GREECE Law and Practice Contributed by: Anastasia Dritsa, Elisabeth Eleftheriades, Vicky Kriketou, Irene Kyriakides, Ioanna Kyriazi, Victoria Mertikopoulou, Claire Pavlou and Panagiotis Pothos, Kyriakides Georgopoulos Law Firm
Kyriakides Georgopoulos Law Firm Dim. Soutsou 28 street
Athens Greece Tel: +30 210 817 1500 Email: kg.law@kglawfirm.gr Web: kglawfirm.gr
1. Legal System 1.1 Legal System and Judicial Order
the legal interpretation adopted by Areios Pagos in relation to the specific legal matter decided. Neverthe - less, such rulings do not constitute generally binding precedent for all courts in future cases. Overall, the Greek legal system reflects the civil-law tradition – ie, Parliament-made statutes and codified rules are the primary source of law, while case law plays an important supporting role in clarifying how those rules are applied in practice. 2. Restrictions on Foreign Investments 2.1 Approval of Foreign Investments General Framework Greece introduced its first standalone foreign direct investment (FDI) screening mechanism through Law 5202/2025 (the “Law”), implementing Regulation (EU) 2019/452 on the screening of foreign direct invest - ments into the Union on grounds of security or public order. The regime became operational in November 2025 following the issuance of the implementing Joint Ministerial Decision No 64260/2025 regulating the notification process and supporting documentation. The Greek FDI regime applies to investments by third-country investors, as well as by EU-based enti - ties directly or indirectly controlled by third-country persons or governments. The regime applies to both greenfield investments and acquisitions resulting in direct or indirect control, or qualifying minority participations, in businesses active in covered sectors.
Greece is a civil-law jurisdiction, primarily based on written law, codes and statutes, rather than on binding case law. The main sources of law are the Constitu - tion, legislation enacted by Parliament, codes such as the Civil Code, Criminal Code and Codes of Proce - dure, as well as European Union law. The Greek courts are organised into separate branch - es. Civil courts deal with private disputes between individuals or legal entities, while criminal courts handle criminal offences. Administrative courts hear disputes between individuals or businesses and the State or public authorities. At first instance, cases are heard by lower courts, depending on the nature and value of the dispute or the seriousness of the offence. Appeals are generally heard by courts of appeal. At the highest level, Areios Pagos acts as the supreme court for civil and criminal matters, while the Council of State is the supreme administrative court. The Court of Audit also has supreme jurisdiction regarding specific public finance matters. Unlike common-law systems, Greek judges do not formally create binding precedent in the same way as UK courts. Their role is mainly to interpret and apply written law. However, decisions of Areios Pagos are highly influential and help ensure consistency in the interpretation of legislation. In particular, when Areios Pagos issues a judgment and refers the case back to a lower appeal court, this latter court is bound by
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