Less obligations for the professional office space tenant are envisaged at the Bill of the Ministry of Economy, Competitiveness and Shipping with respect to the simplification of the establishment procedures for personal and capital share companies, which has been approved in principle by the Production and Trade Committee of the Greek Parliament. Article 43 of Presidential Decree 34/1995 stated that the tenant has the right to terminate the tenancy after a two-year period expires, whereas article 17 of the current Bill provides that a commercial tenancy may be terminated one (1) year after the beginning of the tenancy. Furthermore, the period between the notification of the termination and the actual termination is reduced from six to three months, whereas the tenant’s compensation to the owner is hereafter limited from four (4) month rents to one (1) month’s rent. The present Bill’s purpose is the facilitation of the renegotiation of commercial tenancies within the framework of the present economic conditions.

Natassa Kollia