GREECE Trends and Developments Contributed by: Claire Pavlou, Katerina Tzamalouka and Angeliki Papadaki, Kyriakides Georgopoulos Law Firm
Succession Law Reform: New Framework for Family Business Planning Whilst not directly relevant with the sections set out above, it is worth noting that with Law 5303/2026 published in the Government Gazette on 22 May 2026, Greece has enacted its most comprehensive reform of succession and family law in eight decades. Key innovations include the introduction, for the first time in modern Greek law, of inheritance contracts – binding agreements executed before a notary that determine how specific assets will pass on death – alongside a recalibration of the reserved-share (forced heirship) framework. The reform also strengthens the position of surviving spouses in intestate succession, equalises the inheritance rights of civil union partners with those of married spouses, and tightens the valid - ity requirements for holographic wills. Although Law 5303/2026 was published in May 2026, the major - ity of the substantive reforms – including inheritance contracts – will become effective on 16 September 2026. This reform carries direct practical implications for estate planning, business succession structures, and cross-border wealth management involving Greek assets and is expected to give a boost to the attrac - tiveness of Greece as a jurisdiction for high net worth individuals, family offices, and internationally mobile wealth. Conclusion The Greek legal and commercial landscape in 2026 reflects a striking balance of opportunity and com - plexity. Record levels of M&A activity, a revitalised capital market, and growing investment across sec - tors such as energy, healthcare, hospitality, gaming, technology and defence highlight a jurisdiction that has undergone meaningful and lasting transforma - tion. The accelerating pace and breadth of regulatory change – encompassing corporate law, FDI screening, sustainability reporting, cybersecurity, digital transi - tion and taxation – is placing increasing demands on businesses across all sectors and sizes. Yet this regulatory maturation, far from deterring investment, reinforces the institutional credibility and predictability that international businesses and investors increas - ingly require when committing capital to a market over the medium and long term. For businesses and inves - tors prepared to engage with this evolving landscape, Greece – despite rising energy costs and inflationary
through Law 5100/2024, extending minimum tax obli - gations to Greek-headquartered multinational groups and to Greek subsidiaries of foreign groups that fall within the scope of the rules. Law 5104/2024 mod - ernised the Tax Procedure Code, introducing proce - dural changes relevant to tax audits, assessments, appeals, and enforcement. Taken together, these tax developments require businesses to ensure that their group structures, transfer pricing policies, and tax compliance processes are appropriately calibrated to the new international standards and that internal reporting capabilities can meet the associated data and documentation demands. Emerging Sector: Defence and Defence-Tech The defence and defence-tech sector merits specific attention as a driver of deal activity and legal complex - ity in the period ahead. Greece is emerging as an attractive destination for defence, automotive and aerospace investment. The country’s twelve-year, EUR26 billion defence mod - ernisation programme – supplemented by EUR787.7 million in SAFE funding – is generating substantial procurement and investment activity. The establish - ment of the Hellenic Centre for Defence Innovation as a state-backed co-ordinator for defence research, development, and commercialisation provides an institutional framework for private sector engagement with the national defence agenda. Dual-use technolo - gies – commercial platforms with defence applications spanning robotics, cybersecurity, space services, and surveillance – are a particular area of interest for both strategic and financial investors. While defence-tech M&A remains a niche segment compared to larger European markets, it presents emerging opportunities for strategic investors and consolidating players in the region as the sector matures. Clients operating in this space should be alert to the convergence of FDI screening obligations, export control requirements, and national security clearance processes that together characterise defence-related transactions and demand a rigorous and co-ordinated regulatory approach from the outset of any deal pro - cess.
434 CHAMBERS.COM
Powered by FlippingBook