Mark your calendars and join us for EMBCA’s “Doing Business in Greece - Part 2 “ Panel Discussion Webinar on Thursday, May 27 at 12 P.M. EST (11 A.M. PST/ 7 P.M. Athens EEST). The panel discussion will be in Association with AHEPA’s Hellenic Cultural Commission. The event will be introduced by Lou Katsos, EMBCA's President/Founder and AHEPA’s Hellenic Cultural Commission, and moderated by Konstantine Drougos the Managing Director of Argo Marketing and EMBCA V.P.. The distinguished panel, in formation, will include Christian Hadjiminas, Chairman of EFA GROUP, Vice President of Hellenic Entrepreneurs Association (EENE); Peter Vlitas, Sr. Vice President at Internova Travel Group; and Mr. Yiannis Koukouras, President of Twelvesec Cybersecurity. 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 are now in 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 explain/ elaborate on the process of “Doing Business in Greece” as the Hellenic Republic heads to potentially becoming a regional and Global Hub for Doing Business. Due to the overwhelming response to our last “Doing Business in Greece” we have decided to do this “Part 2” to continue the dialogue with proven experts in the field who can help provide guidance. We hope this continuing conversation contributes to a wave of expanded innovation and Hellenic business insights and opportunities in this regard.
As we are entering a post Covid world doing business in Greece has become easier. 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) continues upward year over year. 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 and new legislation 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.