- Country Guide
- Greece
Greece
Last Update by Marta, 04 Oct 2024
You must log in to be able to download this document
Exchange Rate
10 Oct 2024
Cost of Living
Indicative value for a working adult in a city: Athens
Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff
| Living Requirement | Indicative Amount (EUR) |
|---|---|
| McDonalds Set Meal | 9 |
| Monthly Train and Bus Tickets | 30 |
| 3 Bedrooms Rental (City Center) | 1082 |
| 3 Bedrooms Rental (Outskirt) | 925 |
Current Inflation Rate
3%
Wage
Minimum Wages
- As of 1st April 2024
White-collar workers: 830,00 EUR per month
Median Salary
Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.
| Job Level | Monthly Salary (EUR) |
|---|---|
|
Entry-Level
Fresh Graduate
|
950 |
|
Mid-Level
5 Years
|
1500 |
|
Experienced & Managerial Level
10 Years
|
2450 |
|
Specialized & Senior-Level
15 Years
|
3100 |
Annual Salary Growth
5.5%
Statutory Contribution
The monthly social security contribution cap for EFKA is set at EUR 7,373.53
Country Level
| Type | Employer Rates | Employee Rates | Notes |
|---|---|---|---|
| Pension Fund |
13.33% |
6.67% |
All staff maximum earnings capped at 7373.53 per month |
| Supplementary Pension | 3.00% | 3.00% |
All staff maximum earnings capped at 7373.53 per month |
| Healthcare | 4.3% | 2.15% |
All staff maximum earnings capped at 7373.53 per month |
| Supplementary Healthcare in Benefit | 0.25% | 0.40% |
All staff maximum earnings capped at 7373.53 per month |
| Unemployment | 1.41% | 1.65% |
All staff maximum earnings capped at 7373.53 per month |
| Professional Risk | 1.00% | - | All staff |
| High Occupational Risk | 1.40% | 2.20% | All staff in certain industries |
Other Benefit
Other common employment benefits in Greece include:
- Private Insurance: 120 EUR per month
- Car Allowance: Around 50 EUR per month
- Meal Allowance: Around 75 EUR per month
- Gym Membership: 50 EUR per month
Income Tax
Residents
- Tax period: 1st January - 31st December
Country Level
| Taxable Income | Rate |
|---|---|
| Up to 10,000 | 9% |
| 10,001 - 20,000 | 22% |
| 20,001 - 30,000 | 28% |
| 30,001 - 40,000 | 36% |
| 40,001+ | 44% |
Non-residents
- Non-residents are taxed on Greek-source income only. The same tax rate applies.
-
A tax resident is an individual who meets one of following criteria:
- Residence in Greece for at least 183 days in a calendar year
- Have their centre of life interests in Greece
Working Hours
Statutory
40 hours
8 hours a day, 5 days a week
Typical practice
40 hours
Monday - Friday
Overtime
- Employers receiving special permission for additional overtime per week:
40-48 hours - 120% of salary
48+ - 140% of salary
120+ - 160% of salary - Work on Sundays and official Holidays - 175%
- Work at night - 125%
Employment Contract
Fixed-Term
Used for temporary, seasonal work or specific projects
Contract Format
In writing, in a language understood by both parties, signed by both parties and issued 1 week or 1 month before employment begins
Payroll Currency
EUR
Probation
Cannot exceed 1/4 of the contract, up to a maximum of 6 months
Contract Period
Up to 2 years and can be renewed without any limits if justified by an objective reason. Contracts for extensions without objective reasons are restricted to 3 renewals
Termination
-
Notice during probation:
- No notice -
Voluntary resignation and involuntary termination:
- No notice
- Collective agreements may differ -
Severance:
- Termination before the contract expiry date: salary and fixed benefits for the remainder of the term
Public Holiday
- 12 days
12 days
Public holiday that fall on days off are lost
Country Level
| Date | Name |
|---|---|
| 01 Jan | New Year's Day |
| 06 Jan | Epiphany |
| 18 Mar | Orthodox Clean Monday |
| 25 Mar | Independence Day |
| 01 May | Labour Day |
| 03 May | Orthodox Good Friday |
| 05 May | Orthodox Easter Sunday |
| 06 May | Orthodox Easter Monday |
| 23 Jun | Orthodox Whit Sunday |
| 24 Jun | Orthodox Whit Monday |
| 15 Aug | Assumption Day |
| 28 Oct | Ochi Day |
| 25 Dec - 26 Dec | Christmas Day |
| 26 Dec | Glorifying Mother of God |
Leave
| Leave Type | Entitlement | Notes |
|---|---|---|
| Annual Leave |
20 working days, 5 day week 24 working days, 6 day week |
All staff 1 extra day per completed year for the first 2 years After 10 years' service, 25 days for 5-day work week and 30 days for six-day week |
| Maternity/Special Maternity Leave |
17 weeks Can be extended up to 43 weeks |
All expectant mothers |
| Paternity Leave | 14 working days | All expectant fathers |
| Parental Leave | 4 months | All parents with 1 year service |
| Sick Leave |
1 month Employement from 4 - 10 years: 3 month Employement for more than 10 years: 4 months Employment for more than 15 years: 6 months |
All staff with 4 years' service |
Reference
- https://www.numbeo.com/cost-of-living/in/Athens
- https://ypergasias.gov.gr/en/social-security/insured-persons/insurance-contributions/
- https://www.usemultiplier.com/greece/employee-benefits-and-compensation
- https://www.kpsy.gr/index.php/publications/employment/24-greek-law-labour-law-in-a-nutshell
- https://ypergasias.gov.gr/en/labour-relations/collective-employment-relations/minimum-wage/
- https://ypergasias.gov.gr/ergasiakes-scheseis/atomikes-ergasiakes-sxeseis/lysi-symvasis-ergasias/
- https://www.dypa.gov.gr/en/epidoma-gonikis-adeias-1
Ready To Expand in Greece?
Have any questions? We’d love to hear from you
Contact UsCountry Guide - Greece
Last updated: 04 Oct 2024
Exchange Rate
Currency (EUR)
- 1 CNY = 0.185 EUR
- 1 USD = 1.32 EUR
Other currencies can be retrieved via the country guide link above.
Find us on WeChat
Labor Cost Calculator
To know the total employer cost for hiring a staff with certain salary, please go to our main site: https://marcopayroll.com
Cost of Living
Indicative value for a working adult in a city: Athens
Publicly available data (Numbeo, etc..), verified by Marco’s in-country staff
| Living Requirement | Indicative Amount (EUR) |
|---|---|
| McDonalds Set Meal | 9 |
| Monthly Train and Bus Tickets | 30 |
| 3 Bedrooms Rental (City Center) | 1082 |
| 3 Bedrooms Rental (Outskirt) | 925 |
Current Inflation Rate
3%
Wage
Minimum Wages
- As of 1st April 2024
White-collar workers: 830,00 EUR per month
Median Salary
Estimated based on general positions such as HR, Accounting, Admin roles, in tier one cities.
| Job Level | Monthly Salary (EUR) |
|---|---|
|
Entry-Level
Fresh Graduate
|
950 |
|
Mid-Level
5 Years
|
1500 |
|
Experienced & Managerial Level
10 Years
|
2450 |
|
Specialized & Senior-Level
15 Years
|
3100 |
Annual Salary Growth
5.5%
Statutory Contribution
The monthly social security contribution cap for EFKA is set at EUR 7,373.53
Country Level
| Type | Employer Rates | Employee Rates | Notes |
|---|---|---|---|
| Pension Fund |
13.33% |
6.67% |
All staff maximum earnings capped at 7373.53 per month |
| Supplementary Pension | 3.00% | 3.00% |
All staff maximum earnings capped at 7373.53 per month |
| Healthcare | 4.3% | 2.15% |
All staff maximum earnings capped at 7373.53 per month |
| Supplementary Healthcare in Benefit | 0.25% | 0.40% |
All staff maximum earnings capped at 7373.53 per month |
| Unemployment | 1.41% | 1.65% |
All staff maximum earnings capped at 7373.53 per month |
| Professional Risk | 1.00% | - | All staff |
| High Occupational Risk | 1.40% | 2.20% | All staff in certain industries |
Other Benefit
Other common employment benefits in Greece include:
- Private Insurance: 120 EUR per month
- Car Allowance: Around 50 EUR per month
- Meal Allowance: Around 75 EUR per month
- Gym Membership: 50 EUR per month
Income Tax
Residents
- Tax period: 1st January - 31st December
Country Level
| Taxable Income | Rate |
|---|---|
| Up to 10,000 | 9% |
| 10,001 - 20,000 | 22% |
| 20,001 - 30,000 | 28% |
| 30,001 - 40,000 | 36% |
| 40,001+ | 44% |
Non-residents
- Non-residents are taxed on Greek-source income only. The same tax rate applies.
-
A tax resident is an individual who meets one of following criteria:
- Residence in Greece for at least 183 days in a calendar year
- Have their centre of life interests in Greece
Working Hours
Statutory
40 hours
8 hours a day, 5 days a week
Typical practice
40 hours
Monday - Friday
Overtime
- Employers receiving special permission for additional overtime per week:
40-48 hours - 120% of salary
48+ - 140% of salary
120+ - 160% of salary - Work on Sundays and official Holidays - 175%
- Work at night - 125%
Employment Contract
Permanent
Probation
6 - 12 months
Termination
-
Notice during probation:
- No notice -
Voluntary resignation:
- Up to 3 months notice, verbal or in writing
- Collective agreements may differ -
Involuntary termination:
- Under 12 months' service: no notice required
- 12 months - 2 years: 1 month
- 2 - 5 years: 2 months
- 5 years - 10 years: 3 months
- Over 10 years: 4 months -
Severance:
- Based on the last months' salary for full-time employment
- staff with under 12 months service are not eligible
- 12 months - 4 years' service: 2 months’ gross salary
- 4 - 6 years' service : 3 months’ gross salary
- 6 - 8 years' service: 4 months’ gross salary
- 8 - 10 years' service: 5 months’ gross salary
- 10 full years' service: 6 months' gross salary
- Every full year over 10 years: 1 additional months' gross salary
Fixed-Term
Used for temporary, seasonal work or specific projects
Probation
Cannot exceed 1/4 of the contract, up to a maximum of 6 months
Termination
-
Notice during probation:
- No notice -
Voluntary resignation and involuntary termination:
- No notice
- Collective agreements may differ -
Severance:
- Termination before the contract expiry date: salary and fixed benefits for the remainder of the term
Public Holiday
- 12 days
12 days
Public holiday that fall on days off are lost
2024
| Date | Name |
|---|---|
2025
| Date | Name |
|---|---|
Leave
| Leave Type | Entitlement | Notes |
|---|---|---|
| Annual Leave |
20 working days, 5 day week 24 working days, 6 day week |
All staff 1 extra day per completed year for the first 2 years After 10 years' service, 25 days for 5-day work week and 30 days for six-day week |
| Maternity/Special Maternity Leave |
17 weeks Can be extended up to 43 weeks |
All expectant mothers |
| Paternity Leave | 14 working days | All expectant fathers |
| Parental Leave | 4 months | All parents with 1 year service |
| Sick Leave |
1 month Employement from 4 - 10 years: 3 month Employement for more than 10 years: 4 months Employment for more than 15 years: 6 months |
All staff with 4 years' service |
Reference
- https://www.numbeo.com/cost-of-living/in/Athens
- https://ypergasias.gov.gr/en/social-security/insured-persons/insurance-contributions/
- https://www.usemultiplier.com/greece/employee-benefits-and-compensation
- https://www.kpsy.gr/index.php/publications/employment/24-greek-law-labour-law-in-a-nutshell
- https://ypergasias.gov.gr/en/labour-relations/collective-employment-relations/minimum-wage/
- https://ypergasias.gov.gr/ergasiakes-scheseis/atomikes-ergasiakes-sxeseis/lysi-symvasis-ergasias/
- https://www.dypa.gov.gr/en/epidoma-gonikis-adeias-1
Contact Info
-
Singapore (Headquarters)
8 Marina Boulevard, MBFC Tower 1, #11-01, Singapore, 018981
+65 6653 4334 -
China (Headquarters)
79 Jianguo Road, China Central Place Tower 2, #09-52, Beijing, 100025
+86 10 6580 0555 -
China (Service Center)
23 Dagong Street, Eton Place Tower 2, Unit 1808, Dalian, 116001
-
United States
445 S Figueroa St, 31st Floor, Los Angeles, California, 90071
-
United Kingdom
71 - 75 Shelton Street, London, England GB
-
Netherlands
Vijzelstraat 68, 1017 HL, Amsterdam
-
Australia
Level 22, Salesforce Tower, 180 George Street, Sydney, NSW 2000