Greece is a unicameral parliamentary republic, member of the UN, the EU, eurozone, OECD, WTO and NATO.
Even in the midst of the present financial crisis, in 2010, it was ranked among the 30 richest countries in the world measured by per capita income, and according to the UNDI it is the 22nd most developed nation in the globe. With one of the longest coastlines in the world, 227 inhabited and thousands of uninhabited islands, endless miles of sandy beaches, mountains and forests of unparalleled beauty, a unique cultural heritage as a cradle of Western civilisation and Eastern Orthodoxy, numerous World Heritage sites, and a leader in the tourism and shipping industries, Greece is an ideal place for investing. Situated in South-eastern Mediterranean at the crossroads between three continents, Europe, Asia and Africa, Greece features a mild climate and modern infrastructure, an exceptional strategic outpost for interested investors.
Executive authority in Greece is exercised by the Government, legislative authority by the 300-member Parliament, while the Judicial system is independent. The Prime Minister is the head of the Government and appoints the members of cabinet, while the President is the head of the Republic and its armed forces.
Following the devolution of 2010, the country is divided in 13 regional authorities, each with extensive powers. All laws in the country have to abide with the current Constitution and the European Treaties. Minimum net monthly salary is 751 Euros, and minimum net day salary is 34 Euros. Greece’s workforce is highly trained and knowledgeable. Economic policies (including taxation, salaries, lay-off compensation, structural reforms, insurance, pensions, privatisations, etc.) during the period between 2010 and 2014 are bound by the Memorandum of Understanding, signed between Greece and its emergency lenders (IMF, ECB and EU).
Setting up a company in Greece usually takes one day,using the «one stop shops», which are operated by the chambers of commerce in each of the country’s 13 regions. Big investments projects are subject to speedy approval through the «fast track» procedure. More details can be found at the «Invest in Greece»government web page. All laws and decisions of the Greek government, including contracts, hiring, calls for tender and procurements, are openly available in the «diavgeia» portal (in Greek).
|Time zone||EET (UTC+2)|
|Summer (DST)||EEST (UTC+3)|
|Drives on the||right|
|Capital (an largest city):||Athens (37°58'N 23°43'E)|
|Ethnic Groups||94% Greek, 4% Albanians, 2% others|
|Demonym||Greek (Officially: Hellenic)|
|Independence Day||March 25|
|GDP (PPP) 2010||Total||€230.919 billion|
|GDP (nominal)||Total||€221.710 billion|