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Euro is the official currency of Greece. Its currency symbol is €, EUR.
Estimated at 22.29% of employees salary
Greek is the official language of Greece
The population of Greece is 10.3 Million
Employees are paid monthly
To start growing your team in Greece, you must establish a local entity – including an account with a local bank, a local office and an address registered as a subsidiary. This allows you to manage payroll, tax, benefits and compliance for your employees, but can take several months. Emerald can hire and payroll your workers quickly and compliantly with their ‘ready to go’ entity. Make growing your team simple with Emerald as a global partner.
Emerald can hire and payroll your workers, quickly and compliantly with their ready to go entity. Make growing your team simple with Emerald as a global partner.
Hiring employees in Greece offers several advantages and challenges. On the positive side, Greece provides access to a well-educated and skilled workforce, particularly in fields such as engineering, finance, and technology. Additionally, Greece’s strategic location in Southern Europe can be beneficial for businesses looking to operate within the European Union, who have strongly backed Greece financially in recent years. However, there are notable challenges, including a complex and often bureaucratic labour regulatory environment that can be time-consuming and costly to navigate. Employment costs, including social security contributions and taxes, can be high, potentially impacting overall budget considerations. Furthermore, economic fluctuations and regional disparities in Greece can affect business stability and employee performance.
Hiring remotely in Greece can be highly advantageous due to the country’s access to a talented and diverse pool of professionals with strong skills in sectors like technology, finance, and creative industries. Remote work eliminates the need for physical office space, reducing overhead costs and providing flexibility in scaling the workforce. Greece’s favourable time zone for European operations allows for effective collaboration across the continent. Additionally, Greece offers a relatively lower cost of living compared to many Western European countries, potentially resulting in cost savings on salaries while still accessing high-quality talent. This approach also helps businesses avoid the complexities of local employment regulations and bureaucratic processes associated with setting up physical operations in Greece.
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| National Social Security Fund (Pension) | 13.33% |
| Auxiliary Insurance | 3.00% |
| Healthcare | 4.55% |
| Unemployment Fund (OAED) | 1.41% |
The first 12 months of employment are classed as the probation period where the employer can terminate the contract without any notice or severance pay.
Emerald Technology can onboard employees in Greece within 48 hours.
In Greece, restrictive covenants in employment contracts, such as non-compete, non-solicitation, and non-disclosure clauses, are subject to specific legal requirements and limitations:
Non-Compete Clauses: In Greece, non-compete clauses are enforceable but must be reasonable in terms of duration, geographical scope, and type of restricted activity. The maximum duration for a non-compete clause is typically 2 years following the end of employment. Additionally, the employer is required to provide compensation to the employee during the restriction period, which is usually around 50% of the employee’s last salary.
Non-Solicitation Clauses: Non-solicitation clauses, which prevent former employees from soliciting the company’s clients or poaching other employees, are permissible but must be clearly defined and reasonable. These clauses should not overly restrict the employee’s future career opportunities.
Non-Disclosure Agreements (NDAs): NDAs are enforceable in Greece to protect confidential information and trade secrets. However, the agreements must clearly specify what constitutes confidential information and the obligations of the parties involved.
Non-Disparagement Clauses: These clauses, which prevent employees from making negative statements about the employer, are generally enforceable if they do not infringe on freedom of expression or public interest.”
Health insurance is primarily managed by National Organization for Healthcare Services Provision (EOPYY) funded by social security contributions, and this covers a wide range of medical services. This is contributed to by both employers and employees, which means that they are covered, along with their spouses and dependent children.
Employers are required to contribute around 24.81% of their employee’s gross salary towards social security, depending on the sector, to cover pensions, health insurance, unemployment insurance, occupational accident insurance and any parental leave. Employee contributions are automatically deducted from their gross salary at about 15.75% for pension, health and unemployment insurance.
119-day leave (56 days before birth, 63 after). The first month is paid in full by the employer, from then on, the employer pays 50% and EFKA (Unified Social Security Fund) pays the remaining 50%.
Paternity Leave: 14 days within a month of the birth. The father cannot be dismissed for a 6-month period following the birth.
Up to 4 per year
First 15 Days: Employers typically cover the full salary during the initial 15 days of sick leave.
After 15 Days: For sick leave beyond 15 days, payment is managed by the social security system (EFKA). EFKA provides a portion of the salary, usually around 50% of the employee’s regular earnings, depending on insurance contributions and the specifics of the claim.
As the legal employer, Emerald Technology requires the following employee documents to ensure complete compliance:
When an employer dismisses an employee it must be with just cause and they must give them notice. The notice period starts from the day after the employer notifies the employee of the termination. Notice must be given in accordance with the following schedule at a minimum:
| Length of employment | Notice period |
| < 1 year | No notice needed |
| 1-2 years | 1 month |
| 3-5 years | 2 months |
| 6-10 years | 3 months |
| > 10 years | 4 months |
Employees in Greece are entitled to 26 days of paid leave per year.
Greece has 14 public holidays
New Year’s Day
Epiphany
Orthodox Ash Monday
Independence Day
Orthodox Good Friday
Orthodox Easter Sunday
Orthodox Easter Monday
Labour Day Holiday
Orthodox Whit Sunday
Orthodox Whit Monday
Assumption Day
Ochi Day
Christmas Day
2nd Day of Christmas
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