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Company Law

Provisions regarding personnel of security service providers

Law provisions, regarding the personnel engaged in legal entities providing security services, based on L. 2518/1997, as this law has been amended and is currently in force, provide the below: Article 3 of Greek Law 2518/1997, as amended and completed by Greek Law 3707/2008, provides a clear guide of the conditions to be met, and more specifically: 1. Security personnel shall be required to hold a category A or category B work permit depending on the activities they are to perform. 2. The personnel of private security service providers for the activities referred to in cases a', b', c', d', e', f', g'...

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Legal framework for the licensing and operation of security service providers

The main legal framework regulating the terms and conditions for the operation of private security service provision businesses in Greece is Law 2518/1997, as amended and completed by L. 3707/2008. More specifically, according to article 1 of the law, a private business for the provision of security services is the private business, either run by an individual or by a company, that provide to third parties one or more of the following services: a) surveillance or guard of mobile or immobile assets and facilities, b) protection of individuals, c) secure transfer by special configured armored vehicles of money, antiquities, works of art and valuable...

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Offices of Law 89/1967

This is a brief presentation of the legal framework of the operation of Law 89/1967, according to which foreign and Greek companies may be established in Greece, through an office or branch, for the sole purpose of providing to their head offices or to affiliated companies not established in Greece specific services set forth by law providing them with a favourable tax regime and further aid, as we will mention below. Legislative framework of Law 89/1967 More specifically, the offices or branches of Law 89/1967 may provide to their head offices advisory services, central accounting support, quality control of production, products, processes...

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Private Company (I.K.E.) – main characteristics

The Private Company (P.C or I.K.E.)  also know as Private Capital Company, is a relatively new form of commercial company introduced in the Greek legal framework by virtue of Law 4072/2012. We have collected its main characteristics in the following bullet point list: Separate legal personality: The Private Company enjoys a separate legal and commercial entity from its members (as they are not considered merchants per se), and can act separately from its members (e.g. can own property and incur debts) Establishment: The minimum requirement for the establishment of a Private Company is a private agreement providing the Articles of Association...

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Practical guide on minority rights of shareholders in S.A. companies

Practical guide on minority rights of shareholders in S.A. companies (Articles are to Law 4548/2018) (i) What rights does ownership of a 1 share give the holder under Greek laws 1) The right to vote in the General Assembly (art. 36). 2) The right to participate to the General Assembly by proxy (art. 128 par. 1). 3) In case of share capital raise, the pre-emptive right to subscribe for the new shares pro rata to his/her shareholding (art. 26). 4) The right to receive information from BoD for the company affairs in case this information is useful for the real assessment of the GA agenda...

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Establishment of a foreign shipping company’s office in Greece (L. 27/1975)

According to Article 25 of Law 27/1975, “By decision of the Ministers of Finance, Development, Competitiveness, Infrastructure, Transport and Networks and Shipping and the Aegean, specific issues are regulated, related to the required supporting documents and the procedure for the establishment of offices in Greece or branches of foreign shipping companies, as well as any other necessary details”. According to no. 3122.18/03/13 – Government Gazette B 3263 / 20.12.2013 – Regulation of details concerning the required supporting documents and the procedure for the establishment in Greece of offices or branches of foreign shipping companies and subordination of domestic shipping companies to...

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

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...

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General formalities of an IKE company to GEMI (Company registrar)

Within one month from its registration, the company must obtain a company website indicating (in both Greek and English): a) full name and address of the shareholder/s b) contribution category of the shareholder/s (capital contributions, non-capital contributions and guarantee contributions) c) Managers (directors) of IKE (with full data) d) name of IKE e) share capital f) total amount of any guarantee contributions h) registered seat and full address of IKE i) GEMI number j) whether the company is in liquidation...

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