Π2Ρ(law)
PRP | attorneys at law
Fee Structure
We pride ourselves on giving clear and accurate costs advice at the right times so that there are no surprises. This transparent approach, combined with the quality of service provided, helps us ensure that we give every client value for money. In order to account for fair charges we have considered various fee models which are dependent on the type of work we are carrying out, the anticipated time we expect to incur on any assignment, as well as our ability to package services and generate time and cost efficient results.
Fee Option 1 - Flat Fee Assignments
Quoting a reasonable fee for a legal service is always a challenging task. Whenever the nature and type of your assignment permit the quotation of a "flat fee" on the basis of the predictability of the time anticipated to be incurred in the provision of the service, our professionals take the liberty to propose a flat fee. This arrangement is applicable to more standardized types of services such as the preparation and submission of various forms with the different state authorities, or in the case of one-off tasks whose cost and time are clearly identifiable at the outset (i.e. business incorporations) etc.
Please be advised that our primiry objective is to provide transparancey in all our billings. All quotations provided before the undertaking of any assignment are net of VAT, which has to be added on top. Legal Services are subject to VAT at the rate of 24% as of July 1, 2010. In certain circumstances VAT is avoided.
Fee Option 2 - Hourly Rates
Longer assignments are usually better accounted for through an "hourly rate" billing system. Such billing method safeguards the fairness and the ballance of our involvement. Our hourly rates are expressed in EUR and vary depending on seniority and experience of the staff involved. Our rates are being reviewed on July 1, of each year. Rates applicable as of July 1, 2019 are as follows:
Partner
Senior Associate
Associate
Legal Trainee
250
170
100
60
Progress Statements are being produced at the end of each month and are submitted to our clients for their review and sign-off prior to any invoice being raised. In addition clients are being advised of any disbursements such as travel cost, phone charges, etc. that are likely to be incurred, as well as of any potential charges related to any third party employed on their behalf to assist their case (accountants, translators, etc). VAT at 24% may be applicable on top.
Fee Option 3 - Monthly Retainer
Monthly retainer arrangements are proposed in circumstances where there is an ongoing need to attend to any particular client's affairs on a recurring basis. These arrangements are preferrred either by start-ups or our corporate clients with recurring routine obligations, which require our involvement or by non-resident individuals with ongoing business affairs in Greece. This arrangement is also typical in the purchase of domiciliation services or wealth administration services.
Invoices related to monthly retainer arrangements are being raised quarterly in advance. Invoices are subject to Greek VAT at the rate of 24%. In certain circumstances VAT is avoided.