Turning Elliniko into a Greek Monaco

Greece aspires to turn the new development at Elliniko into a Monaco-like magnet for wealthy entrepreneurs and businesses from abroad, not just for pensioners permanent relocating to Greece.

That is the target of the government's recent moves through laws already voted on or soon to be tabled in Parliament concerning incentives for enterprises and their owners to relocate from places such as the City of London.

Already the ministers of finance, Christos Staikouras, and development, Adonis Georgiadis, are heading in that direction: Sources say changes are about to be made to legislation concerning the relocation of foreign companies to Greece, which will provide tax incentives for businesses moving to this country. The two ministries' agencies have already begun the necessary preparations.

A total of three laws are expected to change the image of Greece for...