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Greece has the 51st largest economy in the world, with a nominal gross domestic product (GDP) amounting to 189.410 billion USD per annum. It is also the 16th-largest economy in the European Union. Tourism has been one of the largest and most active sectors in Greece until the COVID-19 outbreak. In recent years, the banking and finance sectors in Greece have attracted huge international hedge funds due to the Greek non-performing loan (NPL) market which is the largest in Europe by a large margin. There is also a rise in investment in real estate and logistics. Once the pandemic situation improves, we can expect the tourism sector to rise, as well as foreign investors to position themselves in the country again.

How to build a team in Greece

Employers need to follow the strict employment guidelines set forth by the local authorities before they could employ in Greece. This process can be time-consuming as the company first needs a legal entity in the country and it needs to manage payroll, tax, benefits and compliance.

Global payroll solutions make it easy to find and hire top talent in Greece. With one seamless integration and local legal entity, we take care of the compliance matters so that you can start your globelizing plan immediately.

Compliance risk

Risk of misclassification

Greece’s worker classification labour and tax laws distinguish between contractors and full timers. If the individual meets the legal definition of an employee but is classified as a contractor, your company will face penalties.

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