How we help Indian businesses invest in Greece
Our team of lawyers and accountants are highly experienced in servicing Indian clients and expats from India who are looking to:
- Expand their business operations into Greece.
- Migrate to Greece
- Invest in Infrastructure projects in Greece
- Opening a company in Greece
- Carry out other business, investment and migration activities in Greece.
Our legal and accounting partners offer the full range of commercial services to Indian nationals doing business in Greece including:
- Company opening service for Indian businesses
- Migration and citizenship advice including Golden Visa Applications
- Regulatory compliance including registering as a foreign director and creating a tax number
- Opening a foreign branch or subsidiary in Greece
- Writing a bid or tender for Government tenders in Greece and writing and winning EU tenders and bids
- Purchasing property including hotel and other assets in Greece and in the wider EU and advising on EU tax
Our personnel include:
- English speaking accountants who understand the India Greece Double Tax Treaty
- English speaking accountants and tax advisors who also understands the India Greek Tax Avoidance Treaty and who are able to undertake due diligence on investments in Greece.
- English speaking regulatory consultants and bid and tender writers including Jason Cooney, founder of Tsaks Consulting and highly experienced in European and international bids and tenders including defence bids.
Our knowledge of the India-Greece Double Taxation Avoidance Agreement (DTAA)
Our team of consultants, in addition to advising on infrastructure investment opportunities such as ports and airports, also have strong experience in the advising on the intricacies of the India-Greece Double Taxation Avoidance Agreement (DTAA) and the implications of it for Indian businesses doing business in Greece and Indian people investing in Greece.
The agreement is a critical bilateral agreement between both governments that has been in place since 1967 and ensures the prevention of double taxation concerning taxes on income and capital.
It applies to income tax and super tax in India, as well as tax on physical persons, income tax on legal entities and special taxes levied in Greece concerning freight in Greece.
There are a number of aspects of the Greece and India double tax avoidance agreement that are critical for
Key Highlights
- The concept of a permanent establishment. It states that there much not be a tax levied on the commercial profits earned by a permanent establishment of an enterprise in the other territory.
- Withholding tax rates: There are set withholding tax rates in the DTAA. These are:
- Interest: 20%
- Dividends: 20%
- Royalties: 10%
- Where dividends are paid from a company to an individual, and the individual is a resident of another country, they are subject to taxation by the country which is making the dividend payment.
- Immovable property tax and capital gains tax: This occurs in the country where the property is located or the capital gain arises. I.e. if there is a capital gain in India it is taxed in India. This also applies to capital gains tax.
- The taxing of pensions: Pensions are taxed in the territory where they arise – irrespective of the residency location of the individual.
- Provision for the exchange of information: India and Greece are required to share information and there are provisions to ensure that information is kept confidential.
- Credit method application: The credit method will be applied by both countries on the occasion of double taxation.
A summary of how the DTAA
The DTAA between Greece and India gives assurances to Indian businesses expanding into Greece and operating and opening companies in Greece that the credit system will be applied and there is a balanced approach to taxation.
Whilst there is an exchange of information clause, this is targeted and designed to limit tax evasion and maintain international transparency standards – if you are conducting general business and complying with taxes and regulations it doesn’t present an issue.
How our accounting and legal partners who specialise in helping Indian nationals and Indian businesses expand into and operate in Greece can help you
Greece and India have a strategic relationship and bilateral ties have been greatly improving in recent years. This presents a great opportunity for Indian companies to invest in and do business in Greece and leverage on it as a gateway to the EU.
Our team of analysts, accountants and legal partners can assist with all aspects of your operations in Greece. We will work with you to:
- Arrange visas and migration to enter Greece
- Conduct due diligence on potential acquisition opportunities
- Purchase property and other assets
- Establish companies
- Establish subsidiaries
- Apply for a Golden Visa (including through start-up)
- Conduct marketing and market penetration initiatives
- Comply with Greek taxes and other regulatory requirements.
Contact our team today to discuss how we can assist with your next project. We work collaboratively with law firms and accounting firms in India as required.