Expertise

On 11.04.2025, new law 5193/2025 (Law 5193) was published bringing significant changes to the Greek capital market legal framework with the aim of making the Greek capital market more attractive to investors. Law 5193 entered into force on 11.04.2025, subject to specific provisions.Key amendments in line with the EU Listing Act: enhancing access to capital markets for small and medium-sized enterprises (SMEs) and simplifying the regulatory frameworkA. No requirement for prospectus for issuances below € 8 million: One of the most important amendments refers to the increase of the threshold for the total exchange value within the Union concerning public offers of securities, for which a prospectus is not required, from € 5 million to € 8 million. This legislative change aims to facilitate th...

On 10 April 2025, law 5193/2025 on strengthening of capital markets and other provisions (Law 5193/2025) was passed before the Hellenic Parliament. Chapter C of Law 5193/2025 finally adopts the provisions supplementing Regulation 2023/1114 on Markets in Crypto Assets Regulations (MiCAR) and of Regulation 2023/1113 on Transfer of Funds Regulation II (TFR II). Now, crypto-asset service providers may validly commence offering their services in Greece under MiCAR.MiCAR fully applicableMiCAR, directly applicable throughout EU member states, sets the applicable EU legal framework governing the offer to the public and admission to trading of crypto-assets and the provision of crypto-asset services by crypto-asset service providers, as well as the prevention of market abuse relating to crypto-asse...

On 11 April 2025, law 5193/2025 was published, establishing a legislative framework that provides Real Estate Investment Companies (REICs) with greater investment flexibility and modernised operations, while also imposing stricter supervision for the investors’ protection. This initiative helps to simplify procedures by eliminating bureaucratic obstacles, enabling REICs to flourish in the current dynamic market environment.Key changesIncreased minimum share capitalUnder new regime REICs are required to have a minimum share capital of €40 million, an increase from the threshold of €25 million of the previous law – which had been further increased to €29.35 million by virtue of Decision 7/249/2002 of the Board of Directors of the Hellenic Capital Market Commission. This updated requirement a...