Greece is a democratic and developed country with an advanced high-income economy, strategically located at the crossroads of Europe, Asia, and Africa. Greece is a member of the European Union and of the Economic Monetary Union.
Greece has a service oriented ecomony, with important industries being tourism, food and tobacco processing, textiles, chemicals, metal products. In 2009, Greek ecemony suffered a severe financial crisis resulted from a combination of domestic and international factors.
Withholding tax rates in Greece are 0.0-15.0 %. Greece signed 56 double taxation agreements.
Greece signed the automatic information exchange agreement on 29 October 2014 and committed to start the automatic information exchange in September 2017.
Greece agreed in substance to use FATCA on 30 November 2014 (Intergovernmental Agreement Model 1): the text of the IGA has not been released and financial institutions operating in Greece are allowed to register on the FATCA website consistent with the treatment of having an IGA in effect provided that Greece continues to demonstrate firm resolve to sign the IGA as soon as possible.
Greek banking system consists of four domestic systemic banks, several regional cooperative banks and foreign-controlled banks.