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Greece

How do wealth taxes affect family businesses?

April 20, 2023

The pandemic, the war in Ukraine and the economic recession that has followed, have, once again, sparked a new debate on taxing the wealthy. But, as Professor Raul Barroso discusses, such taxes might lead to unintended, negative repercussions.

The Covid-19 pandemic, the war in Ukraine and the economic recession that has followed, has, once again, sparked a new debate on taxing the wealthy.

Capital Hub: Obligation to declare UBOs to Greek Ministry of Finance’s Central Register

January 13, 2020

For the first time, legal persons and other entities are obliged to declare their Ultimate Beneficial Owners (UBO) to the Central Register of the Ministry of Finance (MFA).

For the first time, legal persons and other entities are obliged to declare their Ultimate Beneficial Owners (UBO) to the Central Register of the Ministry of Finance (MFA).

The Greek treatment of digital platform short-term property rentals

January 15, 2019

How the Greek legislation regulates short-term rentals of real estate property within the so-called framework of “sharing economy”.

The Greek legislation regulates short-term rentals of real estate property within the so-called framework of “sharing economy” (through digital platforms like Airbnb) in the article 111 of Law 4446/2016, as amended and in force.

Important definitions

A sharing economy is considered to be any model where digital platforms create an open market for the temporary use of goods or services that are often provided by individuals.

Global Greek couples in different countries set to gain from tax change

July 16, 2018

Following the decision of the Greek court, it is now possible for spouses to submit separate individual annual tax returns depending on their tax residency.

This decision comes as a solution to the problem of married couples who live separately due to various reasons, such as when one of them lives abroad because of professional engagements.

Following the decision of the Greek court, it is now possible for spouses to submit separate individual annual tax returns depending on their tax residency.

This decision comes as a solution to the problem of married couples who live separately due to various reasons, such as when one of them lives abroad because of professional engagements.

Villa thriller

June 20, 2013

Booked your summer holiday yet? Here are some extraordinary destinations just in case you haven’t.

Booked your summer holiday yet? Here are some extraordinary destinations just in case you haven't.

Andulasian adventure
The Olive Grove
Andalusia, Spain

Greek authorities scrutinise sale of Onassis island

May 31, 2013

Greek authorities are reportedly examining the legality of the sale of Skorpios Island, the private retreat of late shipping owner Aristotle Onassis, amid claims it contravenes the wishes outlined in his will.

Greek bottling family business to leave country

October 12, 2012

Greek bottling company Coca-Cola Hellenic, controlled by the David-Leventis family, plans to leave Greece, move its headquarters to Switzerland and list in London.

The family business, known for bottling Coke in 28 countries from Russia to Nigeria, said in a statement on 11 October that the move will benefit both the company and shareholders.

The view from Greece

August 6, 2012

Next-gen Agapi Sbokou is a director of sales and marketing at the Blue Palace Resort & Spa in Crete. She talks to Campden about how Greece is changing, why she joined the family business and her outlook for the future.

Agapi Sbokou is a director of sales and marketing at the Blue Palace Resort & Spa in Crete.

The vast majority of people in Greece see a European future for the country. They don’t want to leave the euro. The reason they are so angry is that the cuts were not explained properly at the start; people didn’t know what was going on, or the enormity of it and they were totally unprepared for this.

Family business roundup: PPR sees revenues increase, Coca-Cola Hellenic’s profit falls

February 17, 2012

French family business PPR has announced strong results this week, boosted by its luxury division, but Greece’s Coca-Cola Hellenic has seen its profit plummet by 28%.

PPR, the luxury and retail group controlled by the Pinault family, said revenues jumped 11.1% in 2011 to €12.2 billion, from €11.01 billion in 2010.

Remy Cointreau sees profits hit by Greek crisis

December 1, 2010

Remy Cointreau, the family-owned drinks company, has seen profits decline drastically for the first half as its Metaxa spirit suffered from Greece’s debt crisis.

Remy Cointreau, the family-owned drinks company, has seen profits decline drastically for the first half as its Metaxa spirit suffered from Greece's debt crisis.

Remy Cointreau's group net profit for the six months ending 30 September 2010 stood at €14.1 million, a 65% decrease on last year's €39.8 million. In a statement the group said the decline was "principally due to the highly unfavourable impact of the decline in Metaxa's sales in Greece."