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Pfizer’s new investment project in Thessaloniki, Greece

By 03/12/2020 No Comments

Phizer

During the 31st Greek Economic Summit, organized by the American-Hellenic Chamber of Commerce, the CEO of the multinational pharmaceutical company Pfizer, Albert Bourla, announced Pfizer’s intention to move forward with yet another investment project in Thessaloniki.

With offices in over 50 countries around the world, including Greece and Australia, Pfizer is now looking to expand its business in locations where there is significant potential for growth, such as Thessaloniki.

Earlier this year, Pfizer had announced its plan to create one of its six digital laboratories in Thessaloniki, comprised by a world-class team of 200 scientists and young talents, noting that 15-20% of the applications received by the company for jobs come from Greeks who had gone abroad during the crisis and now want to return, in view of the new favorable tax regime introduced by the Greek government (https://www.law-services.gr/legal-articles-and-media/greece-to-offer-50-tax-break-for-returning-professionals/).

The digital laboratory, aiming at introducing technologies such as artificial intelligence and big data analytics in the development of new treatments, is expected to commence its operations in Thessaloniki by the end of the year, in spite of the delays due to the pandemic.

Following, as well, the comments of Nico Gariboldi, the head of digital technology and innovation center of Pfizer, regarding the potential for Thessaloniki to develop into the next Silicon Valley, on the 2nd of December 2020, Pfizer announced their intention to create another hub in Thessaloniki. The Digital hub is meant to serve the company internally, connecting Pfizer’s innovation centers around the globe, providing everything from tax services to HR management.

With around 350 employees meant to work there, many of which are returning professionals, the two centers will initially employ 600 people, with the prospect of doubling that number in the following years.

As stated by the company’s representatives, apart from Thessaloniki having nine world-renowned research centres and some of the largest universities in South-eastern Europe, with which Pfizer wishes to cooperate, one of the main reasons behind their choice is Greece’s investment policies that are becoming more and more favourable towards foreign investors (see also https://www.law-services.gr/foreign-investements-in-greece/).

It is anticipated that with the innovation centers, Thessaloniki will be placed on the map, in terms of innovation and scientific excellence, providing even more incentives for other companies and investors to settle there.

At Amoiridis Law Services® we are dedicated at assisting our well-respected clients successfully complete any of their investment projects. Thanks to our longstanding experience, we are able to provide a full package of consultancy services to our almost exclusively international clientele, customized to their specific needs.

As a result, we have represented clients from all around the globe regarding their projects in Greece. Our network of associate experts, composed by both in-house and external solicitors, notaries, accountants, tax experts, civil engineers, topographers, realtors etc., enables us to provide an all-in-one package of consultancy services, guiding you throughout the entire procedure of transferring your tax residence to Greece and benefiting from the upcoming tax exemption package.

For any further information and clarifications please do not hesitate to contact our qualified legal team, ready to provide you with further personalised information tailored to your needs and your profile.

You can email us:  or call/text us directly at: +306908351705

Athens, December 2020

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