Greece: Regional 2024 Doing Business In Update

Published on May 13, 2024

2024 Greece Regional Update

Firm Name:Bahas, Gramatidis & Partners LLP
Author: Betty Smyrniou

1. How is the political environment impacting business in or with your country?

The stability of the political environment has impacted business in Greece in the last few years. An extensive reform has been implemented, and the basic factors of political stability have been innovation, employment, and taxation. Major measures are being taken, including new bills to restrict tax evasion, increase the efficiency of the public investment program, and introduce incentives for mergers and innovation.

Greece has already adopted objectives and strategic documents that target innovation, the green transition and sustainable development, and digitalization.

Major reforms through regulatory instruments outline significant opportunities for business in Greece.

2. Which countries have you previously collaborated with and do you see potential for future collaboration with on cross-border matters within the region?

We have collaborated on all aspects of cross border matters [employment, social security, corporate,mergers, takeovers, public procurement, personal data, commercial, insurance matters, contracts, tourism, environment, etc.] with many countries, including Ireland, USA, UK, China, Italy, Germany, France, Spain, Poland, Norway etc. With all these countries, there is potential for future collaboration

3. What legislation has recently changed or is changing that a potential international client should be aware of?

Significant laws that have passed include and refer to:

  • Changes in employment [working conditions, rights, digital processes, and digital card],
  • Immigration law,
  • Insurance funds and pension plans, Digital Services and Digitalization,
  • Combating high prices in consumer products,
  • Short-term rentals, ie platforms,
  • Greek Golden Visa, and
  • Global minimum level of taxation for multinational groups and large-scale domestic groups in the EU.