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Due diligence is the structured process of investigating and assessing legal, financial, operational, and regulatory matters before a transaction or strategic decision. In Thivais, Greece, due diligence most often arises in corporate acquisitions and investments, real estate purchases and leases, financing transactions, joint ventures, and compliance reviews. The goal is to identify risks, confirm assumptions, and allocate liabilities through contractual protections and informed decision making.
Greek law shapes the content and depth of due diligence. Core areas include company law, contract and property law, tax, employment and social security, environmental regulation, personal data protection, competition law, anti-money laundering, intellectual property, and sector specific licensing. Local factors in Thivais, including urban planning rules, cadastral status, and municipal permits, also matter. A well run due diligence combines national level legal checks with site specific and municipal level verifications so that findings can be translated into clear solutions, such as price adjustments, indemnities, closing conditions, or post closing action plans.
You may need a lawyer in Thivais when you are buying or selling a company, shares, or assets, investing in a local business, or entering a joint venture. Legal counsel will test corporate authority, ownership, contracts, compliance history, and potential undisclosed liabilities, then convert the findings into protections in the transaction documents.
If you are purchasing, selling, or leasing property, a lawyer will perform title checks at the competent Land Registry or Hellenic Cadastre office, review encumbrances and litigation, verify zoning, building legality, and permits, coordinate with an engineer for technical certificates, and manage the notarial and tax elements of closing.
For regulated activities, such as manufacturing, energy, food, health, transportation, or financial services, counsel will review licensing, environmental permits, health and safety compliance, consumer protection, and data protection practices, and will map any required notifications to authorities before or after closing.
In financing transactions, a lawyer structures security, validates collateral capacity, prepares registrable documents, and runs searches to ensure priority. In competitive tenders and public procurement, counsel checks bidder eligibility, conflict of interest, and contract terms, and helps prepare compliant submissions.
Even where no deal is imminent, a compliance due diligence can be valuable. Companies often instruct lawyers to run health checks on anti-money laundering procedures, privacy programs, employment documentation, or corporate governance, which helps avoid fines or delays later.
Corporate and M&A. Greek company law sets rules for corporate form, capacity, and governance. Key statutes include Law 4548-2018 for sociétés anonymes, Law 4072-2012 for private companies and general provisions on commercial companies, and Law 4601-2019 on corporate transformations. The General Commercial Registry, known as G.E.MI., holds official corporate filings. For significant concentrations, Greek merger control under Law 3959-2011 requires notification when turnover thresholds are met, and the EU Merger Regulation may apply to very large deals.
Contracts. The Greek Civil Code governs contracts, warranty, limitation periods, and assignment. Contract due diligence focuses on change of control clauses, termination rights, exclusivity, penalties, and unusual indemnities. For consumer facing contracts, consumer protection laws are also relevant.
Real estate. Title is verified at the competent Land Registry or the Hellenic Cadastre. In some areas Greece still operates transitional mortgage registries, while in others the electronic cadastre is in force. Real estate deals require a notarial deed, registration, and tax clearance. Building legality checks and certificates under Law 4495-2017, planning permissions, and energy performance certificates are part of the standard package. Local urban planning departments for Thivais and the region apply zoning, land use, and density rules that must be confirmed before investment.
Planning and environment. Environmental permitting follows Law 4014-2011 and related decisions on environmental impact assessment. Industrial and commercial projects also need operating licenses and health and safety compliance under Law 3850-2010. In due diligence, lawyers and engineers review permits, environmental liabilities, waste management, and any non compliance that could trigger remediation costs or administrative sanctions.
Employment. Employment relations are shaped by the Greek Labor Code and recent amendments, including Law 4808-2021 on labor reforms. Transfers of business are governed by the transfer of undertakings framework, which protects employee rights on asset deals. Due diligence covers contracts, collective agreements, social security contributions, working time and overtime practices, independent contractor classification, and pending disputes.
Tax. Buyers assess corporate income tax, VAT, withholding, stamp duty, and any special levies relevant to the industry. For real estate, acquisition may be subject to real estate transfer tax or VAT depending on the property and current law. The Code of Tax Procedure, Law 4174-2013, and the Income Tax Code, Law 4172-2013, are central references. Tax clearances and debt certificates are standard pre closing items.
Data protection. The EU GDPR applies, supplemented by Greek Law 4624-2019. Due diligence should review the lawfulness of processing, records of processing, data subject requests, international transfers, security measures, and past breaches or fines. The Hellenic Data Protection Authority is the competent regulator.
Competition and distribution. Greek competition law, Law 3959-2011, prohibits anti competitive agreements and abuse of dominance. Distribution and agency contracts require careful review for exclusivity and non compete. Fines can be significant, so compliance programs are a recurring due diligence focus.
Anti money laundering. Law 4557-2018 sets customer due diligence, beneficial ownership, and reporting rules. The Greek UBO Register and internal procedures are part of AML checks. For investors, source of funds documentation and KYC procedures are routinely requested by banks and notaries.
Public procurement. Law 4412-2016 governs public contracts. Bidders and contractors should expect scrutiny of exclusion grounds, past performance, and subcontracting chains, and should ensure their documentation matches the tender requirements.
Intellectual property. Trademarks, patents, designs, and copyrights are checked for ownership, chain of title, renewals, and encumbrances. Software licenses and open source compliance are frequent review points in technology deals.
Local practice in Thivais. In addition to national laws, investors should account for municipal procedures for urban planning certificates, local taxes and fees, and practical lead times at registries. For property and industrial projects, site visits with a local engineer and confirmation of utilities, access roads, and neighboring uses often uncover issues not visible in desk reviews.
For a small business, scope usually covers corporate records from G.E.MI., key contracts with suppliers and customers, employment and social security status, tax filings and clearances, licenses and permits, litigation checks, data protection compliance if personal data is processed, and for asset deals any real estate or equipment titles and liens. The scope is adjusted to the sector and risk profile.
Timing depends on the size of the target and data room readiness. A focused review for a small company might take 1 to 2 weeks. Mid market deals often need 3 to 6 weeks. Real estate timing depends on registry responsiveness and engineer reports. Building in buffer time for follow up questions is prudent.
Much of the work can be done remotely through digital registries, virtual data rooms, and official extracts. However, notarial acts for real estate closings are in person, unless you use a power of attorney or consular power. Site inspections and engineer surveys are typically in person.
Prepare corporate formation documents and recent G.E.MI. excerpts, lists of shareholders and directors, financial statements, major contracts and leases, employment rosters and template agreements, tax certificates and recent filings, permits and licenses, privacy policies and any regulator correspondence, IP registrations, real estate deeds and cadastral details, and a list of disputes or claims. Clean and organized files speed up the process.
If participants are non Greek speakers, certified translations may be required for key documents and for notarial execution. For working level review, bilingual summaries are often sufficient, but final signing versions and registry submissions must follow formal language requirements. Use certified translators familiar with legal terminology.
Common issues include building irregularities without legalization certificates, unregistered renovations, easements or liens not visible in older deeds, discrepancies between cadastral maps and on the ground boundaries, agricultural or forest classifications that restrict use, and unpaid municipal fees. Early coordination with a local engineer helps manage these risks.
Under Law 3959-2011, a concentration must be notified to the Hellenic Competition Commission when certain turnover thresholds are met. Large cross border deals may fall under the EU Merger Regulation instead. Counsel will test thresholds and timing to avoid gun jumping and closing delays.
Lawyers review environmental permits, past inspections and fines, waste and emissions records, and compliance with environmental impact approvals. Engineers or environmental consultants may sample soil or groundwater if the site use suggests contamination risk. Contractual protections can include specific indemnities and escrow for remediation.
Depending on the property and current rules, acquisitions may attract real estate transfer tax or VAT, plus notarial and registry fees. There may also be municipal levies and engineer costs. A tax advisor should model the taxes for the specific property and structure, for example asset versus share deal.
Costs vary with scope, volume of documents, and the need for specialists. Many law firms offer phased budgets, for example a red flag review followed by an in depth review of identified issues. Fixed fees are sometimes available for standard real estate checks. It helps to agree on scope, deliverables, and assumptions in writing.
Hellenic Cadastre, known as Ktimatologio, for property maps, titles, and encumbrances. Local Land Registry or Mortgage Registry offices handle registrations where the cadastre is not yet in force.
General Commercial Registry G.E.MI. for corporate filings, officers, and solvency indicators.
Hellenic Competition Commission for merger control and competition enforcement guidance.
Hellenic Data Protection Authority for GDPR compliance guidance and decisions.
Independent Authority for Public Revenue AADE for tax procedures, clearances, and e services.
Ministry of Environment and Energy for environmental permitting categories and planning policies.
Municipality of Thivais, Town Planning and Building Service for zoning, building permits, and local planning information.
Regional Authority of Boeotia for regional development, environmental, and civil protection matters.
Local Bar Association for referrals to licensed attorneys experienced in due diligence and real estate.
Define your objectives and risk tolerance. Clarify whether you need a high level red flag review or a full scope investigation covering legal, tax, financial, and technical streams. Prepare a list of specific questions you want answered, such as permit status, contract termination risks, or employee liabilities.
Engage a local lawyer with due diligence experience. Ask for a proposed scope, timeline, team composition, and budget. Ensure the firm can coordinate with an engineer, tax advisor, and, if needed, environmental and financial specialists. Sign an engagement letter that sets confidentiality, deliverables, and conflicts of interest checks.
Organize a data room. Collect corporate records, contracts, permits, and statements in a clear folder structure. For real estate, include deeds, cadastral information, building plans, legalization certificates, and recent utility bills. Good organization reduces time and cost.
Plan registry and site checks. Authorize your counsel to obtain official extracts from G.E.MI., the Land Registry or Cadastre, and the competent tax office. Schedule site visits with an engineer to validate planning compliance and on the ground conditions.
Address findings early. Ask your lawyer for a concise report that ranks issues by severity and proposes solutions. Use the findings to adjust price, add indemnities or escrow, set closing conditions, or plan remediation. Document all agreed actions in the transaction documents.
Prepare for signing and closing. Arrange notary appointments, powers of attorney if you cannot attend, certified translations where required, and tax payments and certificates. Confirm filing steps with the registries and set responsibility for post closing registrations and notifications.
Set a post closing checklist. Ensure timely filings with G.E.MI., the Cadastre, tax authorities, and any sector regulators. Implement compliance improvements identified during due diligence, such as updating privacy notices, renewing permits, or regularizing building documentation.
If you need tailored legal assistance in Thivais, contact a licensed Greek lawyer who practices in due diligence, corporate and real estate law. Share your documents securely, agree on scope and timelines, and proceed with a structured plan that matches your transaction goals.
