Commercial Lease

According to Greek legislation the tenancy of immovable property, used for the exercise of commercial or professional activity, is characterized as a commercial lease. A recent amendment of the law (L. 4242/2014) determines that these tenancies are governed by the terms of the contract, the provisions of the Civil Code, and the Presidential Decree No 34/1995.

• The lease of a workplace has a minimum duration of 3 years and must be in writing.
• Even if it is agreed with a written agreement for a shorter duration, the owner and the tenant are committed for at least three years. The contracting parties may dissolve the lease with an amended agreement, proved with a dated document, bearing the validation of the signatures by a public authority.
• The amount of the rent shall be agreed upon between the parties. Moreover, it can be adjusted according to the parties’ agreement. It is preferable that the adjustments on a high percentage be avoided since it would be difficult to comply with and consequently problems may arise at the tenancy.