Greek labor law is among the most protective of employees in Europe, if not internationally. The Greek Constitution (1976, as amended) protects the right of Greek citizens to work (Article 22) as well as a number of other fundamental work-related rights, such as:

The freedom to:

  1. bargain collectively and conclude collective agreements;
  2. strike;
  3. and form, and participate in, trade unions;
  4. The principle of equal pay for equal work.


EU nationals can work in Greece under the same conditions as Greek citizens and no work permit is required. However, a residence permit must be obtained. They are valid for five years, starting from the date following the filing of the application. Usually, residence permits are issued on the day that the application is filed.
Non-EU nationals must obtain both a work permit and a residence permit. Applications for a work permit (including a list of supporting documents, such as a certified copy of the employee's passport and the employment contract) are submitted to the prefecture (district) where the employer has its seat or address, together with the appropriate fees.
The work permit takes about three months to process and its duration varies, depending on how many years the employee has been a Greek resident. An employee must obtain a work permit before he can obtain a residence permit.
For residence permits, the employee must submit the application and documentation to the municipality where the employer has its seat or address. The permit is usually issued within six months, and is attached to the employee's passport.

Business in Greece

One of the primary questions while moving to another country is a guarantee of benefits that can afford a normal life in a new place and confidence in the future. This is what usually one’s fast and painless adaptation to an environment in the unknown country depends on. There are different ways in the Greek market to invest your funds and to realize your abilities and vital energy. You can become an employer opening your own business: shop, restaurant, tavern, café, bar or a company of consumer services. On the one hand indispensable conditions of a successful business would be appropriate skills, faith in your own strength, persistence and patience. This is generally known. On the other hand you will have to face a tough competition on a Greek market that is oversaturated with such kind of services. For the formation of a new business you may need about year or two and you have to be ready for you will not receive profits during that period. So what to do? There are two ways: to be patient and to push hard your own business or invest in any other. In which one? The answer is simple: into a Greek real estate sector since there is no better protection for your capital then acquiring real estate objects for living or commercial usage in littoral regions of the country. The investment in Greek real estate will not only save and multiply your funds but also will secure stable annual profits.

The most profitable and secure way to invest into a Greek real estate is an acquiring land not far from the seashore and building a house there as a consequence. Selling such house during construction process will bring you 30-40% of benefits of your investments. Though selling a complete house will bring you 80-100% of profit. Furthermore you can build this house only in 8-12 months. Fast, isn’t it?

Investing into real estate of there own country is a common practice mostly for all residents of Greece. Cash deposit percentage in banks of Europe is not higher than 3-4% today. That is why Greeks are investing their money into realty. The most frequent type of investments is purchasing and building of two or even three houses in one area. One of them is for living with a family and others – for renting. Rent in this situation is used as a main source of revenue for the family or payment for hypothec if the property was purchased in this kind of way. There is also and another choice: building a house that consists of two independent parts. In these conditions one part is used by owners for living and another – for rent.

According to Greek legislation a rent contract is concluding for a period from one to three years and the rent is increasing by 10% annually. Thus with a zero risk rate this kind of business in the real estate market can provide a stable profit. You can boldly count on secure profits if you will decide to give a house for a long (couple of years) lease. This way annual profit will be 10-15% of the total cost of the realty object – object of leasing. Rent profits can be increased in case if it will be tourists who rented a house or villa. It gives you a real opportunity to earn a considerable capital within a short time period: rent payment of short-term lease is so increased that your daily profit is close to monthly profit of long lease. At the same time you should remember that for the realization of this plan a renting house must be necessarily near the seashore and that the short-term lease is “working” only in holiday seasons.

In this way abilities of littoral realty are double: saving and enlarging your funds (price appreciation for the realty in littoral areas of the country is more than 40%! annually) at the same time it can provide you a considerable monthly profit.

So your own villa on the azure coast of the Aegean Sea is an indicator of Your success for your family and your partners!

Detailed information: real@pommel.com