Greece - Joint Ventures/LicensingGreece - Joint Ventures/Licensing
Licensing agreements have to be filed with the Industrial Property Organization and Greek tax authorities. All procedures for payment and transfer of royalties to EU and non-EU residents are handled by commercial banks operating in Greece.
U.S. firms should be aware that royalties are subject to a 20% withholding tax until the Greek company submits IRS tax forms obtained by the U.S. company showing residency in the U.S.
For more information, please link to the IRS Application for United State Residency Certification
Public tenders may have a stipulation that foreign bidders must submit their offers in a venture with a local company. In major projects, the utilization of local resources, (engineering services, manpower supplies, manufacturing, or assembly), is an important factor in bid evaluations. Foreign, as well as local bidders must quote and accept payment in Euro, unless otherwise specified in the tender documents. 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.
U.S. firms should be aware that royalties are subject to a 20% withholding tax until the Greek company submits IRS tax forms obtained by the U.S. company showing residency in the U.S.
For more information, please link to the IRS Application for United State Residency Certification
Public tenders may have a stipulation that foreign bidders must submit their offers in a venture with a local company. In major projects, the utilization of local resources, (engineering services, manpower supplies, manufacturing, or assembly), is an important factor in bid evaluations. Foreign, as well as local bidders must quote and accept payment in Euro, unless otherwise specified in the tender documents. 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.