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post #6 of Old 09-21-2004
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Starting a charter in Greece

Hi Gavin

There are some mistakes on sailmaster''s advise, under the newest Greek laws. These are:

1. You no longer need a 51% Greek partner, for as long you are a citizen of an EU country. You can issue the company 100% under your name.

2. Correct. Costs are about euros 150 per month. By doing that, you are actually entering in the Greek social security system (health and pention)

3. Correct.

4. Wrong. You no longer need to issue the vessel under Greek flag. You may perfectly well and legally charter her under your own country''s flag (again, this country must be an EU member).
The remarks a, b, c, d and e are correct and they apply to any flag your vessel is.

To summarise, you may charter your UK flagged, 100% owned by you vessel in Greece, but in order to do that you must follow the Greek laws regarding charter vessels and pay your taxes (for that business) in Greece.

Alexander Vournas
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