Join us for EMBCA’s “Doing Business in Greece” Panel Discussion Webinar on Sunday January 10 at 2 P.M. EST (11 A.M. PST/ 9 P.M. Athens EEST). The panel will be moderated by Orestis Omran Partner and Head of the EU-Greek Practice at DLA Piper. The distinguished panel ,in formation, will include Antonios Achilleoudis the Managing Director of AXIA Ventures, Alysia Helming the Co Chairman of EarthFund Global, George Filiopoulos Chief Executive Officer of Enterprise Greece , and Michael Politopoulos Co-Founder of Cymer LLC and Co-Founder of Macedonia Thrace Brewery.
As we head towards a post Covid world doing business in Greece has become easier today than a decade ago when the economic crisis began. More state services have come online, investment incentives are kicking in, and reforms are boosting the labour market. Hellenic regulations have been cut significantly and continuing in that direction, with costs and taxes slashed and procedures streamlined, making starting a business faster, simpler, and less costly to set up. Reflecting palpable confidence in news out of Greece, Foreign Direct Investment (FDI) has picked up for the third year in a row. Furthermore, the government has outlined a non-domiciled regime and lump-sum taxation for individuals residing, for tax purposes, outside of Greece for the last seven out of eight years, that is applicable under certain conditions. The Hellenic Republic has also ushered in a new reduced tax bracket for personal income applicable as of January 1, 2020 and new legislation is being proposed that will offer low tax rates for EU retirees and hopefully soon US retirees. Among the key advantages of investing in Greece include a swathe of investment funds from EU- wide purses, such as the European Investment Bank and the European Commission’s so-called ‘Juncker Plan’ of strategic funds, which have also become available to investors. Recent investments within Greece from global companies from Cosco to Microsoft and many others have been leading the way.
The benefits of doing business in Greece includes its high quality logistics and communications infrastructure; its highly educated, skilled and talented workforce; a strong entrepreneurial tradition; and relatively lower cost of labor. In addition but not finally Hellas is a very desirable location to live and work with easy access from around the globe, has a high standard of living, with an important Diaspora and a great brand name. All this is coupled with various business opportunity sectors in Greece to consider including food and beverage, renewable energy, shipping equipment and services, information and communication technologies, travel and tourism, maritime and border security, and cosmetics and beauty products. However the Hellenic Republic's at times perceived Byzantine bureaucracy and business practices has baffled and discouraged investors for years. As we head towards the 200th Anniversary of Hellenic Independence it is the hope that this panel discussion with experts and successful business people in the field will help demystify the process of “Doing Business in Greece” as the Hellenic Republic heads to potentially becoming a regional and Global Hub for Doing Business.
