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euros creating 120 new jobs, instead of 75 mil-
lion euros creating 200 new jobs.
• Investments creating more than 150, instead
of 250 new jobs, as previously required.
• Industrial investments of more than 15 million
euros, within business parks.
• Investments of more than 3 million euros, pro-
moted through the JESSICA program, which
finances urban interventions aimed at upgrad-
ing the city dwellers' quality of life.
Moreover, a shorter mandatory period (45 days
instead of two months) is set for the issuance of
permits, while the competent authority has a strict
deadline of 7 working days since the submission
of the file, in order to request any additional infor-
mation required for its completion.
The new institutional framework provides for new
types of Letter of Guarantee. The first type, the
Tender Guarantee, is equal to 0.5% of the cost of
the investment and is returned to the investor
after the completion of the licensing process. The
second, the Performance Bond, is equal to 0.75%
of the total cost of an investment and is returned
upon completion; it replaces a letter of guarantee
equal to 2% of the investment, which had to be
submitted along with the complete licensing file,
after the project's inclusion to the strategic invest-
ment provisions.
Greek Law Digest, investors
guide.
Everything a potential investor needs to know has
been collected in one volume, an extremely use-
ful tool that will be regularly updated.
A team of 100 legal counsels and economists, in
cooperation with the Ministry of Development and
the “Invest in Greece” agency, put together a
wealth of information about the legal framework,
as well as the structure and operation of the coun-
try's public administration.
In this guide, which is also available in electronic
form, potential investors can find information
about the Greek judicial system, the basic institu-
tions of civil law, the types of companies and
other business ventures and their organization
and operation (SAs, Limited Liability Companies,
Mutual Funds, Banking Enterprises, company
setup guide etc.), mergers and acquisitions, sol-
vency and insolvency, commercial agreements
(agency, distribution, leasing, franchising etc.),
commercial paper and bonds, labour and social
security issues, investments (investment incen-
tives, “fast track” etc.), public procurement and
contracts, the Greek banking system, privatiza-
Trade with Greece
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tions, financial products, real estate, tourism,
energy (wind and solar power, natural gas, biofu-
els etc.), information technology, telecommunica-
tions, media, advertising, the environment
(resource protection and management, waste,
environmental responsibility etc.), food and drink,
pharmaceuticals, exports and imports, immigra-
tion issues, intellectual property and patents,
competition (monopolies, unfair competition etc.),
consumer protection, tax guide (natural person
and legal entity taxation, indirect taxes, money
laundering), personal data, security, transport,
gaming, sports law etc.
The investors Guide is also available in electron-
ic form at www.greeklawdigest.gr, as well as at
the websites of the Ministry of Development, the
“Invest in Greece” agency and the Athens
Chamber of Commerce and Industry.