January 16, 2020 Business in Greece

January 16, 2020

If you are reading this article, chances are that you are considering starting your company in Greece. While this move needs a lot of planning like every other business decision, it is worth it. Greece is a popular European nation that benefits from its strategic geographical location. It is a country rich in history and culture and is one of the European countries that enjoy a huge number of tourist visits.

Strategically located in the South-Eastern region of Europe, Greece connects Europe, Asia and Africa. This offers companies a better reach to markets in three continents. Greece is well developed with a high-income economy, a high quality of life and standard of living – boasting of the strongest economy in the Balkans. One of the reasons why you should consider starting your company in Greece is that it is ranked high on the Human Development Index, which is a solid indicator that it has a thriving business climate.

Greece is on its path to recovery from a devastating financial crisis that lasted for about a decade. It is making reasonable gains and is also attracting a huge amount of foreign investment. For instance, if you are buying a property in Greece for a hospitality business, you are likely to make more money renting it out to tourists than trying to resell it. New opportunities are springing up, with investors looking to become key players in the economy.

Whether you are a startup company exploring business opportunities or expanding your business operations to Greece, here are five steps that you need to take to get started.

Do Your Research

This is probably the most important first step that you need to take before starting your business in Greece. While your company ideas may be great and show great potential to make great returns, you need to be sure that there is a market for it in Greece. Once you have identified a market where your business can thrive, then you can proceed to set it up.

Business Registration

Once you have decided to start your company in Greece in 2020, the first thing you need to do is register it at the appropriate government agency in Greece. There is a long list of things to do, but this is the most important one in the entire process, and you will not have a company in Greece without it. Whether your company is a new one or you are expanding an already existing business, you need to get it registered. And to do this, you need the help of a lawyer or law firm with experience in helping companies get registered and settled in Europe. If you are looking for a reliable law firm, then visit oikonomakislaw.com.

Understand business regulations in Greece

To set up your company and get it running without any obstacles, you need to be familiar with the business regulations in Greece. Employing the services an experienced law firm is a great way to navigate regulations that might seem a bit confusing. For foreigners starting a company in Greece, the regulations are different for you.

Obtain all necessary licenses

To start a company in Greece, there are different licenses you need to obtain to operate a company in Greece. The type of company you are starting will determine the type of license you should obtain. Ensure that all licenses needed to operate in Greece are obtained to prevent your company from getting shut down.

Set up your accounts and taxes

This should be one of the first things that you need to have in place to start a company in Greece. Apply for a tax identification number, set up a company account and other financial documents as needed by your company for regulation and tax purposes.

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