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Doing Business in Greece for Dummies

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London Gourdine

on 24 February 2014

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Transcript of Doing Business in Greece for Dummies

Doing Business in Greece for Dummies
General Information about Greece
-Type of government: Republic
-current leader: Karolos Paroulias (president)
-currency: Euro
-population: over 11 million
-language: Greek; learned languages: English, French,
Italian, and Spanish.

Economy of Greece
Starting a Business in Greece
-minimum amount to start an enterprise:
large-500,000 Euro
medium-250,000 Euro
very small-100,000 Euro
-name of business must be approved by chamber of commerce
license or authorization is required before you can carry out a business
-Greece legislation prohibits business agreements or practices that directly aim at or indirectly result in the hinderance of free competition, as well as monopolies, mergers and purchases of shares that result in the hinderance of free competition
-Labor regulations very similar to ours

Business Customs
-Dress: Very nice and somewhat formal;casual dress not allowed
arrive on time even though you may have to wait
allow host to begin and end the business discussion
acceptable to interrupt current speaker
agendas are made but are usually not followed closely

Business Entities (continued)
-General Partnership-entity in which all the partners are jointly and severally liable for the debts of the partnership without limitation in liability
-all entities are subject to coporate tax
Business Entities
-Forming a Corporation (Anonymous Eteria)
Temporary registration of the corporate name with the Chamber of Commerce
tell corporate purpose
address share capital
minumum-60,000 Euro
receive establishment approval from the Ministry of Developement
-administration carried out by the Board of Directors and shareholders (governing body of company) at a meeting
-Board of directors must consist of at least three members
By: London Gourdine
-major industries: tourism, food and tobacco processing, textiles, chemicals, metal products, mining and petroleum
-GDP-294 billion (USD)
-inflation rate 1.5%
-exports: food and beverages,textiles,manufactured goods,petroleum products and chemicals
-export partners: Italy, Turkey, Germany, Bulgaria and Cyprus
-imports:machinery,transport equipment,chemicals and fuels
-import partners: Russia, Germany, Italy, Saudi Arabia, Netherlands, China and France
-external debt: 576.6 billion (USD)

-Works Cited
-Start off with Good Day (Kali mera) or if is Monday Good Week (Kali Ebdomada) when requesting something
-being barefoot, unless you're o on the beach, is considered odd and rude
-Women do not go in Church with a sleeveless shirt or shorts
-Men do not go in with shorts
-face to face contact is preferred
-work day starts early,ends at lunch, may begin again 5:00
-everyday wear usually informal unlike other European countries
-nodding and thumbs up is rude
Full transcript