Greece's Ministry of National Economy and Finance, in a parliamentary committee speech by Minister Kyriakos Pierrakakis, set out the core elements of a draft bill to restructure how charitable assets, foundations and dormant inheritances are recorded, supervised and brought into use, alongside changes to donations to the State and targeted tax-code amendments. The package also proposes a new governance model for the Zappeion bequest manager and includes additional provisions with legal, fiscal and insolvency-related effects. The draft framework would create a Single Electronic Register of Charitable Assets under the ministry, with real-time recording of assets, governance and acts, and would make legal effects conditional on publication in the register, with information freely accessible. A new e-diadoxi digital platform would provide a unified process for registering dormant inheritances and would replace the current requirement for a court decision when an unclaimed estate passes to the State with an administrative act. The bill would establish the Foundation for the Management and Liquidation of Inheritances and Dormant Assets (IDEKAKP) and, for the first time, define objective inactivity triggers, including failure to upload financial statements for three consecutive years or spending below 15% of annual revenues on the charitable purpose; after a three-month window to submit a reactivation plan, management could be transferred temporarily to IDEKAKP, which would then seek permanent administration via a court decision. Additional measures include a register of certified auditors and mandatory management audits every three years, processing of State donations through an e-Donations platform, and tax incentives including income tax exemption for revenues of active foundations and exemption from inheritance tax. For the Zappeion, the managing body would be converted from a public-law entity into a private-law entity named the Committee of Olympians and the Zappeion Bequest, with a five-member board, enhanced presidential powers and a general director overseeing operations. Beyond the charitable-asset reforms, the speech highlighted provisions to introduce an out-of-court dispute-resolution mechanism within the Legal Council of the State for compensation claims against the State, create a rapid-response unit for urgent opinions, and allow discontinuance of litigation where a citizen has already obtained an irrevocable ruling. It also described tax and enforcement protections for certain disaster-related awards and business support, and insolvency measures under which criminal prosecution for debts to the State and social security funds would be suspended during bankruptcy and extinguished upon discharge, alongside vouchers for financial and psychological counselling for individuals at risk of insolvency.
Ministry of National Economy and Finance (Greece) 2025-12-04
Greece's Ministry of National Economy and Finance outlines draft law to digitise oversight of charitable assets and activate dormant inheritances
Greece's Ministry of National Economy and Finance, led by Minister Kyriakos Pierrakakis, proposed a draft bill to reform charitable asset management. Key elements include a Single Electronic Register, tax incentives, a digital platform for dormant inheritances, and the Foundation for Managing Inheritances. It also introduces dispute-resolution mechanisms and insolvency measures.