Foreign Ownership in

Greece

Investing across Border

Greece and Spain apply additional equity restrictions on airport operations, and
Japan, France, and Spain have limits on foreign ownership of ports.

Foreign equity are limited to the transportation sector, while other countriessuch
as Greece and Spainlimit foreign ownership in more sectors, including electricity
and media.

The time required to lease land from the government ranges from 3 weeks in
Greece to almost 5 months.

Enforcement times range from about 1 month in France to almost a year in Greece

Economies restrict foreign ownership in one third or more of the sectors measured
by the indicators: Bolivia, China, Ethiopia, Greece, India, Indonesia, Malaysia,
Mexico, Morocco, the Philippines, Saudi Arabia, Sudan, Thailand, and Vietnam.

The overall process of acquiring land. Leasing public land is fastest in Greece

Greece presents restrictions on foreign equity ownership greater than the average
for the 11 member states of the European Union covered by the Investing Across
Sectors indicators. It imposes restrictions on foreign equity ownership in select
utility sectors, in particular in the electricity industry.

Greece imposes restrictions on the air transportation sector, in which foreign

ownership is limited to 49%. This equity restriction, however, only applies to
investors from countries outside of the European Economic Area (EEA). Furthermore,
foreign capital participation in the airport operation sector is limited to a less-than50% share. Currently, all Greek airports are owned and operated by public entities.

The minimum paid-in capital requirement for domestic and foreign LLCs in Greece is
4,500

There are 2 separate regimes governing arbitration in Greece. Law 2735/1999

regulates international commercial arbitration, and the Code of Civil Procedure
(Presidential Decree 503/1985) governs domestic arbitration.

Greece that does not fall within the definition of international arbitration.
Private law disputes are generally arbitrable, providing that the parties have
the power to dispose of the object in dispute. Parties are free to appoint
arbitrators of any nationality, gender, or professional qualifications.

On average, it takes around 45 weeks to enforce an arbitration award

rendered in Greece, from filing an application to a writ of execution
attaching assets (assuming there is no appeal), and 43 weeks for a foreign
award.