Investments in Greece - choice is yours!

Posted 20/05/2012

Greece is going through a deep economic decline and to get out of it will be a very slow step. This is indisputable goes beyond any statistics. Of course, it’s happened due to more extensive debt crisis, which has affected now the Eurozone, and the "strong economic” countries of Europe. Even countries that are industrially developed should take measures of reductions of budgetary expenses.   

Therefore, foreign investments will significantly change the situation. During the last years, the government did a number of major reforms to improve the investment climate in the country, such as simplifying registration and licensing procedures, as evidence, the adoption of new legislation and benefit programs.

One of these laws, according to our experts, deserved a special attention -  so-called, Fast Track. This law is specifically designed to accelerate the procedures for issuance of strategic investments.

What is a strategic investment? It is an investment of national importance, which facilitates the country's withdrawal from the economic crisis concerning the construction, reconstruction, expansion and modernization of the infrastructure: 

In industry

In electricity 

In tourism 

In communication and transport 

In health 

In recycling

In high-technology and innovation

It is necessary to note the advantages of strategic investments for the investor.

First, due to the crisis from Greece were withdrawn enterprise of some multinational corporations, as well as some banks and their staff; as a result on the market appeared a number of commercial properties at very attractive prices.

Second, the strategic investments give a possible not only to eliminate competitors, but also to reduce production costs and to increase sales.

Here should be added that the tourism has a comparative advantage in Greece, tourist islands which hardly could be compared with any other country in the world, needs further development and presents real opportunities for investors.

Another perspective sector for investment - is energy, using the renewable energy sources for electricity generation. Greece, due to the climatic conditions, will play a key role in this market.

As well as, the agriculture which is a growing sector could be a very attractive investment. Greece still kept a small-lot production, whereby there is no competition and offers a sales market. 

Categories of investment projects:

At least 200 million euros.

At least 75 million euros with employment generation (200 placements).

No restrictions in the total amount of investment, including at least 3 million euros invested in high-technology and innovative projects.

No restrictions in the total amount of investment, of which at least 3 million euros invested in high-technology and innovative projects every 3 years.

No restrictions in the total amount of investment, of which at least 3 million invested every 3 years in projects that create value added in the field of education, research and new technologies.

No restrictions in the total amount of investments that contribute to employment generation over 250 permanent jobs.

Specific license terms of investment projects: 

• Environmental plan confirmation. 

• Urban plan confirmation. 

• Permission for coast line and beach using. 

• Supporting and related projects

Our company has wide experience in realization of investment programs, qualified staff confirmed the successful implementation of investment projects in various fields of business. Such as, expansion and modernization of hotel complexes, parks creation of alternative energy (solar panels).

We will prepare a complete package of documents to include your company to fast track procedure and will be always ready for meeting with you in order to inform you about all the details of the fast track procedure.

The first thing that you need to provide to the potential investor is a full package of documents, including a business plan and economic evaluation.

And in turn we will take care of the whole process of obtaining relevant documents and licenses.

For two weeks, our experts will study all documents and will make recommendations to the Interministerial Committee for Strategic Investments (DESE), which during the month shall take a decision on including the investment project to the strategic.

After that the investor’s documents will pass to competent state authorities which during of 2 months will issue all the necessary licenses. If for any reason licensing delayed, you may use as a temporary license the certificate of documents acceptance.

Finally, I would like to say that if you want to realize your financial goals, you need to have a clear plan that allows to keep a close watch on the goals execution.

So the answer to the question "Is it profitable to invest in Greece?" - Is no longer relevant. Make your choice!