Fractional CFO services in Greece

Greek R&D super-deduction

Greek companies can claim a 100% additional deduction on qualifying R&D expenditure (effectively 200% deduction against taxable profit), with the rate raised in 2024 to attract more R&D-intensive investment. Materially reduces the post-tax cost of R&D for Greek tech companies.

EquiFund fund-of-funds

EquiFund is the Greek state-backed fund-of-funds, capitalised by the European Investment Fund and the Hellenic Republic. Anchors most active Greek VC funds and provides indirect institutional capital across seed, Series A and growth-stage rounds.

HFRI R&D grants

Hellenic Foundation for Research and Innovation (HFRI / ELIDEK) administers R&D grants to Greek researchers and companies. Programmes vary across thematic and open calls; funding rates typically cover a meaningful share of qualifying R&D project costs.

EU PNRR and ESPA funding

Greek EU Recovery and Resilience Plan (Greece 2.0) plus ESPA structural funds flow through ministerial agencies and EYPYA for R&D, digitalisation and the green transition. Among the largest non-dilutive capital sources for qualifying Greek SMEs.

Greek VC ecosystem

Greece's VC scene has grown materially in the last decade, anchored by Big Pi Ventures, VentureFriends, Marathon Venture Capital, Velocity.Partners and Genesis Ventures. Cross-border participation from European, US and Greek-diaspora investors is common at growth stage.

Venture debt and lending

Limited domestic venture debt market. Cross-border providers (Kreos Capital, Claret Capital Partners, HSBC Innovation Banking) operate in Greece via European lending arms. EIB-backed lending via Greek partner banks provides complementary SME credit.

Stock options (post-2020 reform)

Qualifying Greek employee options can be taxed at capital gains (5% or 15% depending on holding period) rather than employment income, subject to specific company-size, age and qualifying conditions. The regime has been progressively refined since 2020 and now compares favourably with peer Mediterranean markets.

Standard stock options

Options outside the favourable regime are taxed at exercise on the spread as employment income at marginal rates. Generally avoided by venture-backed Greek companies in favour of the qualifying scheme; the structuring choice is one of the key CFO decisions at incorporation or Series A.

Phantom shares and SARs

Cash-settled equity-like instruments remain used in Greek startups, particularly those that do not qualify for the favourable scheme. The holder receives a cash bonus equal to the value of a notional option at exit. Taxed as employment income at payout.

Restricted Stock Units (RSUs)

Used at later-stage Greek companies, particularly those with US investors or a US parent. Taxed as employment income at vesting at marginal rates. Less common in early-stage venture-backed startups given the favourable Greek option regime.

Option valuation

Greek startups typically peg option strike values to the price of the most recent priced round. Independent valuations are useful for material grant programmes to support the AADE (Independent Authority for Public Revenue) position on fair market value.

Reporting and AADE

Option exercises and qualifying equity events flow through Greek payroll for income tax and IKA (now EFKA) social contributions. Annual employer reporting on equity events required. Worth aligning between cap-table tool, Greek payroll provider and tax advisor.

Accounting

• •Epsilon Net - common Greek accounting platform.
• •Softone or Singular Logic - alternatives widely used at Greek accounting firms.
• •NetSuite - for late-stage companies needing multi-entity consolidation.

Payroll

• •Epsilon HR or Softone HR - common Greek payroll modules at accounting firms.
• •Factorial - modern HR + payroll alternative for Greek startups.
• •Deel or Remote - for hiring contractors and staff outside Greece.

Business banking

• •Eurobank, Piraeus Bank, Alpha Bank or National Bank of Greece - for treasury, FX and traditional debt facilities.
• •Revolut Business - for early-stage simplicity.
• •Wise Business - for multi-currency operations.
• •Mercury - for founders with a US C-corp alongside the Greek entity.

Cap table & equity admin

• •Ledgy - strong European coverage; common at Greek venture-backed startups.
• •Carta - for Greek companies with US investors or a US parent.
• •Pulley - modern alternative at later stage.

Expenses & corporate cards

• •Pleo - European default; clean integrations.
• •Spendesk - strong approval workflows for larger teams.
• •Payhawk - alternative with strong European coverage.