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Agia Paraskevi is a suburb of Athens with easy access to the wider Greek startup and investment ecosystem. Venture capital activity in Agia Paraskevi is shaped by Greek and European law rather than by municipal rules, but local infrastructure - such as nearby universities, research centers and business services - supports founders and investors. Venture capital transactions in the area follow the same legal framework that governs deals across Greece: company formation and corporate governance rules, securities and fund regulation, tax law, intellectual property law and employment regulation. Investors and founders commonly work with local Athens-based law firms or in-house counsel familiar with both Greek and EU requirements.
Structuring an investment - Lawyers help choose the right legal vehicle for the startup and for the investor, taking into account liability, governance and tax consequences. Common entity choices in Greece include the Private Company - I.K.E., the Limited Liability Company - E.P.E., and the Public Limited Company - A.E.
Negotiating term sheets and investment agreements - Term sheets, shareholders agreements and subscription agreements contain key protections for investors and founders, such as valuation, liquidation preference, anti-dilution, vesting, board composition, pre-emption rights, tag-along and drag-along provisions. A lawyer negotiates and drafts these terms to reflect commercial intent and to reduce future disputes.
Regulatory compliance for funds - If you are setting up or managing a fund, you may be subject to EU fund rules and national regulation enforced by the Hellenic Capital Market Commission. Lawyers advise on licensing, marketing rules and on whether the Alternative Investment Fund Manager regime applies.
Intellectual property and data protection - Startups often rely on IP. Lawyers ensure ownership is clear, that key inventions and code are assigned to the company and that data handling complies with GDPR.
Employment and compensation - Setting up employee equity plans, drafting employment agreements and dealing with social security and termination rules are areas where legal advice reduces risk.
Tax planning - Investment structuring and exit planning raise tax questions for both founders and investors. Lawyers coordinate with tax advisors to manage corporate tax, VAT, withholding and capital gains issues.
Due diligence and closing - Lawyers run legal due diligence, identify deal-breakers, prepare closing documents and handle escrow arrangements and the transfer of shares or assets.
Dispute prevention and resolution - If conflicts arise, lawyers protect client rights and represent clients in negotiations, arbitration or court proceedings.
Company law - Greek company law sets out the rules for forming and running companies. The most common start-up entities are the I.K.E. - a flexible private company form well suited for small to medium ventures - the E.P.E. and the A.E. Corporate governance, capital requirements and shareholder rights are defined by statute and company articles.
Securities and fund regulation - Venture capital funds, fund managers and certain fund activities may be regulated under EU rules and local law. The Hellenic Capital Market Commission supervises capital markets and applies EU directives where relevant. Fund managers should verify whether they fall under the Alternative Investment Fund Manager rules and whether they must obtain authorization or passport marketing permissions.
Tax law - Greek tax rules apply to corporate profits, dividends, interest, royalties and capital gains. There are also tax regimes and incentive programs that may apply to innovative startups or research and development activities. Interaction with EU-funded programs can affect tax treatment. Always consult a specialist tax advisor for up-to-date, transaction-specific guidance.
Intellectual property and technology transfer - IP is protected under national law and EU regimes. Assignment of IP from founders or employees to the company should be clearly documented to preserve investor value. Licensing and open-source use need careful review.
Data protection - GDPR applies across Greece. Startups handling personal data must comply with GDPR requirements and with supervision by the Hellenic Data Protection Authority.
Employment and social security - Greek employment law provides strong protections for employees. Issues such as notice periods, severance, social security contributions and collective rights should be addressed early in hiring and when designing incentive plans.
Anti-money laundering and foreign investment - Investors and funds must comply with AML laws and customer due diligence. Certain foreign investments in strategic sectors may trigger additional regulatory review.
Contract law and dispute resolution - The Greek Civil Code governs contracts and remedies for breach. Parties frequently agree to arbitration or mediation clauses for cross-border or commercial disputes.
Local permits and registrations - While investment law is national, businesses must register locally with the General Commercial Registry - G.E.MI. - and with tax authorities. Municipal permits may be required for specific activities or premises in Agia Paraskevi.
Venture capital is private equity provided to early-stage, high-growth companies in exchange for equity or similar rights. In Agia Paraskevi the mechanics are the same as elsewhere in Greece: investors provide funding and often take active roles in governance. Deals are structured through equity, convertible instruments or SAFEs where permitted, and governed by Greek corporate and contract law.
Many startups choose the I.K.E. because it is flexible, allows simple capital contribution rules and can be tailored with shareholder agreements. Larger or more complex ventures sometimes use the A.E. where they need a more formal corporate structure. Choice depends on investor expectations, tax considerations and long-term exit plans. Legal advice is recommended before incorporation.
Convertible notes and SAFE-like instruments can be used in Greece, but their legal and tax treatment should be assessed carefully. Convertible debt that converts into equity must be drafted to comply with Greek company law and securities rules. SAFEs are less common and may need adaptation to local law. A lawyer will draft terms to avoid unintended tax consequences or corporate governance issues.
A shareholders agreement records investor and founder rights beyond the company articles. It typically covers governance, pre-emption and transfer restrictions, exit mechanics, dispute resolution and protective provisions for investors. It is crucial to set expectations and reduce the likelihood of costly disputes.
Tax issues include corporate tax on profits, capital gains tax on exits, withholding taxes on distributions, VAT in certain transactions and potential tax incentives for R&D or innovation projects. Cross-border investments raise additional considerations such as double tax treaties. Speak with a tax specialist working with your legal counsel for transaction-specific planning.
Setting up a fund may trigger EU and national rules, including possible obligations under the Alternative Investment Fund Manager framework. Fund type, investor base and marketing plans determine the licensing and compliance path. Fund formation usually requires coordination between lawyers, fund administrators and regulators.
Investors want clear ownership of core IP. Founders should assign inventions, software and other IP to the company, and employment or contractor agreements should include IP assignment clauses. IP due diligence should verify ownership and freedom to operate before investment.
Incorporation timelines vary. Using streamlined procedures and digital services can shorten the process to a few days for routine filings, but complex structures, capital requirements or regulatory permissions can extend the timeline. Allow additional time for opening bank accounts and registering with tax and social security authorities.
Startups collecting or processing personal data must document processing activities, have lawful processing bases, implement data security measures, create privacy notices and, where necessary, appoint a data protection officer. International data transfers require specific safeguards. Non-compliance can lead to significant fines, so early consultation is advisable.
Disputes are often resolved by negotiation, mediation or arbitration if agreed in the shareholders agreement. Courts are available, but litigation can be slow and expensive. Well-drafted shareholder agreements with clear exit mechanisms reduce the risk of prolonged disputes.
Hellenic Capital Market Commission - national regulator for capital markets and investment fund activities.
Hellenic Development Bank - supports funding and development programs for Greek businesses and has been active in fund-of-funds initiatives.
EquiFund and national innovation funding programs - government-backed initiatives that co-invest with private funds to support startups and scaleups.
Enterprise Greece - the national investment and trade promotion agency with information on incentives and programs for investors and exporters.
Hellenic Data Protection Authority - regulator for GDPR compliance in Greece.
Independent Authority for Public Revenue - AADE - for tax registration and obligations.
Athens Chamber of Commerce and Industry and the Municipality of Agia Paraskevi - for local business services, permits and networking opportunities.
General Commercial Registry - G.E.MI. - for company registration and public corporate records.
Local universities, technology transfer offices and accelerators in the greater Athens area - for talent, research collaboration and incubation support.
Prepare basic information - gather your business plan, capitalization table, founder contracts, IP records and any term sheets. This will speed initial consultations.
Identify the legal expertise you need - corporate transactions, tax, employment, IP and fund regulation are common specialities for VC deals. For funds, look for lawyers with AIFMD and local regulatory experience.
Shortlist local lawyers or firms - in Agia Paraskevi you will likely work with Athens-based firms. Ask about venture capital experience, sample documents and references. Request a clear engagement letter that explains fees and deliverables.
Schedule an initial consultation - use it to confirm scope, timeline and costs. Ask about coordination with tax advisors, fund administrators and local authorities.
Plan for diligence and timing - legal due diligence, regulatory filings and closing mechanics take time. Build realistic timelines and budget for legal, tax and administrative costs.
Keep records and communicate clearly - document decisions, maintain a clean data room and ensure regular updates between founders, investors and advisors.
If you prefer a low-risk start - consider an initial limited-scope engagement that addresses the most pressing legal items, then expand the mandate as the deal progresses. Early legal involvement reduces surprises and increases the chance of a smooth investment or exit.
