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Special topics

Iason Skouzos & Partners > Special topics (Page 7)

Personal Companies Initiation

Those who wish to engage in commercial practice for the first time or alongside with their main activity, pursuing a common objective with at least one partner, have the option of establishing some form of company. The advantages of establishing a company are the following: a) a new legal entity is formed, with its own property and b) a contractual relationship is created between the partners....

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Acquisition & Occupation of Real Estate Costs, Evaluation & Taxation

The costs of the  notarial act’s  signature includes  the notary's fee - which is usually paid by the purchaser, as well as the lawyer's and the estate agent’s (if any) fee for each party.The cost of the contract’s recordation, paid by the purchaser, includes the recordation fee of the Land Registry Office and/or the Cadastre Office....

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Silent partnership

With articles 285-292 of Law 4072/2012, the State has for the first time attempted to regulate -even though in a loose manner- issues concerning the silent partnership, a corporate form that always used to appear very frequently in practice, but was barely regulated by Law. Due to this lack of non-exhaustive legislative regulation, the silent partnership constitutes the corporate type where the principle of contractual freedom has known its greatest implementation, with partners having the power to regulate their (internal) partnership relations totally freely....

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Employee Transfer Agreement

The combined meaning of article 651 Civil Code which states that “unless something else applies on the basis of the agreement or the circumstances, the employer must fulfill his obligation personally and the employer’s claim is not alienable” and 361 & 648 Civil Code, suggests that an agreement, according to which the employer who has the employee’s services at his disposal can concede his claim for the said services to another person with the employee’s consent (which can be provided in whatever way, explicitly or implicitly, to the original or the subsequent employer), insofar as this relationship is based on...

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S.A. company acts and details subject to publicity

At the time of the company’s incorporation, statutory provisions have to be published regarding the following matters: 1) Company name 2) Registered seat 3) Corporate object 4) Company’s duration, 5) The amount of the share capital and manner of its contribution (cash or contributions in kind) 6) Shares (number, type of shares and nominal value) 7) Corporate financial year (beginning-end) 8) Regular auditors (if any) 9) Complete information (identification data) of the Members of Board of Directors and information regarding the company’s representation. The following information has to be published during the company’s opperation: Each year: 1) The annual financial statements (balance sheet, income statement, income appropriation account and Notes). 2) The invitation...

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I.K.E. company acts and details subject to publicity

Information which has to be published at the time of incorporation: 1) name of the sole shareholder or shareholders 2) inclusion in or deletion from the company name of the word “sole-shareholder” 3) the company’s website 4) appointment of a company operator 5) assessment of the partners’ capital contributions in kind 6) statutory provisions concerning the following data: i) name, surname and e-mail address of the partner ii) corporate name iii) company’s seat iv) corporate object v) the fact of the company being an IKE company vi) share capital, partners’ contributions and kind of contributionsvii) shares total viii) initial amount of the partners’ shares and the kind of contribution they represent ix) operator and...

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Tax treatment of director’s fees paid by a UK company to Greek tax residents

In respect to the taxation on Management Board Member’s fees and dividends provided by a corporate body or legal person or legal entity with registered offices in the UK, the following apply: According to the new Income Tax Return Code (Law 4172/2013, from now on “ITRC”), the taxpayer that is a tax resident of Greece, is under the obligation to pay taxes based on his global income. A. Dividends taxation Income  from dividends is considered a capital income (article 35 of ITRC) and is being taxed at a rate of 10% (article 40 par. 1 of ITRC). When a Greek national taxable natural person...

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