CENTRALIZING OUTSOURCING in GREECE – ESTABLISHMENT OF INTRA GROUP SERVICES IN GREECE
Greece oﬀers a pro-business environment, a modern legal framework, and competitive financial incentives for the establishment of Global Business Services/ Shared Service Centers and BackOffice and FrontOffice Outsourcing/BPO centers.
BELT AND ROAD ASSOCIATES supports Chinese companies wishing to invest in Greece for the establishment of Global Business Services / Shared Service Centers and BackOffice and FrontOffice Outsourcing / BPO centers.
• Geostrategic location of the country
• Highly qualified and experienced labor force
• Competitive labor costs
• Flexible labor market
• Generous Investment Incentives
• Quality broadband infrastructure
• Competitive real estate cost
• Excellent climate and living conditions
• An EU member country enjoying stability, security and prosperity
• The type of the business entity, can be established either as an office or branch of a foreign company or as a domestic company
• Simple, fast and transparent licensing, through a ONE-STOPSHOP service
•Legal certainty with pre-defined profit margin on costs, set separately for each company in accordance with the OECD instructions for intra-group transaction charges and updated every five years.
•Residence and work permits for its foreign staﬀ
Intra-group service centers eligible services:
(a) consulting services,
(b) centralization of accounting services,
(c) QC of production, products, procedures and service,
(d) preparation of studies, designs and contract,
(e) advertising and marketing services,
(f) data processing,
(g) receipt and supply of information,
(h) research and development services,
(i) software development, and information system support,
(j) storage and management of files and information,
(k) supplier, customer and supply chain management,
(l) management and training of human resources,
(m) contact center and computer-based telephone information.
FINANCIAL INCENTIVES FOR INTRA-GROUP SERVICES IN GREECE
Greece also oﬀers a set of Financial incentives in the form of Financial grants to enable companies centralizing captive operations and achieve cost eﬀectiveness.
TYPES OF INCENTIVES
a) Job Creation Subsidy-Grant .
50% of total wage cost for up to 100 permanent full-time employees recruited in the first five years of operation for up to twelve 12 months following their recruitment, and up to the amount corresponding to gross salary maximum of 2,000 euros per month.
b) Training Program Subsidy-Grant
50% of the cost for training new employees related to the new activity
c) CAPEX Subsidy- Grant & Wage Cost Subsidy-Grant.
50% of the equipment & software purchase cost and wage cost of any new employees who serve the new activity for up to 12 months following their recruitment, and up to the amount corresponding to gross salary of 2,000 Euros per month. The above costs are eligible up to 400,000 Euros.
d) R&D Grants
Foreign companies wishing to establish R&D centers in Greece for the purpose of providing research and development services that fall into one of the categories a) industrial research; b) experimental research and c) feasibility studies are supported with cash grants to cover part of the eligible costs:
- Personnel costs.
- costs of buildings, instruments and equipment.
- costs of contractual research and consulting services used exclusively for the project.
- additional overheads and other operating expenses.
- costs for feasibility studies.
Download the guide ‘Centralising, Outsourcing in Greece’ provided from ENTERPRISE GREECE