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Commercial Law

Iason Skouzos - TaxLaw > Practice Areas  > Commercial Law

The main rights of the shareholder of a Greek S.A. company

Many of the shareholders' rights are usually mentioned in the articles of association of an S.A., provided of course that these are not the standard articles of association, which only contain the minimum content required by law. The articles of association, which is an agreement between shareholders, often also serves as a user manual for the meetings and decisions of the general meeting and the board of directors of an SA. After the repeal of Law 2190/1920 and the entry into force from 01.01.2029 of the most recent law on S.A., Law 4548/2018, many S.A. have not yet harmonized their statutes...

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Greek S.A. company – transactions with related parties  

Article 99 of Law 4548/2018 (valid from 01.01.2019), which incorporated Directives 2007/36/EC and 2017/828/EU, provides that the conclusion of any contracts of an S.A. company with specific persons which are referred to as related parties, as well as the provision of securities and guarantees to third parties in favor of these persons, without special approval provided by a decision of the board of directors or by exception of the general meeting of shareholders, is prohibited and invalid. The persons (individuals or corporations) that are considered connected to the S.A are: a) for listed S.A. companies, the persons defined as connected to...

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Joint venture (“koinopraxia”) according to Greek law

According to Greek law, a joint venture is a joint partnership of several natural or legal persons who aim to achieve a certain common purpose (usually of a profitable nature). The persons participating in the joint venture (whether natural or legal) each retain their autonomy and legal personality. Furthermore, in the pursuit of the common purpose, the members of the joint venture, through the coordination of their actions, aim at achieving a better economic result. In many cases, the creation of a joint venture is dictated by the size of the project, particularly when it is too large and too...

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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...

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Procedure – supporting documents required for transferring a Greek trademark

To transfer a Greek trademark, the following supporting documents should be submitted to the Department for Trademarks of the Ministry of Economy, Infrastructure, Maritime Affairs and Tourism: (1) Private (or notarial) agreement signed by the contracting parties. Where the contracting parties are legal persons, the agreement should be signed by their legal representatives or other persons duly authorised to this effect. The signatures in a private agreement should be authenticated by a Citizens’ Service Centre (KEP) or a public authority. (2) Where the contracting parties are legal persons, the following should also be submitted:(a) for sociétés anonyme and limited liability companies, the...

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Credit companies / loan companies- the legislative framework which governs them

According to Article 4 of Law 3601/2007 [1] ("Taking up and pursuit of the business of credit institutions, capital adequacy of credit institutions and investment firms and other provisions"), undertakings that are NOT credit institutions (Banks) are prohibited from professionally carrying on the business of taking deposits or other repayable funds from the public. According to the same article, subject to the specific provisions of the legislation, the professional granting of loans or other credit is also prohibited, unless special authorization has been granted for this purpose by the Bank of Greece. The terms for the issuing of an authorization...

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