Starting a Cannabis Business in Greece

Greece entered the European cannabis cultivation market with Law 4523/2018, seeking to leverage its Mediterranean climate, agricultural traditions, and EU membership to become a major production hub. The government explicitly designed the framework to attract foreign investment and create jobs, particularly in rural regions with high unemployment. Several international companies have secured licenses, with facilities concentrated in regions like Thessaly, Central Macedonia, and the Peloponnese. Like Portugal, Greece's cannabis strategy is primarily export-oriented, targeting the German and broader European medical cannabis markets. The country offers competitive advantages including abundant sunshine, low labor costs relative to Western Europe, a skilled agricultural workforce, and improving regulatory clarity. However, the licensing process has been criticized for bureaucratic delays, and the domestic medical cannabis market is negligible. Greece is best suited for well-capitalized operators focused on large-scale, GMP-certified medical cannabis production for the European supply chain.