Best Venture Capital Lawyers in Kos

1. About Venture Capital Law in Kos, Greece

Kos is part of Greece and follows national laws that govern venture capital activity. The core framework combines Greek statutes with European Union directives, applied through the Hellenic Capital Market Commission (HCMC). Greek venture capital structures primarily operate as Alternative Investment Funds (AIFs) or their managers, under rules designed to supervise cross-border investments within the EU.

In practice, a Kos based startup seeking growth capital will encounter term sheets, shareholder agreements, and governance provisions that align with AIFMD requirements. Local entrepreneurs may also access funds headquartered in Greece or elsewhere in the EU, provided the funds comply with Greek licensing and reporting duties. For residents of Kos, understanding how EU directives interact with Greek corporate law is essential for compliant growth and investor confidence.

Recent trends show Greece actively aligning its market with EU standards to attract foreign capital, while improving transparency and investor protection. The European Commission emphasizes the goal of a unified market for investment funds with stronger supervision across member states.

AIFMD aims to increase transparency and supervision of private equity and hedge funds across the EU.

Source: European Commission - Investment funds

2. Why You May Need a Lawyer

A Kos based startup or fund often needs specialized legal help at key moments to avoid costly missteps and ensure regulatory compliance. Below are concrete scenarios that commonly arise in Kos and across Greece.

• Raising a funding round for a Kos based startup: Drafting and negotiating term sheets, cap tables, and shareholder agreements under Greek and EU law requires precise language to protect founders and investors. A lawyer helps align expectations and regulatory obligations.
• Setting up a venture capital fund or SPV to invest in Kos businesses: You will need guidance on fund formation, licensing with HCMC, and compliance with AIFMD. A counsel ensures proper fund documentation and investor disclosures.
• Structuring cross border investments into or from Kos: Cross border deals trigger multiple regimes, including AIFMD reporting, tax considerations, and anti money laundering controls. Legal counsel coordinates these requirements to minimize risk.
• Entering a merger, acquisition, or exit of a Kos portfolio company: Regulatory approvals, competition law considerations, and contract enforcement in Greece demand careful due diligence and precise drafting of sale documentation.
• Ensuring data protection and cybersecurity for portfolio companies: GDPR obligations apply to portfolio data shared during diligence and operations. A lawyer helps build compliant data processing records and incident handling plans.
• Tax and carried interest planning for fund executives: Complex tax rules apply to carried interest and fund distributions. An attorney or tax advisor can optimize structuring while remaining compliant.

3. Local Laws Overview

Venture capital activity in Kos is governed by a mix of EU directives, Greek national laws, and regulator driven rules. The key names below help anchor the legal framework you will encounter.

• Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD): This EU directive sets the core framework for oversight, transparency, and risk management of AIFs across member states. It shapes how funds may operate and market in Greece and the Greek Islands including Kos.
• Law 4099/2012 on Alternative Investment Funds and Managers (AIFMD transposition in Greece): Greece implemented the directive through this statute, creating the licensing, governance, and reporting requirements for AIFs and AIFMs. It remains subject to amendments to keep pace with EU updates.
• Hellenic Capital Market Commission Regulations on AIFs and AIFMs: The HCMC issues guidance, licensing rules, and ongoing compliance standards for funds and their managers operating in Greece, including those based in Kos. These regulations complement the statute by detailing procedures and supervisory expectations.

Recent changes emphasize enhanced transparency, cross border supervision, and robust risk management for venture capital activities. Greek authorities continue to refine reporting templates and capital adequacy standards to align with EU best practices.

The Greek framework emphasizes licensing, reporting, and anti money laundering controls for investment funds.

Source: HCMC regulations and Greek regulatory guidance

For residents of Kos, practical implications include ensuring your fund documents reflect AIFMD obligations, and confirming that cross border investors are properly identified and registered where required. Always verify the latest regulator guidance before launching a fund or closing a round.

4. Frequently Asked Questions

What is the primary framework governing venture capital funds in Greece?

Venture capital funds in Greece operate under the EU AIFMD framework as implemented by Law 4099/2012 and regulated by the Hellenic Capital Market Commission. This structure governs licensing, reporting, and governance of funds and managers.

How do I form a venture capital fund or SPV in Greece?

Start with a clear fund strategy, select a legal form suitable for Greek law, and obtain licensing from the HCMC if applicable. Draft comprehensive constitutional documents, an offering memorandum, and investor agreements to address governance and disclosures.

When did Greece implement the AIFMD framework?

The EU directive was implemented in Greece through Law 4099/2012, with ongoing updates to align with EU guidelines. National authorities regularly publish updated guidance for compliance.

Where can I find official guidance on AIF funds in Greece?

Official guidance is available from the Hellenic Capital Market Commission and the European Commission. The HCMC provides regulatory updates and licensing requirements on its site.

Why should a Kos based startup hire a venture capital lawyer early?

Early legal involvement helps structure the funding, protect equity ownership, and avoid later disputes. It also ensures compliance with AIFMD, data protection, and cross border investment rules.

Can a Greek venture fund invest outside Greece as part of a cross border strategy?

Yes, but this triggers AIFMD obligations and cross border regulatory requirements. A lawyer helps ensure compliance with licensing, reporting, and investor disclosure across jurisdictions.

Should I engage local Kos counsel for cross border VC deals?

Yes. Local counsel understands Kos specific business practices, language, and court procedures. They coordinate with international counsel to manage multi jurisdictional issues.

Do I need to register an investment fund in Greece?

Most funds targeting Greek or EU investors require licensing and registration under Greek law. An attorney can determine whether licensing is necessary and guide the process.

Is carried interest taxed in Greece under current regimes?

Carried interest and fund related distributions are subject to Greek tax rules, which may be complex for cross border arrangements. Consult a tax lawyer to optimize structure while staying compliant.

How long does due diligence typically take for a Kos VC deal?

Due diligence for a standard venture deal in Greece commonly takes 4 to 8 weeks, depending on target company complexity and data room readiness. Having organized documents accelerates this process.

What is the difference between a venture capital fund and a private equity fund in Greece?

Venture capital funds typically invest in early stage, growth oriented startups, while private equity funds target more mature companies. Both are subject to AIFMD rules and require appropriate licensing and governance.

What fees should I expect for venture capital legal services in Kos?

Fees vary by complexity and firm size, with common structures including hourly rates or fixed project fees for documents and negotiations. Request detailed retainers and milestone billing in advance.

5. Additional Resources

• Hellenic Capital Market Commission (HCMC) - The Greek regulator supervising investment funds and market integrity, including licensing, reporting, and ongoing compliance for AIFs and AIFMs. https://www.hcmc.gr/
• Ministry of Development and Investments - Responsible for national policy on investment, entrepreneurship, and the regulatory environment for startups and venture capital in Greece. https://www.mindev.gov.gr/
• European Commission - Investment Funds - EU level guidance on investment funds, AIFMD, and cross border fund marketing within the EU. https://ec.europa.eu/info/business-economy-euro/banking-and-finance/investment-funds_en

6. Next Steps

1. Define your funding needs and preferred fund structure, noting whether you will target Greek, EU, or cross border investors
2. Identify a qualified venture capital lawyer in Kos or with Greek regulatory experience who can coordinate with EU counsel
3. Request a preliminary consultation to review the business plan, cap table, and intended fund governance
4. Ask for a written engagement letter outlining scope, deliverables, timelines, and a transparent fee arrangement
5. Prepare a data room and investor disclosures to streamline due diligence for a potential round or fund formation
6. Confirm licensing and registration requirements with the HCMC if you plan to operate an AIF or manage investors
7. Sign a detailed term sheet and draft key documents with your counsel, including shareholder and investment agreements, governance charters, and disclosure schedules