Best Venture Capital Lawyers in Chalandri

About Venture Capital Law in Chalandri, Greece

Chalandri is part of the Attica region near Athens, where many technology startups and small ventures seek capital from Greek and European funds. Venture capital activity in Greece operates under European Union directives and national laws administered by Greek authorities. The core framework centers on Alternative Investment Funds (AIFs) and their managers, coordinated through the Hellenic Capital Market Commission and the Ministry of Development and Investments. For a startup in Chalandri, understanding fund formation, investor protections, and ongoing reporting is essential to attract and maintain investment.

Directive 2011/61/EU on Alternative Investment Fund Managers aims to create a harmonised framework for AIF operations and manager supervision across the EU, strengthening investor protection.

Why You May Need a Lawyer

Concrete scenarios in Chalandri require legal counsel who understands both Greek and EU fund regimes. Here are real-world situations where a venture capital lawyer can make a difference.

1. Negotiating a seed or Series A term sheet for a Chalandri startup. A startup founder signs with a Greek or EU-based venture fund and needs robust term sheet terms, including stock structure, anti-dilution, liquidation preferences, and drag-along provisions tailored to Greek corporate law and AIFMD constraints.
2. Setting up an Alternative Investment Fund (AIF) and appointing a licensed manager. A local entrepreneur may choose to pool funds through an AIF; you will need counsel to draft the fund’s constitutional documents, subscription agreements, and fund management agreements compliant with Greek rules and EU directives.
3. Structuring cross-border investments into a Greek SPV. If a foreign VC uses a Greek special purpose vehicle to invest, you’ll require a lawyer to address cross-border tax planning, ownership transfers, and regulatory disclosure obligations.
4. Implementing employee share plans and option grants in Greece. Greek law imposes specific tax and securities considerations on stock options and equity compensation; legal advice helps design compliant plans and vesting schedules.
5. Nearing an exit or acquisition of a Chalandri start-up. You’ll need to negotiate exit mechanics, transfer restrictions, drag-along and tag-along rights, and waterfall distributions in a way that aligns with both Greek corporate law and investor expectations.
6. Navigating tax and compliance for a venture fund or portfolio company. Tax optimization, withholding, and local reporting requirements require counsel to prevent penalties and maximize legitimate incentives.

Local Laws Overview

Venture capital in Greece operates under EU frameworks as well as national statutes implemented in the Greek legal system. Below are key regulatory touchpoints you should know, with emphasis on practical impact for Chalandri residents.

Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD)

The AIFMD governs the marketing and management of alternative investment funds across the EU, including Greece. It sets requirements for fund managers, risk management, and disclosures to investors. Greek entities often rely on AIFMD-compliant structures when raising funds from European investors.

The AIFMD enhances investor protection and harmonises supervision of AIFs and their managers across member states.

Practical tip for Chalandri: if you plan to raise funds from EU-based investors, ensure any management company and fund structure align with AIFMD requirements and your local Greek registrations.

Greek Law on Alternative Investment Funds and Managers (Greek implementing framework)

Greece has implemented EU AIFMD through national provisions to regulate the creation, operation, and licensing of AIFs and their managers. This includes registration with the Hellenic Capital Market Commission and compliance obligations for ongoing reporting, investor disclosures, and governance standards.

Practical tip for Chalandri: engage a lawyer early in fund formation to ensure documentation, governance, and reporting meet Greek statutory requirements and EU expectations.

Greek Tax and Corporate Framework for Venture Capital Structures

Tax treatment of funds, carried interest, and portfolio companies in Greece is governed by the Greek Income Tax Code and related Greek tax authority guidance. Tax planning is essential for both the fund and portfolio companies, particularly for cross-border investments and employee equity plans.

Practical tip for Chalandri: coordinate with a tax advisor and a corporate attorney to optimise tax outcomes for fund structures and exits within Greece.

Frequently Asked Questions

What is venture capital law in Greece primarily based on?

It is based on EU directives, primarily the AIFMD, implemented through Greek national law and supervised by the Hellenic Capital Market Commission. This framework governs fund managers, funds, and investor protections.

How do I know if my Chalandri startup needs a fund or direct equity funding?

If you plan to pool investor capital, an AIF or similar fund structure may be appropriate. For single investors, direct equity rounds with clear term sheets can be simpler but still require Greek corporate compliance.

When should I engage a venture capital attorney during a funding round?

Start early in negotiation of term sheets and continue through closing, post-closing governance, and regulatory disclosures to avoid misalignment with AIFMD and Greek law.

Where can I find a lawyer experienced in venture capital in Chalandri?

Consult the Athens Bar Association directory and seek referrals from local startup incubators and the Ministry of Development and Investments for licensed counsel with fund experience.

Why is the AIFMD relevant to my Chalandri venture?

AIFMD influences how funds are managed, marketed, and supervised, particularly for cross-border investments and European investor participation).

Can a Greek fund offer tax advantages to portfolio companies?

Tax incentives depend on fund structure, domicile, and the Greek tax code; a tax attorney can tailor structures to maximise legitimate tax reliefs.

Should I use an SPV for foreign investments into Greece?

Using a Greek SPV can simplify tax and liability considerations and support governance alignment with Greek corporate law and fund rules.

Do I need to register my fund with the Hellenic Capital Market Commission?

Typically yes for AIFs or licensed fund managers; the HCMC oversees registration, ongoing supervision, and compliance obligations.

Is there a minimum capital requirement for venture funds in Greece?

Capital requirements vary by fund type and licensing regime; an attorney can confirm current thresholds and acceptable structures.

How long does it take to close a venture capital deal in Greece?

Typical cycles range from 6 to 12 weeks for domestic rounds, depending on diligence, documentation, and regulatory filings.

What is the difference between a seed round and a Series A in Greece?

A seed round usually involves smaller amounts and earlier-stage investors; Series A raises larger sums and includes more formal governance terms and preferred shares.

Do I need to consider AML and KYC when raising funds in Greece?

Yes. Greek and EU anti-money laundering and know-your-customer rules apply to fund managers and portfolio companies, including source-of-funds verification.

Additional Resources

Use these official sources for current rules, guidance, and contact points.

• Hellenic Capital Market Commission (HCMC) - Regulation and supervision of alternative investment funds and fund managers in Greece. https://www.hcmc.gov.gr
• European Commission - Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD) and its implementation across the EU. https://ec.europa.eu/info/business-economy-euro/banking-and-finance/investment-funds/alts-investment-funds-directive_en
• Ministry of Development and Investments - Greek regulatory framework for businesses and fund-related activities in Greece. https://www.mindev.gov.gr

Next Steps

1. Define your funding goal and timeline. Clarify whether you will seek a direct investment or a fund-based investment (AIF).
2. Gather core documents. Prepare a business plan, cap table, financial projections, and any prior term sheets or investor communications.
3. Identify potential counsel with Greek venture capital experience. Use the Athens Bar Association directory and local startup networks for referrals.
4. Schedule an initial consultation to discuss structure options (direct equity vs AIF) and regulatory implications under AIFMD.
5. Ask for a written engagement letter, a proposed scope of work, and a fee estimate before work begins.
6. Draft and review term sheets, shareholder agreements, and fund documents with your attorney. Ensure alignment with Greek corporate law and AIFMD requirements.
7. Plan for closing and post-closing compliance. Set governance, reporting, and investor communications timelines with your legal counsel.