🇬🇷 Southern Europe
Debt Recovery in Greece
Greece responds well to a structured, Greek-language amicable process. DECOL's bilingual team and Cyprus base provide a cultural and legal advantage in this market.
Limitation period
5 years
Typical amicable recovery
21–45 days
Legal procedure
4–12 months
Languages
Greek · English
Statute of limitations
Five-year limitation for commercial claims under Article 250 of the Greek Civil Code; 20 years for judgment debts.
Late payment & interest
Presidential Decree 166/2003 transposing the EU late payment directive: ECB rate + 8% plus €40 recovery costs.
Enforcement
Διαταγή Πληρωμής (payment order) is the standard fast-track route for documented commercial debts, enforceable by court bailiff (δικαστικός επιμελητής).
Local practice notes
- Greek-language correspondence strongly recommended
- Payment order issued ex parte for documented debts
- GEMI (commercial registry) supports debtor verification
Active sectors
ShippingTourismConstructionAgri-food