Corporation

Businessmen can expand their companies on foreign markets through several options. For instance, they may register one of the legal entities that are available on those markets; however, they may also opt to incorporate a branch office or a subsidiary, which are two types of business structures that are especially designed for foreign companies expanding on foreign markets.

The operation of the new Public Holdings Company (EDIS), the subsidiary of state assets hyperfund EESYP which is supposed to directly control all state corporations until they are sold through the hyperfund, is far from certain, even though its creation was provided by law when EESYP was established.

The rules of disengagement for the government from the operation and management of state-owned corporations and the extent of the influence governments will have over them thereafter are two of the key issues in the talks between Athens and its creditors.

The government is keen to keep a tight grip on state corporations, which is why the transfer of such companies to the new hyperfund for state asset utilization, officially titled Hellenic Holdings and Properties Company SA, has been allowed to drag on. The transfers are a part of the framework of the second review of the third Greek bailout program.

The general assembly of Greece?s Public Power Corporation on Friday approved the appointment of new governing board members, but the election of the new chief executive officer has been postponed until Tuesday.

The National Integrity Agency (ANI) has asked the Supreme Court of Justice and Cassation (ICCJ) for earlier consideration of the incompatibility case regarding national leader of the National Liberal Party (PNL) and presidential candidate Klaus Iohannis.

By Prokopis Hatzinikolaou

The government is planning to ease the tax burden on corporations as part of a drive to rekindle growth by increasing foreign investment and encouraging domestic entrepreneurship.

By Chryssa Liaggou

The liberalization of the local retail market for natural gas is the main priority of the new administration at the Public Gas Corporation (DEPA), as the country’s creditors are expecting the Environment and Energy Ministry to submit the bill on the necessary changes next month.

Market observers see a drive to ‘cleanse’ the governing board of Piraeus Port Authority (OLP), and particularly its president, Giorgos Anomeritis, who has reacted against the sell-off process.

by Vangelis Mandravelis

More than half of Bulgaria's companies were inactive in 2013, shows data of the National Revenue Agency (NRA), based on the corporate tax declarations. 

So far 50 600 Bulgarian companies have filed their declarations for 2013. Of them 27 000 declared profits, while the rest declared that they didn't do any business.