Greece Geography, Politics, and Culture

Long considered the cradle of Western civilization, Greece is located at the crossroads of Europe, Asia and Africa. It is also recognized as the birthplace of democracy, Western philosophy and literature, the Olympic games, as well as major scientific and mathematical principles. With Alexander the Great who conquered much of the ancient world, from the eastern Mediterranean to India, Greek language and culture, even under the Roman empire, dominated the world during the late B.C. and early A.D. years.

The modern nation of Greece is a unitary parliamentary republic with an advanced economy, a high quality of life and standard of living. As a member of the European Union, it is the largest economy in the Balkans. Its demographics comprise of a population of over 10 million people, but with a rapidly declining birth rate and increasing mortality rate.

It is one of the most mountainous countries in the area, although it is surrounded by the Aegean and Mediterranean seas along its peninsulas. It features a number of islands with Crete being the largest and most populous. Greece has a highly desirable climate with mild, wet winters and hot, dry summers, attracting millions of global vacationers every year eager to experience its beautiful scenery and blue waters.

2021
March 2525th of March (national holiday)
March 25Annunciation of the Lord
April 30Orthodox Good Friday
May 1Labor Day / May Day
May 3Orthodox Easter Monday
June 21Orthodox Holy Spirit Monday
August 15Dormition of the Holy Virgin
October 28The Ochi day
December 25Christmas Day
December 26Synaxis of the Mother of God
  • A.E. (Anónimi Etaireía / Ανώνυμη Εταιρεία, Α.E.; officially translated into S.A.)
  • A.V.E.E. (Anónimi Viomichanikí Emborikí Etaireía / Ανώνυμη Βιομηχανική Εμπορική Εταιρεία, Α.Β.Ε.Ε.)
  • E.E. (Eterórrithmi Etaireía / Ετερόρρυθμη Εταιρία, Ε.Ε.)
  • E.P.E. (Etaireía Periorisménis Efthínis / Εταιρεία Περιορισμένης Ευθύνης, Ε.Π.Ε.)
  • M.E.P.E. (Monoprósopi Etaireía Periorisménis Efthínis / Μονοπρόσωπη Ε.Π.Ε., Μ.Ε.Π.Ε.)
  • O.E. (Omórrithmi Etaireía / Ομόρρυθμη Εταιρεία, Ο.Ε.)
  • O.V.E.E. (Omórrithmi Viomichanikí Emborikí Etaireía / Ομόρρυθμη Βιομηχανική Εμπορική Εταιρεία, Ο.Β.Ε.Ε.)
  • I.K.E. (Idiotiki Kefalaiouchiki Etaireía / Ιδιωτική Κεφαλαιουχική Εταιρεία)
  • Corporate Tax: 28% (+ 28% paid in advance & returned after 1 year + 10% on distribution of profit)
  • Income Tax (Lowest Marginal Rate): 22% (€1,900 tax deducted if income is not over €21,000)
  • Income Tax (Highest Marginal Rate): 45%
  • VAT/GST/Sales Tax: 24% (standard rate), 13% (health and tourism services), 6% (theater tickets, books and medicine). For some islands away from the mainland the rates are 17%, 9% and 4%, respectively.
  • Alpha Bank (State Bank)
  • Eurobank Ergasias (State Bank)
  • National Bank of Greece (State Bank)
  • Piraeus Bank (State Bank)
  • B&N Bank, Greek Branch (Foreign Bank)
  • Bank of America (Foreign Bank)
  • Bank of Cyprus (Rep. Office) (Foreign Bank)
  • Bank Saderat Iran (Foreign Bank)
  • BMW Austria Bank (de) (Foreign Bank)
  • BNP Paribas Securities Services (Foreign Bank)
  • Citibank Europe (Foreign Bank)
  • Credit Suisse (Luxembourg) (Foreign Bank)
  • Deutsche Bank (Foreign Bank)
  • DVB Bank (Foreign Bank)
  • FCA Bank (Foreign Bank)
  • FCE Bank (de) (Foreign Bank)
  • Fimbank (Foreign Bank)
  • HSBC Bank (Foreign Bank)
  • HSH Nordbank (Foreign Bank)
  • Opel Bank (Foreign Bank)
  • ProCredit Bank (Bulgaria) (Foreign Bank)
  • The Royal Bank of Scotland (Foreign Bank)
  • UniCredit Bank (Foreign Bank)
  • Volkswagen Bank (de) (Foreign Bank)
  • Ziraat Bankası (Foreign Bank)

Aadmi can support you with your expansion to Greece. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns.  Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.

Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.

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