Setting Up A Business in Greece
Greece is popular for its beauty, rich history and culture. It is a favourite destination of tourists from all across the world. The country has 16,000 km of coastline with numerous islands and enchanting places.
Greece has a relatively appealing business climate that accommodates foreign investors. The country’s geographic location provides access to various markets in the European Union, Eastern Europe, and the Black Sea as well. Considering Greece generates a huge portion of its revenue from tourism, it is logical to assume that there are many business opportunities.
Greece is on the recovery path from a serious economic crisis that lasted about a decade, and it has made reasonable gains as far as the economy is concerned. This in itself offers opportunities to foreign investors looking to ride the wave of an economy that is bouncing back.
Whether you are an entrepreneur or a startup exploring business opportunities or expanding your business operations to Greece, here are some things that you need to know before setting up your business in Greece.
Register your business
Greece may be accommodating to foreign investors, but it is also very strict with registrations and other paperwork that you need to set up your business. There is a long list of requirements that you must meet to set up a business in Greece, but registering your business is the most important requirement. This is the same in other countries where there are business opportunities. Whether you are starting a new company or expanding, you must ensure that the business is legally registered. To achieve this, you need the help of a local business lawyer or firm. If you need a reliable law firm with experience in registering and helping businesses to settle in Greece, visit oikonomakislaw.com.
Familiarise with business regulations
To get your business up and running without any issues with regulating agencies, you need to be conversant with business regulations. An experienced lawyer or law firm might be your best option when trying to understand regulations. Being a foreigner starting a business in Greece, the regulations might seem different and confusing for you. You should expect a tedious vetting process that will require the submission of various documents to establish your business and to make sure it meets the regulation standards.
Obtain business licenses
There are different licenses you need to operate a business in Greece. The kind of business you are setting up will determine the kind of business license you need to obtain. Ensure that you have all business licenses needed to operate in Greece to prevent disruptions to your business operation.
Get your financials and taxes in order
You must apply for a tax identification number before opening up your doors for business. Set up a company account and other financial documents as required by the business regulating agencies. This further emphasises the need to employ a law firm with experience in helping businesses get started in Greece.