Many laws in Greece can affect local companies. If a business operates in Greece, it must ensure that the applicable laws are followed. For a business to legally transact, it may need to obtain leases or permits for the local area. Businesses in Greece also have unique factors to consider about how the company should be structured.
Business Transactions in Greece
A business must be aware of local business laws in Greece in order to contract with consumers and local companies. A contract provides predictability for future transactions, and it helps in avoiding business disputes. However, it must be drafted in compliance with Greece and New York law. There are some requirements that a valid business contract in Greece must fulfill in order to be given legal effect. The field of contract law carries its own unique language, making some documents challenging to arrange properly. Contracts can also be breached by parties who fail to fulfill their contractual duties. Contracts disputes in Greece may be handled in local courts.
Business Structure in Greece
If you are starting a business in Greece, you will want to know about the business structures that are available under local law. You may want to organize as a Sole Proprietorship, a Partnership, a Corporation or an LLC. There are advantages and disadvantages of each of these business structures in Greece, and you should be careful in determining which one is best for your company. If you need to dissolve a business, there are certain requirements the local law imposes. Attorneys practicing Business Law in Greece can ensure everything is done properly.