The establishment of foreign companies in Greece with particular reference to the compliance by Greece with EC law

Abstract

This thesis deals with the conditions for the recognition and establishment of branches, agencies, off-shore units and subsidiaries of foreign public companies limited by shares in Greece. The relevant Greek laws are analysed in the first chapter, whereas chapter two deals with the comparative analysis of the Greek regime with the relevant provisions of EC law. In the third chapter (which is of particular interest due to the lack of relevant bibliography) reference is made to special Greek laws, that impose limitations on the activities of foreign companies in Greece, thus hindering their free establishment. Chapter four is devoted to the presentation of Greek law on the establishment of foreign maritime companies and the comparative analysis of the Greek regime with the regulations of the Treaty of Rome on this sphere. This analysis was considered necessary due to the vital importance of maritime companies and trade for the Greek economy and the particularly restrictive Greek regime on the establishment of foreign companies. Having concluded that Greek law violates the relevant EC regulations, an attempt is made to provide answers to the following questions: why did the EC fail to enforce its regulations in Greece and what is the protection offered to foreign companies that are prohibited from establishing there. The results of the thesis justify this research. Greece does not comply with EC law on the establishment of foreign companies. Furthermore, the enforcement of EC law in Greece seems impossible both on a Community and a national level. I only hope that the publication of more relevant analyses on the laws of member states will persuade the respective EC and national authorities that the passing of EC legislation does not suffice for the unification of Europe and the successful realization of the European ideal.