Minoan Share Discussion Threads

[wi1l] 23/11/2020 18:06

‘Non dom’ scheme picking up



In mid-October an official from a major consultancy firm appeared at a tax office holding a sizable dossier. It contained the details of 200 foreign taxpayers with large properties seeking to become Greek taxpayers and take advantage of the special “non dom” status. Most of them were people of Greek origin who had been living abroad for years, or second-generation Greeks.

Multinational businesses and auditing firms that are active in Greece have been surprised by the interest being expressed and are focusing a large part of their activities on non dom. In fact, one major auditing company has already carried out procedures for 15 foreigners who are now tax residents in Greece.

One of its clients, an Indian citizen, is in the billionaire category as his fortune tops €4-5 billion. He obtained a Greek tax registration number (AFM) a few days ago and by end-December must pay the state tax worth €100,000, as foreseen by the law. The Indian billionaire has reportedly spent long periods of time in Greece recently, impressed by the country’s natural attractions and climate.

CS Project mere petty cash to this gentleman!

[daicaprice] 23/11/2020 09:54

Yes they will take 500k @1.0555p, maybe something positive filtering through.

DC

[waterloo01] 23/11/2020 09:37

Well can sell 500k shares but can't get an online quote for even 50k

[wi1l] 19/11/2020 07:58

Online event on Greece as an investment destination

[waterloo01] 16/11/2020 13:54

Vaccine news should be very good for MIN. It means partners can finally look over the covid horizon with some confidence that things will get back to a new normal in tourism.

[wi1l] 15/11/2020 20:36

Interesting?

EU subsidy for private investments



The Greek government has earmarked almost the entire sum of loans from the Next Generation EU fund – i.e. about 12.5 billion euros – for corporations in the private sector. This forms part of plans for the fund’s 32 billion euros for Greece, per the proposal that Athens will submit to the European Commission this week.

[atlantic57] 15/11/2020 09:46

You make valid points Will.

To Date Gilbert’s impact on Min appears to be Mr invisible.

I suspect the lack of progress will mean that he either walks away or insists on deals being concluded .

We may have to wait until July to answer that question.

[wi1l] 15/11/2020 08:33

Warmer still?

Martin Gilbert joins board of Saranac Partners
Appointed non-exec director



Martin Gilbert, the co-founder of Aberdeen Asset Management and former CEO of Standard Life Aberdeen (SLA), has joined the board of wealth management firm Saranac Partners as a non-executive director.

Saranac, which launched in 2015, described Gilbert as a longstanding supporter of the business. Its managing partner Tanvi Davda said the appointment will be "invaluable" to the growth of the firm.

[daicaprice] 13/11/2020 10:04

Well there’s 520k of them snapped up so they weren’t daft.

DC

[daicaprice] 13/11/2020 08:45

They seem to have taken a hell of a lot of stock on board @1.11p without dropping it over the last week or so, hope that’s a good sign.

DC

[wi1l] 13/11/2020 07:38

WHI on early again today, not that it means much but my antenna perks up when they do!

[daicaprice] 12/11/2020 07:44

CIG group Hellas do sound very positive, from the upgrade to the Minoa Palace it sounds like a tasteful natural commodities theme that would suit a world heritage site.

DC

[wi1l] 12/11/2020 07:14

All very frustrating especially to LT holders atlantic.

And the sale of Stewart Travel took ages AND at the time didn't go down well, however (with the benefit of hindesight)consider the position the Group would now be in if they hadn't offloaded it when they did.

Imv we wouldn't be here today more or less free from debt still holding a valuable asset with everything to play for.

[atlantic57] 11/11/2020 17:58

Will you always make a compelling case for investment in Greece and I absolutely agree with you.

The Problem remains that the Bod consistently fail to provide any meaningful updates
That they are making any meaningful progress .

The other depressing thing is the amount of time they always need to complete anything.
if they ever get an offer how long will it take to complete.

Look at the sale of travel.

As I’ve said many times before this project should be flying but the bod appear incapable of moving it forwards.

[wi1l] 11/11/2020 17:23

Getting warm:

Cretan Investments Group Hellas Adds First Hotel to Tourism Portfolio

Cretan Investments Group (CIG) Hellas has added the first hotel to its tourism portfolio by acquiring the Iti AKS Minoa Palace hotel a member of the AKS Hotels Group on the island of Crete.



According to CIG Hellas President and CEO Marita Karatzi, this investment marks the first of a series of strategic moves in the field of tourism.

“We have been thinking of proceeding with attractive investments in select Greek destinations for quite some time… We will gradually begin our investment plan either through acquisitions or new tourism developments,” she said.


Aha "new tourism developments " I wonder.........

[atlantic57] 11/11/2020 10:36

Well we should hear something tangible by July 21 when it will be decision time for Gilbert.

Given this saga has been running for over 20 years and 3 years with all objections dismissed I guess 8 more months is a relatively short time period.

[wi1l] 11/11/2020 07:28

Prosperty targets transparency boost in Greek real estate



According to Markopoulos, another investment opportunity is tourist properties. "Tourist real estate is perhaps the biggest investment opportunity of the next period, as it will be temporarily under pressure, but the future in the post-covid era is considered favourable. Many Northern Europeans are considering the possibility of buying a holiday home in Greece, a fact which has been boosted by the effective management of the pandemic so far, when compared to competitive markets, such as Italy and Spain," he added.

[wi1l] 10/11/2020 07:36

House broker first to feature today (normally leave it alot later),might be wrong but it generally means something eg an order to be filled today possibly??

[waterloo01] 09/11/2020 13:57

Hopes of a vaccine should relieve travel stocks et al. Hopefully it will give some more confidence about a transaction here.

[atlantic57] 07/11/2020 08:06

Greece is a very good place to do business right now.

Time will tell why Martin Gilbert is involved but he appears to have secured a very good deal for himself as zechary did and indeed anyone who has done business with this bod.


Gilbert has generated an income of 10% on his capital with the option but no commitment
To do anything else .

Hopeless would be a generous description of the record here.
Decimated share value
Selling assets for poor prices

Giving huge chunks of the asset away to third parties.

[wi1l] 07/11/2020 07:39

However, Greece gets yet another boost:

Moody's surprisingly upgrades Greek credit rating



Moody's rating agency gave Greece's market profile an unexpected boost on Friday by raising the country's credit rating amid the pandemic, citing the prospect of a robust recovery next year.

[wi1l] 07/11/2020 07:25

Would have thought that Martin Gilbert would have been more of a presence (if thats the right word)by now and I have therefore yet to understand his involvement here when he only appears involved at a very high level elsewhere.

[atlantic57] 06/11/2020 17:05

Dc your posts make good sense.

Unless the board are able to announce something tangible we have the usual meaningless waffle.

As for the begging bowl If this drags onto the first quarter of 2021 that must be a certainty.

What happened to the advanced talks that were held in dec 2019 ?

The red hot favourite will be an offer from Dagg to pick the whole project for say 2p.

The bod seem incapable of finding anyone who will make an offer for any part of the site.

[daicaprice] 06/11/2020 16:24

I think we will see something with a little more substance before Xmas, just a little boost to morale.
Just pray it isn’t followed by a begging bowl.
Have a good weekend all, looking forward to a few pints in the pub come Monday.

DC

[hugothesecond] 06/11/2020 11:44

That will then take to the half year results where they will ‘talk up’ the discussions ready to do the first deal in the 2H.