Greece

Greece offers access to the entire European Union (EU) market with a Hellenic Capital Market Commission (HCMC) license, allowing you to reach a large client base.

The Greek economy is on the rise, and the FX and CFDs market is experiencing renewed interest, presenting growth potential. The HCMC enforces a regulatory framework for FX and CFDs brokers, ensuring investor protection and market stability. HCMC regulations are aligned with EU directives, providing a familiar framework for international brokers. The regulator is working to regain international confidence after past economic challenges and prioritizes investor protection by implementing strict regulations in the recent years.

Favorable Tax Environment: Greece offers a competitive corporate tax rate of 24%, with potential reductions for new businesses.
Skilled Workforce: Greece boasts a well-educated and multilingual workforce, with a growing talent pool in the financial services sector.
Cost-Effectiveness: Compared to some other EU countries, operating costs in Greece can be lower, making it a budget-friendly option.

Get in touch with us to learn more about Heaving a FX CFD license in Greece

Jurisdiction: Greece
Regulator: Hellenic Capital Markets Commission (HCMC)
License Name: Greek Investment Firm (AEPEY)
Products Allowed (CFD on all/certain assets): FX and CFDs
Activities Allowed (Broker/MM): Market Maker & Broker
Passporting: To all EU member states
Leverage Limitations: In place, per ESMA's rules
Structure requirements (#shareholders / director/officers, MLRO): 1 Shareholder; Local Company; Local Office; 2 Executive Directors (Local, Full-Time, Experienced); AML Compliance Officer (Local, Full Time, Experienced); Head of Operations/ Back Office; An additional employee might be required by the Regulator depending on the perceived Risk; Accounting/Payroll/Financial Audit (Can be Outsourced).
Basic requirements (business plan, website. demands from UBO, professional background: Detailed business plan incl. 3 years financial forecast; UBO to have several years of industry experience (or equivalent) and solid financial soundess and source of funds (must be able to show he can sustain the business for its initial years of operation); Executive Directors must have substantial experience in FX/CFDs and be approved by HCMC;
Local Physical Presence (Local Office and Local Staff): Local Company; Local Office; 2 Executive Directors (Local, Full-Time, Experienced); AML Compliance Officer (Local, Full Time, Experienced); Head of Operations/ Back Office; An additional employee might be required by the Regulator depending on the perceived Risk; Accounting/Payroll/Financial Audit (Can be Outsourced).
Insurance: Professional liability insurance is mandatory
Clients' Funds Segregation: Mandatory (must open 2 bank accounts - 1 Corporate and 1 for clients' funds)
Corporate Income Tax Rate: 22%
Minimum Capital Requirement: Broker – 150,000 EUR; Market Maker – 750,000 EUR
Time Frame for License Issuance (as of submission): 6-10 Months
Regulatory leniency level (basic, intermediate, complex): Complex
License Validity: No expiry date
Reporting Frequency (Monthly/Quarterly/Annualy): Periodic reports; AML and Compliance Reports; Annual Audited Financial Statements;

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