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Foreign Investments In Greece - Benefits And Advantages

Greece is a country that has always attracted investors’ and businessmen’s interest worldwide, who strategically and through capital contribution to the Greek economy have established either new companies or branches of foreign companies mainly in the tourism industry or the trade and services sector. Thus, according to official sources there is a huge increase of foreign investments in Greece in the latest years, with an estimated invested amount of money of billions of euros annually. The places of origin of the investments are various European countries, led by companies from Germany, France, the United Kingdom, but also the United States, Canada and other economically powerful countries. These numbers are undeniable proof of investors’ trust in the stability of the Greek economy, the development and the soundness of the Greek banking system. Moreover, the numbers imply the experienced businessmen’s steady belief that the country offers significant opportunities for the development of profitable business in the traditional sectors of tourism, trade and services.

On the same wavelength, and after the intentions of the domestic and foreign companies have been taken into consideration, the Greek State has enacted the latest years laws that facilitate the procedure, reduce paperwork and provide financial incentives to potential investors. This favorable legal environment along with the traditional dynamics of the country, due to its strategic geographical location and the continuous inflows of tourists make Greece an ideal field for foreign investments.

The foreign investors can take advantage of the latest legal regulations in many ways, developing business activity through the establishment of either new types of companies or branches and subsidiaries of foreign companies.

A new type of company that grows rapidly in the Greek territory is the Private Capital Company (PCC). The PCC is the suitable type of company for the businessmen that wish to establish their companies without any delay or suffering and also to pay up the minimum necessary capital and separate their personal property from the company’s. This company type has the following features:

  1. It can be established by more natural and legal persons, that will be partners, but it can also be established by only one natural person, that will be the sole partner and administrator of the company and will take initiatives and make all the decisions. In this case, the company is called “Sole Member Private Company” and is provided with the same privileges as the ones with more partners.
  2. The capital that must be paid for its establishment can be of only one (1) euro, which is an ideal solution for the businessmen who do not wish to invest a large amount of money.
  3.  The company is liable to its creditors only to the limit of its own property and as a result the partners’ personal property is fully protected. The partners are therefore protected from a possible enforcement procedure and a confiscation of personal property elements for company debts.

Another common type of company, which is considered to be suitable especially to investments in the maritime tourism sector is the Shipping Company. This company’s sole purpose is the management of professional pleasure-type vessels. It is evident that in a country like Greece, which has a coastline of thousands of kilometers, dozens of islands and of course mild and suitable climate, there will be a strong demand in the sector of renting pleasure-type vessels by the domestic population and the thousands of tourists who visit her annually and wish to wander through its sea beauties. As a result the management of pleasure-type vessels is a type of business that will provide certain and steady profit to the investors. Besides, the above company type offers the following:

  1. The company can be established by at least two natural or legal persons, that will be its partners.
  2. A large capital is not needed in this case either, since an amount of 10.000 euros is enough.
  3. Exemption from the tax burdens on the profits and the capitalization of them, the withdrawal of funds, the partners’ loans to the company, the liquidation mass, as well exemption from the stamp duty.

In case the foreign investor does not wish to establish a company or a branch but wishes to invest in real estate property, in order that he can move to Greece, obtain a house and enjoy the benefits and the special beauties of this country, the law offers him again incentives to do so.

In particular, in case a foreign citizen buys real estate of total value of 250.000 euros, a residence permit of the “Investor” category is issued for him/her, as well as for the members of his/her family (spouse, children that are under 21 years old and both the spouses’ parents). The above residence permit is valid for 5 years and after that period, it can be renewed. If the total value of the real estate property is lower than the above mentioned and in case you have issued a national Visa of the type D from the competent consulate authority in your country, a residence permit of the “financially independent persons” residence permit is issued, which is valid for 2 years and is renewable.

Moreover, the residence permit that is valid for 5 years, allows the citizens of the third country to enjoy the next privileges:

  • They can enter without a visa and move freely in not only Greece but also other countries of the Schengen agreement.
  • They can rent the real estate property and gain an additional income.

Mrs Kasatkina-Kouskou Svetlana’s Law office offers consulting services and implements from beginning to end the procedure of the investment you wish to make.

Specifically, regarding the establishment of companies, following discussion and evaluation of your plans and wishes, we help you choose the right type of company, that will allow you develop your business with great success and profit.

Following your decision, we take on the establishment of the company from beginning to end and more specifically:

- drawing-up of the company statute

- definition of the legal address

- representation at the competent state bodies

- implementation of the procedure at the competent public services

Finally, we guarantee the post-establishment consulting and the solution of any issues.

By choosing our legal services, we assure you that we will establish your company quickly and accurately and that we will take care of its smooth and profitable functioning.

In case you wish to purchase real estate property, which comes with a residence permit for third-countries citizens, our Law Office will handle the purchase and the issuance of the residence permit from beginning to end. Specifically, collaborating with our experienced real estate agents, we will suggest  a great range of real estate elements, so you can choose the one that best fits your wishes and needs. Moreover, we will deal with the check of the title numbers of the real estate as well as the whole transfer procedure, by representing you in front of the competent state bodies and providing you with soundness about your money investment.

Following this, we issue quickly and directly, without any delays and wrong movements your residence permit either of long or two year duration.

Our twenty years’ experience in legal assistance of third-countries’  citizens and our day-to-day monitoring of the current legislation on the matter and the present situation on the market, guarantees your proper information and consulting and a safe and profitable investment of your money in Greek economy.

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