20 Jan 2020

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Establishment of a branch of a foreign ΝGO in Greece

A. A foreign Non-governmental organization (hereinafter “NGO”) can establish a branch in Greece, even if its legal form is not applicable in Greece. The supporting documentation required for the approval of the establishment in Greece of a branch of a foreign company by the competent General Commercial Register is the following: 1. Application signed before the Department of the General Commercial Register upon submission of the supporting documents. 2. Company decision related to the establishment of a branch in Greece, specifying the purpose, the location, the name and the legal representative of the branch; 3. Copy of the Articles of Association of the foreign...

02 Jan 2020

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Establishment of a branch of a foreign company in Greece – Supporting documentation before the Commercial Registry

Posted by Έλενα Μπατάλα

in Practice Areas, Company Law

The supporting documentation required for the approval of the establishment in Greece of a branch of a foreign company by the competent General Commercial Register is the following: 1. Company decision related to the establishment of a branch in Greece, specifying the purpose, the location, the name and the legal representative of the branch. 2. Copy of the Articles of Association of the foreign company, as in force at the time of the application (certified by the competent foreign Authority). 3. Certificate issued by the competent foreign authority confirming that the company has not been dissolved nor its establishment has been revoked. 4. Certificate...

21 Nov 2019

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Upcoming tax developments in Greece

Posted by Έλενα Μπατάλα

in Practice Areas, Tax Law

VAT Suspension of the imposition of VAT on construction activity for the following three (3) years. Reduction of VAT rates from 13% to 11% and from 24% to 22% within the following four (4) years, especially for baby essentials. Gradual imposing of e-business invoicing (B2B) and e- accounting books. Real estate tax Reduction of the Unified Real Estate Property Tax (hereafter EN.F.I.A.) rates within the next two (2) years. Suspension of the imposition of goodwill tax on the transfer of property for the next three (3) years. Tax deductions for the expenses related to energy functional and upgrading of...

21 Nov 2019

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Recent developments in Greek taxation and corporate compliance issues

Posted by Έλενα Μπατάλα

in Practice Areas, Tax Law

1. Greece has adopted the EU anti- tax avoidance Directive (ATAD) through a new law, which is in force from 1.1.2019 onwards. The rules transposed in domestic law amended the following provisions: 1.a. The Greek thin capitalization rules (article 49 Greek Income tax code) were reformulated in order to fully comply with the Directive. However, no significant changes were made in relation to the previous provisions system, which complied with the Directive to a great extent. Specifically, excess borrowing costs are deducted in the tax year in which they are occurred only up to 30% of the company’s earnings before taxes,...

17 Oct 2019

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Acquisition & Revocation of Greek citizenship – Q&As

Posted by Έλενα Μπατάλα

in Practice Areas, Civil Law

- Is it enough for someone to prove 24,000 euros per year alone? Or should have a formal job? Someone must prove at least 24,000 income for one person per year (e.g. bank accounts, etc). This income should not come from a job (this type of residence permit is for people who are financially independent persons = they have income without working). - Is it possible for someone to study in the EU with this residency? It is possible to study in Greece? If the sponsor (the person who has the income and gets the FIP residence permit), also has a child less...

04 Oct 2019

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New Greek Law on the protection of natural persons with regard to the processing of personal data and on the free movement of such data and transposition into Greek legislation of Directive (EU) 2016/680

Posted by Έλενα Μπατάλα

in Practice Areas, Personal Data Protection

Under a fast track procedure, the Law on the protection of personal data was adopted as it was finally drafted after the public consultation. The new Greek law on the protection of personal data, which came into force on 29.08.2019, i.e. Law 4624/2019, is based on the provisions of Regulation (EU) 2016/679 (“GDPR”) and incorporates the provisions of Directive (EU) 2016/680 into the Greek legislation. GDPR allows Member States to derogate from its provisions and to adopt restrictions on the processing of personal data and the exercise of the rights of the data subjects. Significant derogations from the provisions of the GDPR are...

05 Jul 2019

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Requirements – Procedure – Timeframe for the Acquisition of shares of a Greek Private Company by a non-Greek Company

Posted by Έλενα Μπατάλα

in Tax Law, Special topics

Requirements – Procedure – Timeframe for the Acquisition of shares of a Greek Private Company by a non-Greek Company...

02 Jul 2019

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The applicable law to cross-border successions under Regulation (EU) 650/2012

Posted by Έλενα Μπατάλα

in Civil Law, Special topics

Regulation (EU) 650/2012 of the European Parliament and of the Council of 4 July 2012 on jurisdiction, applicable law, recognition and enforcement of decisions and acceptance and enforcement of authentic instruments in matters of succession and on the creation of a European Certificate of Succession, was entered into force on the 17th of August 2015....

05 May 2019

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The procedure of correction of the Initial registrations before the Cadastre Office

Posted by Niki Plyta

in Real Estate, Special topics

The properties are registered at the Cadastral Office and receive a special code number (called “KAEK”). Any correction of the initial registrations of the property can be performed easily following the administrative procedure of “obvious error”. the correction of the initial registrations has an expiration date....

02 May 2019

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Exemption from real estate transfer tax

Posted by Niki Plyta

in Tax Law, Special topics

The real estate transfer tax rate applicable is 3% on the taxable value of the property. Real estate transfer tax exemption is provided only on the purchase of a “primary main residence”. Conditions required for the property transfer tax exemption....

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