Table of Contents
XVIII
Greek Business Law
A Handbook for Businesses and Legal Practitioners
17.3. Employment issues
................................................................................................................................. 114
17.4. Tax treatment
............................................................................................................................................. 114
17.4.1. Transfer of business
.................................................................................................................... 114
17.4.2. Transfer of assets
......................................................................................................................... 115
17.5. Types of spin offs under Greek corporate law
......................................................................... 115
17.6. Procedures applicable to divisions
................................................................................................ 116
18. Open-ended Mutual Funds and Closed-ended Funds
.......................................... 117
18.1. Open-ended mutual funds
................................................................................................................ 118
18.2. Closed - ended funds
............................................................................................................................. 120
18.3. Foreign funds
............................................................................................................................................. 121
19. Venture Capital
....................................................................................................................................... 122
19.1. Brief overview of the venture capital market in Greece
.................................................... 122
19.2. Tax incentive schemes encouraging investment in venture
capital companies
................................................................................................................................... 123
19.3. Legal structure(s) commonly used as vehicles for venture
capital funds in Greece
......................................................................................................................... 123
19.4. Regulation of venture capital funds
.............................................................................................. 124
19.5. Regulation of the relationship between investor and fund
............................................ 124
19.6. Rights of a fund in its capacity as holder of preferred shares
......................................... 124
19.7. Rights commonly used to give a fund some management control
over an investee company
.................................................................................................................. 125
19.8. Restrictions on the transfer of shares by shareholders
...................................................... 125
19.9. Protections of investors as minority shareholders
................................................................ 126
PART V: TAX
20. Taxation of Business Entities
....................................................................................................... 127
20.1. Main taxable legal entities
.................................................................................................................. 127
20.2. Income tax rates
....................................................................................................................................... 127
20.3. Withholding tax on dividends distributed by Greek companies
and Greek branches
............................................................................................................................... 127
20.4. Permanent Establishment (PE)
......................................................................................................... 129
20.5. Taxable business income (net profit before tax) in Greece
.............................................. 130
20.6. Tax deductibility of expenses
............................................................................................................ 130
