Greece

Ease of Doing Business in

Greece

This page shows summary Doing Business 2012 data for Greece. The first table lists the overall "Ease of Doing Business" rank (out of 183 economies) and the rankings by each topic. The rest of the tables summarize the key indicators for each topic and benchmark against regional and high-income economy (OECD) averages.

Economy Overview

Region OECD high income
Income Category High income
Population 11,329,170
GNI Per Capita (US$) 27,240.00
Doing Business 2012 Rank Doing Business 2011 Rank Change in Rank
100 101 down 1
Topic Rankings DB 2012 Rank DB 2011 Rank Change in Rank
Starting a Business 135 149 up 14
Dealing with Construction Permits 41 42 up 1
Getting Electricity 77 78 up 1
Registering Property 150 151 up 1
Getting Credit 78 75 up -3
Protecting Investors 155 153 up -2
Paying Taxes 83 80 up -3
Trading Across Borders 84 86 up 2
Enforcing Contracts 90 91 up 1
Resolving Insolvency 57 50 up -7

Economy Profile

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Starting a Business

Info

The challenges of launching a business are shown below. Included are: the number of steps entrepreneurs can expect to go through to launch, the time it takes on average, and the cost and minimum capital required as a percentage of gross national income (GNI) per capita.

DB 2012 Rank 135 DB 2011 Rank 149 Change in Rank up14
Indicator Greece OECD high income OECD

The total number of procedures required to register a firm. A procedure is defined as any interaction of the company founders with external parties (for example, government agencies, lawyers, auditors or notaries).

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Procedures (number)
10 -- 5

The total number of days required to register a firm. The measure captures the median duration that incorporation lawyers indicate is necessary to complete a procedure with minimum follow-up with government agencies and no extra payments.

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Time (days)
10 -- 12

Cost is recorded as a percentage of the economy’s income per capita. It includes all official fees and fees for legal or professional services if such services are required by law.

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Cost (% of income per capita)
20.1 -- 4.7

The amount that the entrepreneur needs to deposit in a bank or with a notary before registration and up to 3 months following incorporation and is recorded as a percentage of the economy’s income per capita.

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Paid-in Min. Capital (% of income per capita)
22.8 -- 14.1
No. Procedure Time to Complete Associated Costs
1 File company documents with the Athens Bar Association 1 day EUR 1208
2 Precheck with GEMINET the name of the company, the tax identification number of the founders, the compliance with the social security funf and the tax compliance certificate 1 day no charge
* 3 Sign the articles of Association before the notary 1 day (simultaneous with previous procedure) no charge
* 4 Once the signed articles of association are scanned and uploaded, pay for all the fees and obtain certification by the Lawyers Welfare Fund, the GEMI number and the tax registration number of the company 1 day (simultaneous with previous procedure) EUR 2459
* 5 Submit summary of the Articles of Incorporation to the Printing Office for publication in the Official Gazette (Fyllo Efhmeridas ths Kyvernhsews) 3 days (simultaneous with previous procedure) no charge
* 6 Register at the Chamber of Commerce and Industry 1 day, simultaneous with previous procedure EUR 146,48 + 2.4 % stamp duty
7 Deposit capital in a bank 1 day no charge
* 8 Make a seal 1 day, simultaneous with procedure 9 EUR 40
* 9 Have the Tax Authority hole-stamp the company’s invoice and account books 1 day, simultaneous with procedure 9 no charge
* 10 Notify the Manpower Employment Organization (OAED) within 30 days of hiring a worker 1 day, simultaneous with procedure 9 EUR 111 per company founder
* Takes place simultaneously with another procedure.

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