BUSINESS IN GREECE.
Sometimes there is an impression that everything is so bad in Greece, that nobody has opened anything for a long time, but no …. Someone will say that a large number of new small companies are due to the fact that people can not find a job and create it themselves, while others will simply note that it is now easy for anyone. And with all that, with such an annual tour. the flow of Greece is not worth complaining about the lack of options for earning. So, we answered the frequent questions of subscribers regarding the procedure for opening a business in Greece.
1. Tell us, please, how can you emigrate through buying or opening a business in Greece and do you need investments for this?
All business emigrants can be divided into several categories:
& # 8212; People who moved under the investment business program. In this case, you need at least 250 thousand euros.
& # 8212; People who have the status of financially independent persons. In this case, a person does not have the right to work in the country, but must have sufficient income in order not to work in Greece. This category of immigrants also has the right to conduct their business.
2. What is the procedure for registration of an LLC and IP by a foreigner in Greece?
In this case, there are two different procedures.
& # 8212; If a foreigner buys a company or registers an LLC, you must first come to Greece, rent or buy a property in which the company will be, complete all the documents, register an LLC, rent a family home and return home. And already with the family to open a business visa and come to Greece.
& # 8212; If a person registers an individual entrepreneurial activity, then, in this case, the company can be registered even remotely without coming to Greece. You can also come to Greece and already there to apply to the consulate with the investment project, show your income at home, money on the account, etc. If the project is approved, it is possible to register business activities and obtain a corresponding residence permit.
3. How do the applicant and his family immigrate further?
After the initial entry visa is received, the applicant arrives, finishes all the necessary steps for the registration of the company or the purchase of the business and submits the documents for obtaining a residence permit for himself and the family.
If it is business activity or investment business, then such a residence permit can be extended for five years. If it is financially independent person, then for two years. All these terms are taken into account when registering a permanent residence permit.
Greece does not require any knowledge of the language. However, in order to move smoothly to the entrepreneur and his family, you need to pay all state fees, family members should not have previous convictions and dangerous infectious diseases.
4. Can I buy or open a new company myself without resorting to the services of intermediaries?
In the case of buying a company, you need at least the participation of a lawyer and an accountant – at least, these two specialists you will have to hire.
If we talk about the opening of a new company, then, theoretically, a person has the right to submit documents on his own, but later he still has to apply to the accountant.
In practice, such an option can be safely attributed to the category of fantasy, because a huge number of bureaucratic delays takes about two months of life, even among experienced people, and a beginner in this situation generally will literally settle in the corridors of all social instances.
5. Is the foreign company obligated to hire local residents and do you have any other obligations, for example, in terms of income?
Legislation Greece does not oblige a foreign company to hire local residents, but technically it turns out that if you buy a company, then there are likely already local workers. In general, by law, an entrepreneur has the right to work himself and not to hire anyone at all, whether it’s an LLC or an IP. If we talk about partnership in JSC, then in any case there should be several founders.
Requirements for the new company Greece makes such: it is necessary to pay all taxes, including VAT, the company must be registered in all social funds, licensed activities need to get a license. Also, to extend the residence permit, the entrepreneur’s commercial activities must be successful, that is, there must be at least some positive balance.
In theory, in Greece it is believed that the applicant must earn about 10-12 thousand a year, so that the whole family had the right to live with him and extend the residence permit. But in practice, this amount does not really cling, because even local companies have little with this level of income.
6. What are the benefits and grants for new firms in Greece?
Greece is divided into different economic zones and benefits for new enterprises vary greatly depending on them. For example, zones of islands, peripheral zones provide some discounts on social taxes, sometimes they provide a discount on income taxes, if the members of his family live with the entrepreneur and, divided by all, the income from the enterprise turns out to be small.
Fortunately for entrepreneurs, there are grants, this is about 10-20 thousand euros, but they are allocated under certain conditions. First, the enterprise should not be completely new, but having at least some experience of activity, and secondly, the activity of the enterprise should have at least some social benefit (the production of some useful goods, the employment of local residents in an area where the high unemployment rate, etc.). Most often, grants are allocated for equipment, thanks to which the entrepreneur expands the already existing business.
7. What type of business do you consider promising in 2016 and from which, on the contrary, would you advise you to abstain?
Many of our clients have a business that is not geographically bound (bloggers, investors, web developers, etc.) and they just want to change their country of residence and stay in it legally. This is an advantageous option for international business, because Greece has the lowest level of accommodation costs in the EU.
Most often our compatriots open small catering establishments, shops, repair shops, services in the field of cosmetology. These areas will be promising.
Abstain from projects in which you need to invest a very large amount – you need to think about the payback and economic feasibility, because the crisis in Greece has not been canceled yet.
8. What advice would you give to future entrepreneurs?
Half of its customers, I advise you not to open a business immediately when moving. To move better in the curriculum: the training is free, the first year is allocated for language learning, and already with the knowledge of the language and local mentality, it makes sense to think about starting your business.
Another good option is to get the status of a financially independent person, if there is such an opportunity, and, having lived a little in the country, open a business.
In any case, when you start a business, you will definitely need to pay all taxes (200-300 euros per month), regardless of whether you are doing business or not, whether you have income or not.
For those who still want to do business in Greece from the very beginning, good conditions will be provided: absolute transparency of payments, absence of illegal threats to business (many people in their homeland tried to “squeeze out” business through raider seizures, etc.).
9. Is it easy for a firm to close if it does not generate revenue and how does the process of converting a foreign entrepreneur and his family occur? That is, can you ever stay in the country?
If you have already moved to conduct independent business activities and have obtained a residence permit for five years, then it is quite easy to stay. If there was any income, then it is prolonged.
If there was absolutely no income, then you need to preoccupy with extending the residence permit and, possibly, convert it into an educational or financially independent person.
Moving as a financially independent person is much more convenient if the whole family moves. There is no need to be afraid: whether the business is successful, whether the family will survive – the residence permit is prolonged even in cases when the spouses are divorced and one of them leaves. And if the family moved under the business of one of the spouses, then the further extension of the residence permit for the family members will depend entirely on him.
If you want to order a detailed drawing up of a plan for your move by business immigration or other options – sign up and we’ll contact you.