available for the purchase of property in Greece. The discussion highlighted how processes that traditionally required travel to Greece and extensive in-person paperwork are increasingly being handled remotely.
The program then turned to one of the evening’s most anticipated subjects, inheritance law in Greece.
Sophia Mystakidis, Managing Attorney, Greek Legal Affairs at PN Lawyers, traveled from Greece to participate in the program and presented the new inheritance legislation that took effect in September. Her presentation examined how the new law interacts with the existing legal framework and outlined important changes affecting individuals and families with inherited property and other assets in Greece.
The final segment addressed the often -complex intersection of Greek and U.S. taxation. Dr. Chris Holidis, President of C & J Global Consultants LLC, former IRS Examiner and U.S. Tax Preparer, joined from Greece to discuss tax responsibilities and reporting considerations associated with property purchased or inherited in Greece. The presentation addressed inheritance, gifts, rental income, and U.S. reporting requirements, providing attendees with practical information about obligations that may arise in both jurisdictions.
Throughout the evening, speakers responded to questions from the audience, making the program not simply a series of presentations but an interactive educational forum addressing real situations faced by Greek Americans and their families.
The Hellenic-American Chamber of Commerce expressed its appreciation to Alpha Bank and Pardalis & Nohavicka Attorneys for their sponsorship and support of the program, to the Consulate General of Greece in New York for placing the event under its auspices, and to the Hellenic Lawyers Association for its collaboration.
Special appreciation was also extended to the speakers who participated from Greece at a very late hour in order to share their expertise with the New York audience, as well as to Sophia Mystakidis for traveling from Greece specifically to participate in the program.
The event reflected the Hellenic-American Chamber of Commerce’s continuing mission to strengthen economic and cultural ties between Greece and the United States while providing its members and the broader community with access to experts and practical information on issues including real estate, taxation, financial services, investment opportunities, and developments in Greek law.
