Branches or Offices of Foreign Companies dealing exclusively with:
- The Management of Vessels
- Average Adjustments/ Insurance Services
- Brokerage in the Sale and Purchase of vessels
- Sale and Purchase of vessels
- Chartering of Ships under Greek or Foreign Flag may be exempted from income taxation, despite having a permanent establishment in Greece, in exchange for their obligation to import foreign currency to finance their local operation.
It is mandatory for a Bank Guarantee from a Greek or a foreign bank of acknowledged standing to be deposited, which will be forfeited in favor of the Greek State in case of breach of the provisions of Law 89/67.
The Minimum of funds imported and spent on office expenses in Greece amount to USD 50.000,00.
They are entitled to the following facilities concerning the taxation, provided they are exclusively engaged in commercial activities whose objects lie outside Greece:
Total exemption of the Company from:
- Custom duties
- Import taxes
- Stamp duties
- Turnover tax
- Luxury tax and any other taxes, duties or charges in favor of the State;
- Total exemption from taxes, duties, or charges for any article necessary for equipping their office in Greece
- Exemption from income tax
The only Current Tax Liability is a tax that varies accordingly to the amount imported and spent in Greece.