Greece - Establishing an Office Greece - Establishing an Office
All traditional types of business organizations exist in Greece, including: Corporation, Limited Liability Company, General or Common Partnership, Limited Partnership, Sole Proprietorship or Individual Enterprise, Cooperative, and Joint Venture or Consortium.
Under Greek law, joint ventures and consortia are not recognized as different forms of legal entities. The law governing joint ventures has been developed through court decisions and directives issued by the Ministry of Finance. In general, each participant in a joint venture is liable for his share of the total debt, including taxes. Current tax law recognizes the existence and special nature of joint ventures and provides specific rules as to the maintenance of the joint venture’s accounting records.
Foreign enterprises may establish operations in Greece. In the case of industrial projects, the foreign investor is generally required to organize a Greek corporation. The following laws are intended to support foreign investment, foster development and reduce obstacles created by bureaucracy.
- Law 4146/2013 "Creation of a Business-Friendly Environment for Strategic and Private Investments" is Greece's main investment incentives law.
- Law 3908/2011, which provides incentives in the form of tax relief, grants and allowances on investments in all key economic sectors.
- Law 3894/2010, which provides for fast track licensing procedures for qualifying investments in the sectors of industry, energy, tourism, technology, telecommunications, health services, waste management and transportation.
- Law 3389/2005, which regulates public private partnerships (PPP).