Greece - FranchisingGreece - Franchising
Though franchising is a popular form of business, there is no specific law governing franchising in Greece. Franchising is governed by Greece’s Commercial Code. The Franchise Association of Greece has voluntary Code of Ethics, based on the European Franchise Federation’s code, which is sometimes wrongly understood as law.
Rental fees for retail space may have decreased significantly in Greece, but some business people characterize rent for prime locations as too high. Additionally, due to growing concerns by property owners that any new store or business may not succeed, landlords may ask for large down payments sometimes in the form of “key-money” (an under the counter lump-sum payment at the time the lease contract is signed) to alleviate risk of losses from what could occur in the future.
More information on broader EU legislation can be found on the website of the European Franchise Federation Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.
Rental fees for retail space may have decreased significantly in Greece, but some business people characterize rent for prime locations as too high. Additionally, due to growing concerns by property owners that any new store or business may not succeed, landlords may ask for large down payments sometimes in the form of “key-money” (an under the counter lump-sum payment at the time the lease contract is signed) to alleviate risk of losses from what could occur in the future.
More information on broader EU legislation can be found on the website of the European Franchise Federation Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.