Doing Business in Greece

Expats doing business in Greece will find themselves in a challenging economic environment. A complicated and inefficient bureaucracy and a lack of access to regulatory information makes it quite difficult for expats and locals alike to start a business in Greece.

In the World Bank Ease of Doing Business Survey for 2020, Greece was ranked 79th out of 190 countries surveyed. The country did well in areas such as starting a business (11th) and trading across borders (34th). However, Greece fell short in ease of registering property (156th) and enforcing contracts (146th)

While much of Greece's economic activity is focused around Athens, the rest of the country offers opportunities as well. Some of the most prominent industries in Greece include tourism, shipping, agriculture, textiles and mining. 


Fast facts

Business hours

Business hours in Greece are from Monday to Friday, either from 8am or 9am to 4pm or 5pm. 

Business language

While many Greeks do speak English, having a working grasp of the Greek language or going into business with a first-language speaker are often essential for a successful business.

Dress

Appearances are important in Greece, and expats doing business there should dress neatly and conservatively.

Gifts

Gifts are generally not part of business relationships and may be construed as bribery, given the country's reputation for corruption. However, if a gift is given, it should be reciprocated with a gift of similar value. 

Gender equality

While women are equal under the law, many Greeks retain a 'traditional' view of gender roles and men still outnumber women both in the general workforce and in executive positions.

Greeting

Shaking hands is the most common business greeting in Greece. Eye contact is important.


Business culture in Greece

Greek culture shapes acceptable business practice. Expats will find that understanding local customs and values goes a long way toward understanding business culture, too.

Relationships

An emphasis on family and personal relations means that many Greeks like dealing with people that they know and trust. This contributes to the widespread nepotism in Greek business culture. Greeks also prefer face-to-face meetings over emails and telephone calls.

Hierarchy

Greeks maintain traditional views of democracy and honour. Meetings often entail vigorous exchanges of ideas but expats should take care when disagreeing with a colleague – this should be done in a respectful manner. Additionally, a lot of importance is placed on experience and employees are expected to respect more senior colleagues. 


Dos and don’ts of business in Greece

  • Do greet by shaking hands, smiling and maintaining eye contact

  • Don't be put off by personal questions – Greeks are warm and often curious people

  • Do be prepared to network and spend a lot of time getting to know associates

  • Do make sure that official documents and business cards are in English and Greek

  • Don't be late, even if Greek associates are

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