10 Reasons to invest in Greece

Greece offers investors a favorable investment environment through a combination of:

1. Economic and political stability within Euro zone
2. Growth above EU average
3. Accessibility to the sizeable emerging markets of the Balkan, Black Sea, Eastern European and Eastern Mediterranean regions through an existing network of 3.264 Greek companies
4. Generous investment incentives
5. Productive and highly educated human resources
6. Competitive industry sectors, optimal supply and great variety of raw materials
7. A brand new physical infrastructure network
8. One of the top tourist destinations in the world that attracts more than 14 million visitors annually
9. Unique combination of unparalleled beauty, temperate climate and over 3.000 years of history
10. A unique culture and a good environment to live and work

ESTABLISHMENT IN GREECE OF FOREIGN COMMERCIAL AND INDUSTRIAL COMPANIES

-          Foreign companies may be established in Greece pursuant to the provisions of this law in order to provide exclusively consulting services, centralization of accounting services, quality control of production, products, procedures and services, preparation of studies, designs and contracts, advertising and marketing services, data processing, receipt and supply of information and research and development services, to their associated enterprises that are not established in Greece, and / or to their head office.

-          The enterprises established are obliged a) to employ at least 4 employees at the end of the twelve – month period following the date the decision mentioned in the next paragraph is issued and b) that their annual operating expenses incurred in Greece will not be less than € 100.000 (one hundred thousand Euros).

-          A special license is required for the application of this law, which is granted by a decision of the Minister of Economy and Finance, published in the Government Gazette. The license is issued within fifty (50) days the latest from the filing of a relevant application to the Directorate of Foreign investments in the Ministry of Economy and Finance.

-          The gross income of the companies deriving from the services they provide and which is compulsory collected through bank remittances, is reached with the application of a profit percentage on their total expenses and depreciations, excluding corporate income tax (cost plus method).  The said profit percentage is reviewed every five years or even earlier if the market conditions alter significantly.

-          For the determination of the profit percentages, which cannot be less than 5% are taken into consideration, mainly, the nature of the services provided, the field of activities and the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations.

-          For the determination of the mark up, all expenses on which the profit percentage applies shall be tax deductible for corporate income tax purposes, on the condition that they are supported by fiscal documents in compliance with the provisions of the Code of Books and Records.