Talent Wiki - Greece

Your quick guide on talent and labor compliance norms in Greece

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Capital

Athens

Currency

Euro (EUR)

Languages

Greek, Macedonian, Albanian, Turkish

Payroll Frequency

Monthly

GDP per Capita

$23,900

Employer Tax

24.33%

Supplementary Guide for Employment and Expansion in Greece

Talent Overview

Greece is a developed country with an advanced high-income economy. As the largest regional investor in the Balkan region, Greece focuses on the service sector, which comprises 85% of the total economy. Service workers, professionals, technicians, shop and market sales workers are in great demand. Tourism is the most significant sector providing jobs and contributing to Greece's economy.

Major economic hubs:

‍Athens, Thessaloniki, Patras, Heraklion

Skills in demand:

‍Software Engineers, Medical practitioners, Accountants, Food processing, Language teachers, Shipping-industry related skills, Renewable energy sector skills.

Local Universities

The top local universities of Greece with world rank are:

National and Kapodistrian University of Athens

RANKING

Greece : 1

World : 224

Aristotle University of Thessaloniki

RANKING

Greece : 2

World : 249

National Technical University of Athens

RANKING

Greece : 3

World : 370

University of Patras (incl. University of Western Greece)

RANKING

Greece : 4

World : 539

University of Ioannina

RANKING

Greece : 5

World : 625

Salary Data

Job designation	Average salary (EUR)	Average Salary (USD)
Accountant	1580	1,719.19
Software Engineer	2330	2,535.10
Business Analyst	2770	3,013.93
Sales Manager	3890	4,232.20
Project Manager	3000	3,263.90

Talent Sourcing Tips

Top Local Job Boards:

Kariera, JobFind, Jobs in Greece

Number of LinkedIn users:

1.90 million

Multiplier Recruitment Partner

iXceed

Employing in Greece

Labor laws in Greece follow the basic principle of equal treatment of the employees, and any direct or indirect discrimination is strictly prohibited. Employers planning to hire from Greece need to manage payroll, benefits and compensation, taxes, leaves, and other regulated criteria for their Greek employees.

Employee Contract

Except for some specific cases, it is not mandatory to have an employment contract in writing. The employment details are documented, specifying the employer, employee, tenure, type of employment, and other conditions applicable to the employee during the working term in the organization. The information can be compiled in English and Greek (or any other local language) to ensure transparency and clarity on the terms and conditions.

Probation period

The probationary period followed in Greece is from one month to an year.

Public and Provincial Holidays

Date	Name	Type
Jan 1	New Year's Day	De facto Holiday
Jan 6	Epiphany	De facto Holiday
Mar 7	Clean Monday	De facto Holiday
Mar 25	Greek Independence Day	National Holiday
Apr 22	Orthodox Good Friday	De facto Holiday
Apr 25	Orthodox Easter Monday	National Holiday
May 1	Labor day	National Holiday
May 2	Day off for labor day	National Holiday
Jun 13	Orthodox Holy Spirit Monday	De facto Holiday
Aug 15	Dormition of the Holy Virgin	National Holiday
Oct 28	The Ochi day	De facto Holiday
Dec 25	Christmas Day	National Holiday
Dec 26	Synaxis of the Mother of God	National Holiday

Employee Leaves

Type of leave	Time Period	Mandatory
Annual leave/Earned Leave Leave	20 days	Yes
Sick Leave	30 days	Yes
Maternity Leave	17 weeks	Yes

Payroll

Payroll Cycle

The payroll cycle followed is monthly.

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Minimum Wage

The minimum wage in Greece is 663 EUR per month.

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Overtime Pay

Weekly overtime for employees is limited to a maximum of 48 hours. Each additional working hour is paid at 120% of basic pay for the day and 125% for the night.

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Health Examination Clause

Bonus

13th Month Pay

The 13-th month pay is mandatory in Greece and has to be paid on Christmas, Easter, and summer vacation.

Employee Benefits

~Pension Fund
~Health Care
~Supplementary Insurance
~Easter bonus
~Holiday bonus
~Christmas bonus
~Vacation leave

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Taxes

Employer Payroll Tax

Employers contribute 22.54% of the employee’s income towards their social security contribution. Below is the breakdown:

Payroll item	Tax contribution
Pension Fund	13.33%
Health Care	4.3%
Health in Benefit	0.25%
Supplementary Insurance	3.25%
Additional Contribution	1.41%
Total Employer Cost	22.54%

Employee Payroll Tax

Employees contribute 14.12% of their income towards social security contributions. Below is the the breakdown:

Payroll item	Tax contribution
Pension Fund	6.67%
Health Care	2.15%
Health in Benefit	0.4%%
Supplementary Insurance	3.25%
Additional Contribution	1.65%
Total Cost on Employee	14.12%

Employee Income Tax

Annual Income Group (EUR)	Income Tax
0 - 10,000	9%
10,001 - 20,000	EUR 900 + 22% over EUR 10,000
20,001 - 30,000	EUR 3,100 + 28% over EUR 20,000
30,001 - 40,000	EUR 5,900 + 36% over EUR 30,000
Above 40,000	EUR 9,500 + 44% over EUR 40,000

VAT

‍The standard VAT rate in Greece is 24%.

Offboarding & Termination

Termination Process

The employer can terminate the employment contract by giving a notice or paying in lieu of notice. The employee can also terminate the contract by giving notice to the employer.

Notice Period

During the probationary period, the notice period is from 1 to 30 days, and for permanent employees, it ranges from one to four months.

Severance Pay

In Greece, the severance pay depends on the employment term with the company. In case the employer does not give the necessary notice, the pay is doubled.‍

Visa and Immigration

For a foreigner to work in Greece for over 90 days, one must get a Type D visa. Also, a work permit has to be obtained within 30 days once the employee arrives in the country. Usually, work permits one year validity, which has to be renewed before 60 days of the expiry date.

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Talent Wiki - Greece

Supplementary Guide for Employment and Expansion in Greece