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Index > Settling In > Business
| Business in Crete |
Opening a Business in Crete
There are a number of opportunities for buying or starting a business in Crete;
popular businesses include bars, tavernas, shops or a hotel/apartment complex.
Local Crete estate agents advertise businesses for sale on the web so that’s a
good place to start your search, and there are also business listings for sale on
our website forum
Whether you are setting up a business from scratch or purchasing an existing
business you should employ the services of a Greek lawyer and a local
accountant to advise you on the legalities, liabilities and taxes.
Opening your own business takes time and determination – finding premises,
registering the business at the chamber of commerce, the tax office, the national
insurance office and applying for operational licences (if required) - but it can be
achieved with the help of a local lawyer and accountant who will guide you
through the whole process.
Most small businesses make a steady income but don’t expect to make a small
fortune. The tourist orientated businesses in Crete resorts close during the
winter months. Rarely do summer businesses make enough money to see the
owners comfortably through the winter months when they close. Generally the
most successful businesses are those that are in a position to cater to the needs
of tourists and locals with a year-round clientele.
Self Employed
Professionals and tradesmen must register with the appropriate professional or
trade organisation to operate legally in Greece. For help with getting
qualifications recognised and translated go to any KEP Centre (citizens service
centre) or lawyer.
In many trades a course and an exam in Greek must be undertaken, irrespective
of whether you have the equivalent or higher qualifications from another
country, in order to legally work a trade in Greece.
You should use the services of a local accountant to register, and you will need
his services year-round as a self employed individual to deal with national
insurance contributions, VAT and taxes.
Due to the hassle and expense for tradesmen and professionals to become
legally self employed many non Greek tradesmen and professionals practice their
trade 'off the books', particularly amongst the expatriate community. Others
prefer to be legitimately employed as helpers by Greek tradesmen.
General
There are a number of opportunities for buying or starting a business in Crete;
popular businesses include bars, tavernas, shops or a hotel/apartment complex.
Local Crete estate agents advertise businesses for sale on the web so that’s a
good place to start your search, and there are also business listings for sale on
our website forum
Whether you are setting up a business from scratch or purchasing an existing
business you should employ the services of a Greek lawyer and a local
accountant to advise you on the legalities, liabilities and taxes.
Opening your own business takes time and determination – finding premises,
registering the business at the chamber of commerce, the tax office, the national
insurance office and applying for operational licences (if required) - but it can be
achieved with the help of a local lawyer and accountant who will guide you
through the whole process.
Most small businesses make a steady income but don’t expect to make a small
fortune. The tourist orientated businesses in Crete resorts close during the
winter months. Rarely do summer businesses make enough money to see the
owners comfortably through the winter months when they close. Generally the
most successful businesses are those that are in a position to cater to the needs
of tourists and locals with a year-round clientele.
Self Employed
Professionals and tradesmen must register with the appropriate professional or
trade organisation to operate legally in Greece. For help with getting
qualifications recognised and translated go to any KEP Centre (citizens service
centre) or lawyer.
In many trades a course and an exam in Greek must be undertaken, irrespective
of whether you have the equivalent or higher qualifications from another
country, in order to legally work a trade in Greece.
You should use the services of a local accountant to register, and you will need
his services year-round as a self employed individual to deal with national
insurance contributions, VAT and taxes.
Due to the hassle and expense for tradesmen and professionals to become
legally self employed many non Greek tradesmen and professionals practice their
trade 'off the books', particularly amongst the expatriate community. Others
prefer to be legitimately employed as helpers by Greek tradesmen.
General
- Once you register a business or as self employed you are obliged to make
monthly contributions to the National Insurance fund for the self
employed, OAEE / TEBE (pronounced Te-Veh), or TAE – the Merchants fund.
- Running a bar or taverna can mean very long hours and hard work with
little time to enjoy the lifestyle that you are probably moving for.
- For any business dealing with food and drink the owner and staff must
undertake a series of health checks and obtain a health certificate / book.
Index > Settling In > Business
Forum
| Related Links: Working in Crete National Insurance/IKA Tax |
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