Why invest in Greece – 10 good reasons!
After a decade of economic crisis Greece is back and it has become a hotspot for investors. Cosco and recently Microsoft, Amazon and Pfizer are some of the global players which have chosen to invest in Greece. The investment project of Ellinikon, the former airport in the south of Athens has started with a multi-billion budget. Volkswagen has initiated in Greece a groundbreaking, innovative mobility project on the island of Astypalea. Greek bonds are issued with lowest interest rates. Construction business in Greece is booming.
1. Economic reforms
The financial support provided by the European Union during the crisis in Greece was connected to important structural reforms. These reforms have been painful, but at the same time they have given an important push for modernising administration and many other important fields related to business in Greece. At the same time many big infrastructure projects in Greece have been completed. Today Greece provides much shorter processed for starting business and investments.
2. High returns on investments in Greece
What makes investments in Greece so interesting? Greece is not an emerging market in the classic sense, but it is not a mature market either. Many economic sectors offer still high growth potential . At the same time in many industries a consolidation is still to happen. Consequently there are investment opportunities in Greece with extraordinary prospects of high returns.
3. High investment subsidies
The Greek government in order to boost investments offers through the development law high rates of subsidies. In fact investment subsidies can reach even 75% in specific sectors and regions of Greece. Highest subsidy rates can be achieved in the regions of Thrace, Central Makedonia, Epirus and Thessaly, The investor can contribute to the cost of the investment through equity financing or external financing. Eventually you can realise investments in Greece with 25% own financing.
The investments can refer to new businesses or the expansion of existing ones. The minimum investment budget depends on the size of the company and starts for very small companies at 100.000€.
Moreover for strategic investment projects Greek government offers a fast-track-process. This minimizes time for approvals and licenses. Evidently this legal framework creates a unique ground for highly profitable investment projects.
4. International business hub for three continents
Greece is located next to three continents with land borders to Albania, Bulgaria, Turkey and North Macedonia. Since ancient times it is a cross-road for Europe, Asia and Africa. So today Greece is an international business hub which allows for a huge market potential to become exploited. Greece has been an EU member state since 1981 and part of Eurozone since 2001. This means that setting up your business in Greece you benefit from a high stability and European business standards. At the same time you can develop a huge number of emerging markets in the region.
5. Transportation infrastructure
Within the last two decades transportation infrastructure in Greece has become significantly modernized. Today Greece has
- an excellent road network connecting all regions
- 15 international airports
- Modern logistics with main harbours in Peiraius and Thessaloniki
As consequence with its today infrastructure Greece allows easy travel from abroad to Greece, to Europe and within Greece. For this reason investors from abroad can use Greece as hub for their business activities all over Europe, the Middle-East and Africa. All destinations are only few hours away.
6. Invest in Greece to access Europe
As member state of the European union, entrepreneurs benefit from free access to European markets. A Greek corporation allows for free shipments to Europe. This means no complicated customs procedures and European cities are only few hours away.
Especially for companies from China, South Asian countries and North Africa, Greece is a very interesting option for establishing their hub for Europe and use it as distribution center for supplying to European markets. In many industries all over Europe major customers are asking for supply in short-time and smaller order lots. With an European distribution center in Greece, Asian and US companies can repackage and label products for their customers in Europe and export smaller lots in short time.
7. High-qualified human capital
Greece has a huge potential of highly qualified academics at all levels and almost all Greeks are speaking extraordinary good English. Approximately 45% of young people up to 35 years old have a higher education degree, which is a higher rate than the European average. Greece have a high share of academics specifically in the fields of Technology and Engineering. During the economic crisis, Greece faced a significant “braindrain”. Hundred thousands of young people with high qualification left the country. Now they are interested to return, having as an additional asset work experience in big international organizations. So when starting your business in Greece you have the possibility to implement a strong, local team. This is an extraordinary advantage for setting up an international hub in Greece.
8. Investor friendly environment
Greece and Greek people are very open and friendly to foreign investors. They see in them an opportunity and not a threat. This means that it is a pleasure to discuss and to start business activities in Greece. Starting your business in Greece you will enjoy hospitality and professionalism of your business partners.
Beyond on that Greece is a safe country and provides a high-level of health services. This environment turns doing business in Greece a pleasure.
9. Golden Visa for foreign investors
Greece has one of the most attractive permanent residency permit programs (Golden Visa) for investors in Europe. With an investment in Greece of just €250,000 foreign investors can apply for the Golden Visa. As holder of the Golden Visa investors have the right for permanent residency in Greece and free travel in all European countries within the Schengen zone. In contrast to other countries, Greece does not ask for a minimum stay or a minimum number of visits for maintaining the Golden Visa status. At the same time real estate prices in Greece are of the lowest in Europe. Recently the Greek legislation provided to holders of Golden Visa the possibility to apply for Greek citizenship.
10. Invest in Greece and enjoy life
Of course an international business hub in Greece offers the best environment to spend time in the country for combining business, pleasure and leisure. 300 sunny days per year! Blue waters, a great cuisine, beautiful holiday locations and a modern European infrastructure all this is Greece today. Greece a place where you enjoy to be. With your investment in Greece you have the opportunity to spend more time in Greece and to enjoy high lifestyle quality.