New law will allow firms to be set up in as little as a day, says PM

Legislation that will simplify the process for setting up a business in Greece was unveiled by Prime Minister Antonis Samaras and Development Minister Costis Hatzidakis on Monday.

The two men said that the legislation, which is to be put to public consultation, would allow new companies to be formed in as little as one day.

According to Hatzidakis, the stages through which a new business in the industrial sector would have to go through in order to start operating would be reduced from 21 to seven.

“This harmonization will help bring growth through business activity,” said Samaras, who added that the new legal framework would help Greece become “business-friendly”.