Best Funds & Asset Management Lawyers in Elliniko

About Funds & Asset Management Law in Elliniko, Greece

Elliniko is part of the Attica region and falls within the broader legal and regulatory framework of Greece and the European Union. Funds and asset management activity carried out in Elliniko is governed primarily by national law that implements EU legislation - most notably the UCITS regime for retail collective investment schemes and the Alternative Investment Fund Managers Directive - AIFMD - for alternative funds and managers. The Hellenic Capital Market Commission is the national regulator that supervises licensing, market conduct and investor protection across Greece. Practical steps for establishing a fund or asset management business in Elliniko follow the same national procedures as elsewhere in Greece, while local business registration, tax offices and municipal services are the points of contact for on-the-ground administrative formalities.

Why You May Need a Lawyer

Funds and asset management involves multiple legal risks and complex regulatory requirements. You may need a lawyer if you are planning any of the following -

- Setting up a fund vehicle or management company, including drafting constitutive documents and management agreements.

- Applying for a license or notifying the regulator for passporting and marketing to investors in Greece or other EU countries.

- Structuring cross-border fund distribution or working with non-EU investors or managers.

- Preparing or reviewing prospectuses, offering documents and key investor information documents to ensure regulatory compliance.

- Advising on compliance programs - governance, conflicts of interest, best execution, valuation, custody, and reporting obligations.

- Implementing anti-money laundering controls, know-your-customer processes and suspicious transaction reporting obligations.

- Handling tax structuring, withholding obligations and interacting with the Greek tax authorities.

- Managing disputes with investors, service providers, or regulators, including arbitration or court proceedings.

- Negotiating service agreements - custody, administration, prime brokerage, portfolio management and distribution contracts.

Local Laws Overview

The legal framework relevant to funds and asset management in Elliniko is national Greek law as shaped by EU directives and regulations. Key aspects to bear in mind include -

- Regulatory regimes - Greece implements the UCITS framework for retail investment funds and the AIFMD for alternative funds and their managers. These regimes set licensing, governance, capital and reporting requirements.

- Licensing and authorisation - Managers and certain fund types require authorisation from the Hellenic Capital Market Commission. The type of vehicle and investor target determine the regime to follow.

- Marketing and distribution - EU passporting is available for authorised managers and funds within the EU. Non-EU managers and funds must use national private placement regimes or third-country marketing rules as implemented by Greece.

- Investor protection - Disclosure, transparency and suitability rules apply to retail offerings. Professional-only or qualified-investor funds face lighter disclosure burdens but remain subject to governance and reporting rules.

- Corporate and contract law - Fund constitutive documents, management agreements, custody and service provider contracts are governed by Greek commercial and civil law principles, including duties of care and fiduciary-like obligations where applicable.

- Anti-money laundering - Funds and managers must implement AML/CTF procedures, customer due diligence and reporting to the national financial intelligence unit.

- Data protection - Processing investor data requires compliance with GDPR and Greek data protection requirements, including lawful bases for processing and data security measures.

- Taxation - Tax treatment of funds, withholding on distributions and investor tax obligations are governed by Greek tax law and any applicable double taxation treaties. Tax structuring is often decisive for fund design.

- Dispute resolution - Regulatory decisions are subject to administrative review and judicial challenge in Greek administrative courts. Commercial disputes frequently use civil courts or arbitration clauses agreed in contracts.

Frequently Asked Questions

How do I set up a fund in Elliniko, Greece?

Fund formation typically starts with choosing the appropriate vehicle and regulatory regime - UCITS for retail funds or an AIF vehicle for alternative strategies. You will need to draft the fund rules or prospectus, select a management company and service providers, satisfy capital and governance requirements and obtain authorisation or give required notifications to the Hellenic Capital Market Commission. Local business registration and tax registrations are handled through national authorities and the municipal offices in Elliniko for local administrative matters.

Do I need a Greek licence to manage funds from Elliniko?

If you manage funds or provide portfolio management to investors in Greece, you will usually need authorisation under the relevant Greek implementation of EU rules. EU-authorised managers can use passporting rights in certain situations. Non-EU managers must assess national rules for marketing to Greek investors and may require a local representative or use local private placement regimes.

How long does the licensing process take?

Timing depends on the type of licence, the completeness of the application and whether additional information is requested. Some authorisations can take several months. Preparation of a thorough application and close coordination with a lawyer or compliance adviser shortens delays.

What documentation is typically required for a fund application?

Common documents include the fund rules or prospectus, management company articles of association, business plan, governance policies, internal procedures - including risk management and AML policies - key personnel CVs, service agreements and evidence of initial capital or financial resources. All supporting documents should meet regulatory content and language requirements.

Can I market a Greek fund to investors in other EU states?

Yes, subject to passporting rules if the fund or manager is authorised under UCITS or AIFMD. Passporting allows cross-border marketing within the EU once the home regulator has been notified. For non-EU funds and managers, marketing in the EU is subject to each member state’s implementation of third-country marketing rules.

What are the main compliance obligations for fund managers?

Managers must implement governance structures, risk management, valuation policies, liquidity management, client reporting, record keeping, conflicts of interest policies and AML/CTF procedures. They must also meet ongoing reporting obligations to the regulator and to investors, and maintain required capital or professional indemnity arrangements.

How are investors protected under Greek law?

Investor protection is provided through disclosure obligations, suitability assessments for retail clients, segregation of client assets, custody rules and regulatory supervision. The Hellenic Capital Market Commission enforces market conduct rules and can impose sanctions for breaches.

What tax issues should I consider when establishing a fund in Greece?

Tax issues include the fund’s legal classification for tax purposes, taxation of distributions, withholding taxes, VAT treatment of management and administration fees, and the tax residence of investors. Double taxation treaties and EU directives can also affect structuring. Tax advice from a specialist is essential early in the structuring process.

What happens if there is a dispute with an investor or a service provider?

Disputes can be resolved through negotiation, mediation, arbitration or court proceedings depending on the contractual clauses. Regulatory sanctions are resolved through administrative procedures and may be subject to judicial review in administrative courts. A lawyer can advise on dispute resolution clauses and represent you in proceedings.

How much will legal and compliance support cost?

Costs vary by complexity, the scope of services and the experience of the lawyer or firm. Expenses include initial structuring and documentation, licence application work, ongoing compliance support and any litigation or dispute costs. Many firms offer phased or fixed-fee arrangements for common tasks like licence applications and drafting of standard agreements.

Additional Resources

Hellenic Capital Market Commission - the national regulator for investment funds and managers in Greece. It publishes guidance, application requirements and regulatory decisions.

Ministry of Finance - oversees tax policy and financial sector legislation that affects fund taxation and corporate matters.

Hellenic Financial Intelligence Unit - responsible for anti-money laundering supervision and receiving suspicious transaction reports.

Independent Authority for Public Revenue - Greek tax authority handling registrations, filings and tax questions for funds and managers.

General Commercial Registry - the public registry for company formation and filings in Greece.

Hellenic Exchange and market infrastructure providers - useful for funds intending to list or use exchange-related services.

Athens Bar Association and specialised law firms - for finding lawyers experienced in funds, capital markets and financial regulation.

Local municipal offices in Elliniko-Argyroupoli - for business permits, local registrations and municipal formalities when establishing a physical presence.

Next Steps

If you are considering fund or asset management activities in Elliniko, follow these practical steps -

- Gather your basic plans - investment strategy, target investors, vehicle preferences and operational model.

- Arrange an initial consultation with a lawyer experienced in Greek funds and EU regulatory frameworks - discuss licensing pathways, likely timelines and documentation needs.

- Conduct a compliance and tax review - identify AML, data protection and tax issues early and prepare the relevant policies and filings.

- Prepare corporate and fund documentation with legal counsel - prospectus, management agreements, service contracts and internal rules.

- Liaise with the Hellenic Capital Market Commission or other competent authorities as advised by your counsel - submit applications or notifications when ready.

- Select reputable service providers - administrator, custodian, auditor and local representatives where required.

- Plan for ongoing compliance - implement reporting, governance and monitoring systems and schedule regular legal and tax reviews.

If you need help locating a specialist lawyer in Elliniko, contact the Athens Bar Association or seek a law firm with specific experience in Greek funds, EU directives and regulatory practice. Early legal involvement reduces execution risk and improves the chance of a smooth launch and ongoing compliance.