Ease of Business in Greece
• Category: NewsAccording to the Doing Business 2009 Report, Greece has improved its overall Ease of Business index, moving up to rank 96 (from 106 in 2008).
Greece cut the minimum capital requirement to start a business by 80%, reduced capital tax and made publication of company statutes quicker. It also introduced electronic payment of social security tax, and passed a new bankruptcy law that is expected to allow more companies in distress to emerge as going concerns. Finally, Greece strengthened director accountability by making it easier for shareholders to sue directors for damages caused by related-party transactions.
The Doing Business Report, published by the World Bank Group, is tracking reforms aimed at simplifying business regulations, strengthening property rights, opening up access to credit and enforcing contracts in 181 economies. Greece's areas of reform were: Starting a Business, Protecting Investors, Paying Taxes, Closing a Business.
Posted by: Greeka.com on Sep 23, 2008