After the recent developments in the euro zone, all investing insecurity relating to the probable exit of the country of euro zone has been minimized. On the other hand, recent changes which took place in the fiscal environment in Greece, have made the present time probably the best time ever to start new business in the country. In particular, the new steady and straight forward taxation system, the competitive labor cost (probably the lowest in euro zone), the motivations for new foreign investors, the simplification of the procedures of residence permits for the non EU businessmen and the non EU companies employees and the governmental strategy in attracting new investors, create a unique, very attractive investing environment at the present time. Administrative structures have become more flexible and transparent and fair competition is fostered. At the same time, Greek authorities are promoting the privatization program. There is a great interest on behalf of entrepreneurs regarding investments in the, infrastructures, and property in Greece. Other appealing sectors are: Tourism, Energy, Logistics, Information Technology & Telecommunications sector. Greece is offering many incentives for investments in the “green energy” sector, services, and production, such as solar, wind and hydroelectric parks.
Our business consulting section of is the most important advisor that an investor from Russia or other countries may wish for. Our network of professional experts and all the people working with Lawyers Greece use their skills and their long working experience, in order to support your entrepreneurial step in Greece . We discover all the investment prospects, we evaluate your company’s targets and we prepare mature business plans providing assistance throughout the whole procedure. We support you company throughout all the necessary negotiations and help you with all the due-diligence transactions.
With more than 16,000 kilometers of coastline, more than 6,000 islands, and a well-established tourism industry, Greece presents a prime investment opportunity in the Tourism sector. The country is one of the top global tourist destinations for sun and beach holidays, and also provides attractive propositions for year-round themed holidays. The competitive advantages of Greece, such as rich cultural heritage, natural beauty and geographical variety, have been attracting significant tourism investments in recent years, thus further strengthening Greece’s image as an ideal destination both for holidays and tourism-related investments.
Even during the recent crisis, the tourist industry in Greece has been one of the main stays of economic growth and employment, with a continued growth in tourist arrivals and revenues driven mainly by the determined efforts of the Greek tourist authorities and associations to upgrade the tourist product offering.
The tourist industry is currently undergoing a major strategic improvement initiative, focusing on the expansion of the tourist period, the attraction of higher-value tourist segments (High-net-worth, affluent), the increase of average daily spending and the opening of new tourist markets.
Over the next years, Greece is poised to make significant investments in the tourist industry, focused on transforming the traditional “sun & beach” tourist product into a number of higher-value, more focused products, centered around:
• Integrated resorts – holiday housing new developments in existing and new tourism destinations taking advantage of the new legislation for the development of integrated resorts and for the acquisition of residence permits by non EU citizens who invest in Real estate
• Thematic sun & beach tourism, where specific “themes” such as wellness, romance or luxury are used to add value and to extend the typical sun & beach holidays
• Nautical tourism, both in terms of attracting a larger amount of cruise liners and in terms of extending the offering for yachting/ sailing holidays
• City Break tourism focused mainly around the two main cities of Athens and Thessaloniki
• Cultural and religious tourism, upgrading and leveraging the several historical, heritage and religious monuments and museums of Greece
• Medical tourism which presents an exciting growth opportunity if the skilled Greek medical personnel is combined with investments in existing facilities and infrastructure, and
• Meetings and Incentives (MICE) tourism positioning Greece as a major meeting and conference center for regional associations and companies
A very important tool for the growth of the tourism sector is the new investment law. The law intends to support investments that foster the improvement of ports, the promotion of different forms of tourism and the upgrading of winter vacation establishments.
The Public Private Partnership scheme is a key investment instrument that concerns infrastructure incentives mainly on marinas and thermal springs. On the other hand, the National Strategic Reference Framework (NSRF) aims to financially support infrastructure works that take place at different regions of the country. Today, there are many opportunities to invest in hotel units sector, while investors can obtain large estates of unique beauty in order to establish new marinas.
It consists of state and statutory laws pertaining to the regulation of banks and financial institutions. Bank accounts may be established by national and state chartered banks and savings associations.
There are two major kinds of liability in Greece: a) Contractual liability (obligatio ex contractu) and b) Tort liability (obligatio ex delicate). Compensation claim can be based in either one legal basis. Contractual liability requires the existence of a contract or an agreement and is based on the violation of this by one of the contracting parties. A tort on the other hand, has to be an illegal act, otherwise compensation cannot be claimed (article 914 of the Greek Civil Code). Also a tort has to include the element of liability, (except of certain cases of so called "objective" liability). Liability varies from negligence to intentional. So, any illegal act which holds the element of liability of any grade and has caused any kind of damage or nuisance can be the legal base for a compensational lawsuit.
Copyrights are called the exclusive rights of creators on their work. They are granted by law for some time in order to prohibit third parties from using the works without the permission of the author. The copyright exists in works of literature and art, such as books, theater, painting, sculpture, photography, architecture and other creations such as software or databases. It includes the right to exploit the work (economic right) and the right to protect the personal relationship with the creator of this work (moral right).
The copyright is acquired automatically without requiring the creator's request for submitting the project or for the project's registration in any service.
In Greece the fundamental Law is the Law 2121/1993 (O.G.G. A' 25, 04/03/93) which, inspired by the World Intellectual Property Organization, revises the previous legislation of 1920 and complies with European Community directives. This Law was amended drastically in many of the provisions in Article 8 of Law 2557/1997 (O.G.G. A' 271/1997) to implement the Directives 93/83/EEC and 93/98/EEC.
Lawyers in Greece
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