24 Feb 2022

Sticky

Rules governing the appointment of an executor of a will under Greek inheritance law

Article 2017 of the Hellenic Civil Code states that an executor for the will is only to be appointed by the testator and only if there is a will. Appointment is made exclusively by the testator of the estate and cannot be dependent on the opinion of a third party (such as an heir). The appointment of the executor of the will cannot be done by means of an inter vivos deed entered into by the testator but only by the will and consequently in that regard it follows the terms and conditions under which a will is valid. Article 2018...

24 Feb 2022

0 Comments

Sticky

Conditions for the validity under Greek inheritance law of a will made abroad

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Special topics

In the case of a will which was prepared in a country other than Greece, what needs to be clarified is the applicable law under which the validity of the will is ascertained. According to Article 11 of the Hellenic Civil Code, a legal transaction is formally valid in procedural terms if it is in accordance with either the law governing its content or the law of the place where it is entered into or the national law of all the parties. An example of such a transaction is a will. Under the provisions of Article 28 of the Hellenic Civil...

24 Feb 2022

0 Comments

Sticky

Rules governing the publication of wills under Greek inheritance law

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Special topics

From the moment the testator passes away, there is a need to obtain probate for any will he may have left behind. This is a public policy requirement and the reasons which require probate for the testator’s last will relate to the security of transactions and the fate of individual assets. Grant of probate for the will is in the public interest and for that reason any provision of the will which precludes the granting of probate is null and void. Articles 1769, 1774 and 1775 of the Hellenic Civil Code establish a public law obligation for the holder of a...

24 Feb 2022

0 Comments

Sticky

Will formalities and enforceability of foreign wills under Greek inheritance law

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Special topics

The Hellenic Civil Code recognizes both ordinary types of wills and extraordinary types of wills relating to special cases. The most common types of wills are holograph wills (Article 1721 of the Hellenic Civil Code), public wills (Article 1724 of the Hellenic Civil Code) and mystic wills (Article 1738 of the Hellenic Civil Code). The holograph will (Article 1721 of the Hellenic Civil Code) is the simplest way of expressing the last statement of the testator’s intentions since it is prepared by the testator himself without the presence of witnesses. In order to be valid, it must (a) be written (and...

11 Feb 2022

0 Comments

Sticky

Special VAT exemption regime for small businesses

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Tax Law, Special topics

The Greek VAT legislation provides for a special VAT exemption regime for small businesses, which is regulated in article 39 of L. 2859/2000-Greek VAT Code, which has been amended since 1/1/2019 in order to improve and simplify the regime as well as fully harmonize it with the EU VAT law. Moreover, Circular E. 2012/2019 was issued communicating the new provisions and giving various clarifications on the regime in the context of the amended article 39. Herein below we provide the main points of the special VAT exemption regime for small businesses: The regime is optional; the new (amended) provisions aim at...

11 Feb 2022

0 Comments

Sticky

VAT treatment of educational services

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Tax Law, Special topics

For the assessment of the VAT treatment of educational services (such as teaching and training services), the first step is to determine the place of supply of those services for VAT purposes, based on their nature/classification, the VAT status/capacity of the recipient of the services as well as the way the services are provided (e.g. online). Following the determination of the place of supply, and should this be Greece, the next step would be to examine whether the services could benefit from the VAT exemption applicable to educational services. Should this be the case, even if the place of supply...

02 Feb 2022

0 Comments

Sticky

Procedure and documentation required for the commencement of a sole-trader business/freelancer activity

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Labor & Employment, Special topics

The procedure for the commencement of a sole-trader business or a freelancer activity entails the following steps, at the different competent authorities, accompanied by the required documentation: Pre-registration with the Single Social Security Entity (the Social Security Institution called “EFKA”); Pre-registration with the competent Chamber Registration with the competent Tax Office Completion of the Registration with the Social Security Institution Completion of the Registration with the Chamber An outline is given below of the documents required for each step: Pre-Registration with the Social Security Institution (“EFKA”) The pre-registration is made with the competent Social Security Office for Νon-Εmployees (i.e. sole-trader businesses/freelancers) located...

28 Jan 2022

0 Comments

Sticky

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

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Company Law, Special topics

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...

25 Jan 2022

0 Comments

Sticky

Conditions and procedure for the issuance of “digital nomads visa”

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Immigration Law, Special topics

[manual for implementation of immigration and social integration codes and related legislation - special cases of schengen visa– case B16 – “Digital nomads visa” - November 2021] According to what is provided in case ie’ of paragraph 1 of article 18 of Law 4251/2014, as amended and currently in force a national visa may be granted to third country nationals, who are self-employed, freelancers or employees, and work remotely using Information and Communication Technologies (ICT) whose employers or clients are located outside Greece (digital nomads). The visa is be granted following the appearance in person and an interview. This national visa...

24 Nov 2021

0 Comments

Sticky

Professional leisure yachts – VAT exemption for purchase/import

Posted by ΧΡΙΣΤΙΝΑ ΣΑΚΕΛΛΙΑ

in Tax Law, Special topics

The Greek VAT legislation provides for a VAT exemption for the purchase/import of professional leisure yachts in Greece, provided of course that the specific conditions set out by the relevant VAT legislation (as well as by the applicable regulatory framework) are met. VAT legislation In specific, according to article 27 par. 1 case (a) subcase (aa) of the Greek VAT Code (L. 2859/2000), a VAT exemption is provided for the supply (purchase) and import of vessels that are intended to be used for navigation on the high seas and which carry passengers for reward or which are used for the purpose of...

Special topics

Contact details