General Information

Greece enjoys an interesting geographical position for activities in South Eastern Europe or the Eastern Mediterranean region. The country also offers interesting opportunities, particularly in the field of circular economy, water treatment or even energy. Many measures have been taken to encourage investment (including subsidies, tax benefits, Golden Visa...) and the reforms underway for many years are ongoing. In addition, Greece is among the largest beneficiaries of the European funds (NGEU) set up in the framework of the health crisis.

In 2022, France was Greece's 8th largest supplier.

In business relationships, it is important to be careful and find a good local partner. Crises have weakened some companies, and access to bank credit remains difficult for some of them, particularly SMEs.

English is spoken by many merchants and business leaders.

However, it should be noted that human relations play an important role.

Means of Payment & Banking Specificities

Cheques are one of the most commonly used means of payment, but this method is not recommended, especially for the settlement of international transactions.

It is the same for the “promissory letter" or "promissory note”. This is an acknowledgement of debt issued through the bank's channel but has no currency value.

Swift and SEPA credit transfers are recommended. In order to secure transactions, it is possible to use a stand-by letter of credit, a documentary credit, a credit insurance, or, better still, an advance payment. It should be noted that SBLCs and others guarantees are commonly used while less use is made of documentary credits.