Greece has a population of about 10 million people, with tourism and agriculture as the prominent industries. Companies doing business in Greece have many options for business structures based on the type of business.

Payroll and Tax Considerations:

  • Minimum wage in 2022 is 663 EUR per month
  • Standard work week is 40 hours and can be distributed over 5 or 6 days
  • Minimum working age is 15, and they must earn at least minimum wage
  • Employment contracts must be in writing, with hours and wages described in the contract and signed by both employer and employee
  • Tax rates vary between 9-44%. The highest rate of 44% applies to those who earn more than EUR 40,000
  • Foreign workers who are not residents of the EEA┬ámust apply for a visa, and then a work permit┬áto obtain a job in Greece

HR and Statutory Requirements:

  • Every employee on a fixed or permanent term contract is entitled to annual paid leave from the beginning of their employment on a pro-rated basis
  • Annual leave is calculated based on a 20 working days’ leave for a 5-day work week or 24 days’ leave for a 6-day work week
  • Employees are granted long-term sick leave for a maximum of 6 months depending on length of service
  • Employees also receive short-term unpaid sick leave up to 8 days per year
  • Female employees receive 17 weeks of maternity leave, 8 weeks must be taken prior to childbirth
  • Fathers receive paid paternity leave of 2 days upon birth of a child
  • The legal retirement age is 67 for men and 62 for women
  • The monthly retirement pension consists of basic pension and various increments of increase
  • Employees contribute 6.67% of their monthly income and employers contribute 13.33% of the worker monthly income

Holidays in Greece

  • January 1 – New Year’s Day
  • January 6 – Epiphany
  • March 7 – Clean Monday
  • March 25 – 25th of March – National Holiday
  • March 25 – Annunciation of the Lord
  • April 22 – Orthodox Good Friday
  • April 25 – Orthodox Easter Monday
  • May 1 – Labor Day / May Day
  • May 2 – Day off for Labor Day / May Day
  • June 13 – Orthodox Holy Spirit Monday
  • August 15 – Dormition of the Holy Virgin
  • October 28 – The Ochi Day
  • December 25 – Christmas Day
  • December 26 – Synaxis of the Mother of God

If you are just getting started in Greece, or need to improve operations, we can help. Our easy-to-use, cloud-based payroll platform with customized reporting gives you real-time access to your payroll across all countries and currencies. We have a dedicated US-based team and in-country experts to help when questions come up. Talk to us today and simplify your operations in Greece: Click here to get started