The Annunciation of the Virgin Mary retreat is located on the island of Innousses and was established in 1962 by the Panagou and Katigos Pateras Family.

The Monastery exemplifies Byzantine architecture and its interior maintains religious wall painting by the famous religious art painter, Fotis Kontoglou.

The Annunciation of the Virgin Mary maintains strict rules and regulations concerning its operation. There are 17 nuns, most of which are young in age and occupy their time with religious painting, knitting, sewing religious garments and gold embroidery.