Best Venture Capital Lawyers in Mykonos

1. About Venture Capital Law in Mykonos, Greece

Venture capital law in Mykonos, like the rest of Greece, operates under Greek national statutes and European Union directives. Investment funds and managers must comply with the Greek regime for alternative investment funds (AIFs) and their managers, as well as EU equity and disclosure rules. This means cross border partnerships, fund formation, and investor protections follow both national law and EU directives.

In practice, most venture capital activity in Mykonos involves Greek or international venture capital funds that target Greek startups or tourism related ventures. Greek courts and regulators apply standard corporate, securities, and contract law to venture deals, alongside EU rules on transparency and risk management. Local counsel commonly coordinates with Athens offices to ensure regulatory compliance for fund formation, private placements, and reporting obligations.

Greece transposed the EU Alternative Investment Fund Directive into national law through Law 4099/2012, creating a framework for AIFs and their managers.

The Greek regulatory framework aligns with EU disclosure and governance standards under EU regulatory schemes for investment funds, including SFDR disclosures for sustainability.

2. Why You May Need a Lawyer

• Forming a Greek venture capital fund to invest in Mykonos startups. You need counsel to draft the fund’s constitutive documents, select an appropriate vehicle (AIF, IKE, or AE), and navigate licensing with the competent authority. A lawyer helps ensure the fund is compliant from inception and meets ongoing AIFMD requirements.
• Negotiating a seed or growth investment with a Mykonos tourism tech startup. You require robust term sheets, shareholder agreements, and anti-dilution protections that fit Greek corporate law and investor expectations. An attorney can structure governance and exit rights to suit both local and cross-border investors.
• Structuring cross-border investments into Greece. If a foreign fund or investor participates, you need cross-border tax planning, anti-money laundering checks, and regulatory coordination. A local lawyer coordinates with foreign counsel to ensure compliance in both jurisdictions.
• Complying with EU sustainability and disclosure rules for funds operating in Greece. The Sustainable Finance Disclosure Regulation (SFDR) imposes transparency obligations on funds marketing in the EU. Legal counsel helps prepare the required pre-sale and ongoing disclosures.
• Raising funds in Mykonos that target real estate or hospitality ventures. You must address valuation, security interests, and regulatory approvals for investments in assets that may be sensitive to local zoning or tourism regulations. A lawyer facilitates due diligence and closing mechanics.
• Disputes or enforcement related to a venture transaction in Mykonos. If a dispute arises over governance, distributions, or exits, counsel can guide you through arbitration or court proceedings under Greek procedural rules and enforceability considerations in EU markets.

3. Local Laws Overview

The following laws and regulations shape venture capital activity in Greece, including Mykonos. They reflect both national administration and EU integration relevant to fund structures, governance, and disclosure.

• Directive 2011/61/EU on Alternative Investment Fund Managers (AIFMD) - Transposed into Greek law to regulate managers and funds that operate as AIFs. This directive establishes licensing, capital requirements, and supervisory oversight for fund managers. Effective adoption in Greece began around 2012-2013 as part of national implementation.
• Law 4099/2012 on Alternative Investment Funds and their Managers - Greek national framework implementing AIFMD provisions for Greek AIFs and their managers. This law governs fund formation, marketing, notification, and ongoing regulatory obligations. It remains the core legal baseline for venture capital funds in Greece.
• Regulation (EU) 2019/2088 (SFDR) on Sustainability-related Disclosures - Applies in Greece to investment funds, requiring disclosure on sustainability risks and impacts. National and Greek-registered funds must publish disclosures and consider sustainability in their investment processes. The rollout began in 2021 and continues with ongoing guidance and implementation in member states.

In Mykonos, practical implications include choosing the right fund vehicle, determining whether to register as an AIF, and complying with ongoing reporting, risk management, and marketing rules. Local activity often involves coordinating with Athens-based offices and regulators to ensure smooth licensing and operations. For up-to-date regulatory interpretation, consult official sources and seek advice from a qualified Greek or international law firm with AIFMD experience.

For authoritative, jurisdiction-specific guidance, you can review official government and international resources, such as the Greek government portal and OECD country profiles. Gov.gr provides access to national regulations and amendments, while the OECD offers comparative market insights for Greece's venture capital ecosystem.

Gov.gr official portal for regulatory acts and administrative procedures: https://www.gov.gr

4. Frequently Asked Questions

What is venture capital law and why does it matter in Mykonos?

Venture capital law governs the formation, operation, and regulation of funds and investments in startups. It matters in Mykonos because funds must comply with AIFMD, marketing rules, and local corporate law when investing in island-based ventures.

What is an Alternative Investment Fund (AIF) and who regulates it in Greece?

An AIF is a pooled investment vehicle for investing in assets other than traditional stocks and bonds. In Greece, AIFs and their managers are regulated under Law 4099/2012 and supervised to ensure compliance with AIFMD requirements.

How do I start a venture capital fund in Greece?

Start by selecting a fund vehicle (AIF, IKE, or AE), draft governing documents, and obtain regulatory authorization if applicable. You will also set up NAV calculation, reporting, and compliance policies, coordinating with the Hellenic regulator as needed.

What documents are typically needed to form a Greek venture fund?

Key documents include the fund constitution, investment policy, risk management framework, governance agreements, and subscription agreements. You will also prepare disclosures and regulatory notifications required under Greek law.

How long does it take to obtain regulatory approval for a Greek AIFM or fund?

Approval timelines vary by complexity and regulator workload. Typical preliminary filings can take several weeks to a few months, with diligence on corporate structure and compliance checks guiding final authorization.

Do I need to hire a Greek lawyer for a venture capital deal in Mykonos?

Yes. A local counsel helps navigate Greek corporate law, fund formation, AIFMD requirements, and cross-border disclosures. They can also coordinate with foreign counsel on international deals.

What are typical costs when hiring a venture capital lawyer in Mykonos?

Costs vary by matter scope and law firm size. Expect hourly rates for mid-size firms and fixed-fee arrangements for discrete tasks like due diligence or contract reviews. Get a written engagement letter with a clear scope and fee schedule.

Can foreign investors participate in Greek venture capital funds?

Foreign participation is common, but it requires regulatory compliance, potential tax considerations, and appropriate disclosures. A Greek lawyer can structure cross-border investments to meet both local and foreign requirements.

What is the difference between venture capital and private equity in this context?

Venture capital typically targets early-stage, high-growth startups, while private equity focuses on mature companies. Greek law applies similar fund-based structures to both, but investment strategy, risk, and regulatory disclosure can differ by stage.

What should I know about term sheets and governance in Greece?

Term sheets should specify liquidation preferences, anti-dilution, shareholder rights, and board control in line with Greek corporate law. Clear governance terms help prevent disputes and facilitate smooth exits.

Is there a specific form of corporate entity favored for VC funds in Greece?

Common options include private companies with limited liability or investment vehicles recognized under Greek corporate law. Counsel will tailor the choice to tax considerations, investor requirements, and regulatory needs.

What is the process to register an AIF in Greece?

The process involves establishing the fund, appointing a compliant manager, preparing required disclosures, and filing with the appropriate regulator. Expect diligence on investment policy, risk management, and marketing activities.

5. Additional Resources

• Gov.gr - Official Greek government portal for laws, regulations, and public procedures. It provides access to national acts and regulatory updates relevant to venture capital and fund formation. https://www.gov.gr
• European Investment Fund (EIF) - EU entity that supports venture capital and growth financing in Europe, including Greece. It offers information on fund instruments, guarantees, and partnerships that may affect local venture capital activity. https://www.eif.org
• Organisation for Economic Co-operation and Development (OECD) - Greece - Provides analysis and statistics on Greece's startup ecosystem and venture capital environment. https://www.oecd.org/greece/

6. Next Steps

1. Define your goals and investor profile. Clarify whether you want to form an AIF, raise a fund, or secure a direct investment. This shapes the legal path and documentation you will need.
2. Consult a Greek venture capital lawyer with AIFMD experience. Schedule an initial consultation to review your business plan, fund structure, and timelines. Request a written engagement letter and fee estimate.
3. Draft a preliminary term sheet and investment policy. Work with counsel to outline governance, liquidation preferences, and exit mechanisms that comply with Greek law.
4. Choose a fund vehicle and regulatory approach. Decide between an AIF and other structures, considering marketability to Greek and international investors. Your lawyer can coordinate with regulators as needed.
5. Prepare and file the necessary regulatory notices. Your counsel will assemble the registration documents, disclosures, and supporting agreements required for approval.
6. Carry out due diligence and close the first investment. Align diligence activities with Greek corporate law, AIFMD requirements, and cross-border considerations if investors are foreign.
7. Plan ongoing compliance and reporting. Establish governance, risk management, and SFDR disclosure processes for ongoing operations and marketing activities.