GREECE Law and Practice Contributed by: Theodoros Skouzos and Natalia Skoulidou, Iason Skouzos TaxLaw
1. Legal System and Regulatory Framework 1.1 Legal System
• investments that are subject to special incentives, such as fast-track licensing or tax benefits.
2. Recent Developments and Market Trends 2.1 Current Economic, Political and Business Climate Greece is viewed as a stable, reform-oriented, invest - ment-grade eurozone economy with a clear pro-FDI stance, now complemented by a new national FDI screening regime. Following its 2010–2018 crisis, the country has grown faster than the euro area average, led by investment and tourism. The IMF notes that public debt has dropped by over 55 percentage points of GDP since 2020, aided by strong growth and fiscal discipline, and Greece has regained investment-grade ratings across agencies. Credit Ratings and Market Perception Greece has been upgraded by Moody’s to Baa3 (March 2025); by DBRS to BBB; and by Fitch to BBB with a stable outlook (November 2025), all citing debt reduction and resilient growth. These upgrades sup - port FDI through lower sovereign risk, cheaper financ - ing and a more predictable macro environment. Political and Institutional Context The centre-right New Democracy government has held a single-party majority since 2023 and remains pro-EU and pro-business, with elections not due until 2027. Issues such as a large agricultural subsidy fraud case have caused political scrutiny but not broader instability. Overall, Greece is viewed as being politi - cally steady, with consistent policy direction.
Greece is a parliamentary democracy with a written Constitution. It has been a member of the European Union since 1981, and is a member of the eurozone. Greece is a civil law jurisdiction, and its court sys - tem is comprised of civil, administrative and criminal courts. Private law disputes fall under the jurisdiction of the civil courts, while taxation disputes and regula - tory matters generally fall under the jurisdiction of the administrative courts and the Council of the State. The institution of Independent Authorities has been enshrined in the Greek legal order relatively recently, with the following Independent Authorities being the administrative authorities of the State: • the Independent Authority for Public Revenue; • the Supreme Council for the Selection of Person - nel; • the Communications Privacy Authority; • the Personal Data Protection Authority; • the National Authority for Higher Education; • the National Authority for Transparency; and • the National Telecommunications and Post Com - mission (EETT). Greece is a member of the United Nations, NATO, the OECD, the Organization for Co-operation in Europe, the Council of Europe, UN Tourism, the International Maritime Organization and UNESCO, among other organisations. The right to property is a fundamen - tal right under protection of the State, as provided in FDI does not require a review or approval from any national authority, per se. Approval procedures are required mainly in the following cases: • the purchase by foreign investors of real estate rights over land in border areas, including several islands; • investment in regulated sectors (pharmaceutical, mining, gaming, etc); and Article 17 of the Greek Constitution. 1.2 Regulatory Framework for FDI
Business Climate Strengths include:
• a strategic location linking Europe, Asia and Africa; • steady progress in digital government, licensing and energy-market reforms; and • relatively low labour costs, with a skilled workforce. However, structural challenges remain, including: • bureaucratic complexity;
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