Greece has emerged as the most complex country for multinational businesses in 2024, climbing from second place in 2023, according to Global Business Complexity Index 2025. The rise reflects ongoing legislative reforms and digital transformation initiatives affecting accounting, tax compliance, human resources, and payroll management.
In 2024, Greece introduced sweeping changes to its regulatory framework, including the MyData electronic books system. This new tax reporting platform requires companies to invest heavily in compliance technology, with costs ranging from EUR 100,000 to EUR 1.2 million.
These expenses disproportionately impact small and medium-sized enterprises (SMEs), creating barriers to smooth financial reporting and tax compliance. Additionally, rollout of digital payroll cards is reshaping the human resources and payroll (HRP) landscape, especially in sectors like tourism and heavy industry.
Impact on Greek businesses and investors
For companies operating in Greece, these complex legislative and digital reforms mean higher operational costs and a greater need for resources dedicated to regulatory compliance.
SMEs are particularly vulnerable, with many struggling to remain competitive amid rising expenses. This environment may deter foreign investment and limit business expansion opportunities in the short term.
Despite these hurdles, experts remain optimistic that Greece’s transition from traditional to electronic bureaucracy will eventually streamline processes and reduce complexity. However, the current phase demands patience and adaptability from businesses navigating multiple online submission platforms.
What we are experiencing is the transition from traditional bureaucracy to electronic bureaucracy. This involves there being multiple online platforms for various submissions, each requiring different credentials. Instead of visiting each department in person, we now navigate electronic systems.
TMF Greece expert
Infrastructure and labor market trends
Greece continues to invest in critical infrastructure, focusing on maritime ports to support its dominant role in sea trade. However, improvements to road and rail networks are progressing more slowly, impacting supply chain efficiency.
Labor market dynamics reveal rising employee turnover rates and increasing wage pressures. Additionally, there is a growing emphasis on work-life balance, with employees prioritizing personal well-being over traditional work commitments.
