Share your needs with us, get contacted by law firms.
Free. Takes 2 min.
Funds and asset management in Athens, Greece refers to the professional management of investment funds and client assets under a regulated legal framework. This field includes mutual funds, alternative investment funds, pension funds, private equity, and discretionary portfolio management services. Athens is an important European hub for financial services, and the country’s laws harmonize with European Union regulations, making the city an attractive destination for both local and international investors. The industry is overseen by regulatory authorities that establish rules designed to protect investors and to ensure fair and efficient financial markets.
Legal counsel is essential in the funds and asset management sector for both individuals and companies. Engaging a lawyer can help you with the following common situations:
Funds and asset management in Greece is primarily regulated by the Hellenic Capital Market Commission (HCMC) and follows both Greek national law and applicable European Union directives. The most relevant legal texts include Law 4099/2012 concerning Undertakings for Collective Investment in Transferable Securities (UCITS), Law 4209/2013 for alternative investment funds, as well as numerous regulatory acts and circulars. These laws set rules regarding fund formation, licensing of managers, disclosure obligations, risk management, corporate governance, marketing, investor protection, and ongoing operational requirements. All market participants must adhere to anti-money laundering rules, tax legislations, and exhibit a high standard of transparency when dealing with clients and the state.
To set up a fund, you must select the fund type (such as UCITS or Alternative Investment Fund), draught the necessary documentation, appoint a fund manager, and obtain authorization from the Hellenic Capital Market Commission. You will need to meet capital requirements and ongoing compliance obligations as dictated by law.
Yes, foreign investors can participate in Greek funds. Most fund structures in Greece are open to both local and international investors, subject to local regulations and applicable EU laws.
The main types of funds are UCITS (Undertakings for Collective Investment in Transferable Securities) and Alternative Investment Funds (AIFs), each with distinct regulatory frameworks regarding investor eligibility, investment strategies, and risk profiles.
The primary regulator is the Hellenic Capital Market Commission (HCMC), which oversees licensing, operation, and compliance of asset managers and investment funds throughout Greece.
Yes, extensive investor protection rules apply. These include requirements on disclosure, transparency, risk management, and segregation of clients’ assets from company assets to ensure investors’ rights are safeguarded.
Funds and asset managers must regularly submit reports and disclosures to the HCMC, including financial statements, investment activity reports, risk assessments, and information to be communicated to investors.
Taxation depends on the fund type, investment strategy, and investor status. Common taxes include income tax, capital gains tax, and withholding tax, though some exemptions and incentives are available under certain conditions.
Disputes can be addressed internally through formal complaints procedures and, if unresolved, can be escalated to Greek courts or alternative dispute resolution mechanisms such as mediation or arbitration, as provided for in contracts or local law.
Yes, marketing rules are strictly regulated. Only authorized entities may market funds, and all marketing materials must comply with both Greek and EU laws on financial promotion, transparency, and fair presentation of investment information.
Asset managers face ongoing compliance duties, including regular reporting, robust internal controls, anti-money laundering checks, proper client onboarding procedures, and adherence to risk and liquidity management standards.
If you need more information or guidance, the following organizations may be helpful:
If you require legal assistance in the area of funds and asset management in Athens:
Taking these steps will help you navigate the complex legal environment of funds and asset management in Athens, Greece, and ensure your interests are well protected.
