Should You Invest in Greece?

Both Justitia Advisory Ltd in Cyprus and Bahas, Gramatidis & Partners in Greece have a long tradition of providing quality services to foreign clients when they face legal issues in these countries. Further, through the extensive international legal network of the World Law Group, of which Bahas, Gramatidis & Partners is a member, they are in a position to assist their clients with expert local advice in 65 countries. We speak to their CEO, Yanos Gramatidis on which sector is booming in Greece.

As Honorary President of the American Chamber of Commerce in Greece, what are your aims for 2018 to improve American-Hellenic commercial and financial relations?

I am always involved in various activities as i.e. conferences, business delegations aiming at the fostering of the business relations between Greece and the US as well as between Cyprus and the US. In the frame of such activities, we encourage US foreign direct investment in Greece and Cyprus.

What are common issues your clients have when you are assisting them in foreign matters?

Our US clients (and others outside the US) are in need of information and legal assistance on issues, such as: the establishment of a subsidiary in Greece or Cyprus; the procedures involved in M&As; the review of commercial agreements with Greek or Cyprus counterparts as to their compliance with local laws; the tax parameters when it comes to business activities in Greece or Cyprus and, the litigation process when it comes to debt recovery, or to resolution of various commercial disputes etc.

From the above, what could be done to change this and prevent such issues from occurring?

As to the simplification of procedures relating to the establishment of a subsidiary or conducting an M&A deal in Greece or Cyprus, or as to the establishment of a business relationship with local partners in these countries, we inform clients of the most efficient way to achieve their goals -taking into account the reforms programme taking place in both countries. Further, we navigate safely and efficiently our foreign clients in the Greek or Cyprus administrative reality and we manage them to be benefited from our long cooperation with the administrative and judicial systems in the above countries.

Out of all the fields you advise on for clients, which do you think is currently the strongest for Greece, for the business community to be aware of?

A very interesting and actually booming sector of the Greek and Cyprus economies, is real estate. There are tremendous investment opportunities for foreign investors in Greece and Cyprus as the prices of properties are very attractive; and the two countries have introduced serious incentives in this sector as i.e. the acquisition of a permanent residence permit through the purchase of real property in both countries and even the acquisition of a Cyprus passport through the conclusion of an investment in Cyprus.

Yanos Gramatidis

Of Counsel

Bahas, Gramatidis

26 Filellinon street

105 58 Athens

Greece

e-mail: y.gramatidis@bahagram.com

www.bahagram.com

Yanos Gramatidis is the CEO of Justitia Advisory Ltd, a legal consultancy operating in Nicosia, Cyprus. He is also Of-Counsel of Bahas, Gramatidis, and is leading its Government & Privatisation practice. He is extensively involved in complex M&A and privatisation projects, advising both the government and the private sector. Yanos has a strong corporate and commercial practice advising clients as Mars, United Airlines, Whirlpool, Praktiker, Attica Bank, Boeing Capital Corp. and others.

Bahas, Gramatidis & Partners is dedicated to providing the highest quality legal services. We believe that, to serve clients effectively, a law firm must meet clients’ needs for both today and tomorrow through a business-oriented, practical application of our diverse skills.