The General Directorate of Development Laws and Foreign Direct Investments has decided to approve the temporary establishment of an Office in Greece by a company based in the United Arab Emirates.
This is the company Monterock International Limited, whose main activity is the participation and management of investments in the sectors of hospitality, food, real estate, and sustainable technology.
The Office is exclusively engaged in the provision ofthe following services:
a) preparation of studies, plans, and contracts,
b) advertising and marketing,
c) management of suppliers, customers and supply chain not including the execution of transport by own means,
d) management and training of human resources and
e) advisory nature to the Company’s headquarters in the United Arab Emirates and to the associated domestic companies a) “CYCLADES SOLE-PERSON COMPANY FOR THE OPERATION OF REAL ESTATE, CATERING RETAIL STORES, ENTERTAINMENT CENTERS AND HOTELS”, b) “MAFERIOSA HELLAS”, Branch of the Foreign Company with the name “MAFERIOSA LTD”, c) “ELEMENTAL RESORTS SOLE-PERSON COMPANY”, d) “DANAE SUITES SANTORINI SINGLE-PERSON LIMITED LIABILITY COMPANY” and e) “SOLIDFRAME SINGLE-PERSON LIMITED LIABILITY COMPANY”.
Among others, the company’s portfolio includes NAMMOS HOTEL MYKONOS, NOBU HOTEL SANTORINI, DANAE SUITES Santorini, Aman Venice, while NAMMOS RESORT ABU DHABI, NAMMOS RESORT MALDIVES, two One & Only resorts and other hospitality projects are planned.
The Office of the company Monterock International Limited is obliged, after the lapse of 12 months, to employ staff in Greece, consisting of at least 4 people, of whom 1 may be part-time and to have, for each tax year, operating expenses in Greece (staff salaries and any other operating expenses), of at least 100,000 euros.
The company Monterock International Limited is obliged, among other things, to notify, within 2 months from the publication of the said decision, to the Ministry of Development (Directorate of Foreign Direct Investments) and to the Independent Authority of Public Revenue (Directorate of Direct Taxation Implementation), the commencement of operation by the competent tax authority and the address and contact details of its Office in Greece. Within the same deadline, the company is obliged to submit to the above Services, the relevant contracts for the provision of its services.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations, Greek travel market, Greek tourism statistics, Greek tourism report
