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Procedure and supporting documentation for application to the Greek Non-Dom taxation regime (Article 5A of the Greek Income Tax Code)

Article 5A of Law 4172/2013, which applies from the 2020 tax year onwards, states that an individual who transfers their tax residence to Greece using this procedure can be subject to an alternative method of taxation for income generated abroad. An individual may join this scheme under the following conditions: if they were not tax resident in Greece in 7 of the 8 years prior to the transfer of their tax residence to Greece and they prove that they invest personally or a relative does so (meaning their spouse and relatives in the ascending or descending line) or they do so...

16 Nov 2021

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Sick Leave – basic provisions of Greek employment law

in Labor & Employment, Special topics

Regarding the basic provisions of Greek law concerning an employee's absence due to illness and the compensation of such absence, the following apply: An employee, in order to be eligible to compensation for sick leave must be employed for at least 10 days to the employer. Employees must notify their employers about their absence due to illness by any means and verify their condition by providing relevant medical documents. Employees can claim half salary in case they are employed for a period greater than 10 days and shorter than a year and one salary in case they are employed for...

16 Aug 2021

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Limitation of liability of law firm partners (amendment of Article 54 of the Code of Advocates)

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in Special topics

In a breakthrough development for Greek law practice, article 187 of new law 4820/2021 replaced Article 54(5) of the Lawyers’ Code (Law 4194/2013, Government Gazette, Series A, Issue 208), essentially converting all existing Greek law firms into Limited Liability Partnerships....

21 Jul 2021

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Law 4808/2021 ( labor arrangements)

in Practice Areas, Labor & Employment, Special topics

On 19/6/2021 the new labor law voted in Parliament (law 4808/2021) which contains important regulations regarding labor rights with provisions concerning both Individual and Collective Labor Law. Initially, it ratified the 190/2019 contract of the International Labor Organization and incorporated it in the Greek legal order with articles 1 to 23 of the law. It is about adopting measures against violence and harassment in the workplace by expanding the scope of prohibited behaviors by introducing psychological violence (mobbing) by expanding the circle of protected persons as well. Many of the regulation is an adaptation of Greek law incorporating Directive (EU) especially the...

24 Jun 2021

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Greek tax residence for individuals and legal entities

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According to the provisions of article 4 par. 3 of the Greek Income Tax Code-L. 4172/2103 (hereinafter referred to as “ITC”), “a legal person or a legal entity is a tax resident of Greece for any tax year, provided that: a) it was established or founded in accordance with Greek law, b) has its registered seat in Greece, or c) the place of exercise of the effective management is in Greece at any time during the tax year.”....

27 Apr 2021

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Tax incentives for “angel investors”

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In the context of recent initiatives to render Greece a more investment-friendly jurisdiction for businesses, and particularly for the startup and high-tech digital economy ecosystem, new article 70A of the Greek Income Tax Code (L. 4172/2013), which was enacted by virtue of article 49 of L. 4712/2020 (GG A’ 146), introduces the concept of “angel investors” in Greece and grants them with tax incentives in the form of an income tax deduction equal to an amount of 50% of the capital contributed to startups that are registered with the “Elevate Greece” Startup Platform of the General Secretariat for Research and...

23 Mar 2021

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Tax residence in Greece and special conditions due to COVID-19 pandemic

According to Greek tax law, an individual is considered as a Greek tax resident, as long as he/she has their permanent or main residence or usual residence or the center of their vital interests, namely their personal and financial ties, in Greece. Also considered as a tax resident of Greece is an individual who resides in Greece for a period exceeding 183 days, in total, during a tax year. However, the aforementioned presumption does not apply in case of an individual who stays in Greece exclusively for touristic, medical, therapeutic or similar purposes and their stay does not exceed a 365-day...

08 Mar 2021

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

in Company Law, Special topics

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...

17 Feb 2021

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Secondment of employees to Greece