Greece is one of the first European countries which established a favorable legal framework for investments in medical cannabis.
Cultivation and processing of medical cannabis in Greece
According to the law passed in 2018, the license for the cultivation and processing of medical cannabis in Greece has two main stages:
Process wise, first of all an appropriate land plot needs to be selected meeting all legislative & operational requirements and right after, an application form for the license to build the facility needs to be submitted to the Greek Ministry of Development & Investments.
According to Greek law, licenses are issued by the General Secretariat of Industry at the Ministry of Development and Investment.
The current legal framework allows only the production of final medicinal cannabis products.
Companies licensed to grow cannabis are allowed to install and operate cannabis processing and production units strictly intended for pharmaceutical use.
Medical cannabis products can be available in the state monopoly, sold in private pharmacies or exported. These products, according to Greek law, are licensed and controlled by the competent body, the National Medicines Agency (EOF). Consumer safety is protected by relevant EU drug legislation.
The single processing area (cultivation) and the area where the cultivation takes place, must both be included in the single space of at least 4 acres.
Specific safety and protection requirements must be met, in order to protect the perimeter of the installation.
The Greek Police will oversee the operation to ensure that security measures comply with the above requirements. Further checks will also be carried out by the competent police authorities. In case of breach of the security conditions, the license may be revoked at any time.
Applicants will not be licensed if they or any of their employees – including transport drivers – have been convicted or charged with a felony.
Approval will only be granted for individual installations in designated areas and areas where cannabis processing and production is permitted, in accordance with land use regulations.
Once the installation permit and the necessary operating licenses for the relevant processing units have been approved, the company will have to apply to the Hellenic National Medicines Agency (EOF) for further approval of production and marketing of their product, for the special production and marketing authorization of the drug.
It is important to note that receiving the Marketing Authorization License for the final Medicinal products, results easy acceptance of the products at other European countries, as EU GMP certification is a prerequisite to receive this license.
According to the European Parliament’s resolution 2018/2775, there is already convincing evidence that cannabinoid use has a significant effect on the treatment of certain serious diseases. In addition, according to its resolution, the European Parliament urged Member States to study and promote the prescription of the Cannabis Pharmaceuticals.
As the European and German pharmaceutical market continues to grow it is estimated that imports of medical cannabis products from countries that already have a defined and secure legal framework will increase further.
The above prospects of the global and European market combined with the fact that Greece is a country with a clear legal framework for licensing already in force, lead to the conclusion that Greece can act as an investment attraction for activities related to medical cannabis.
VK PREMIUM offers an enhanced palette of consulting services to facilitate medical cannabis investments in Greece including strategy & planning, products portfolio as of current & future market trends, land selection and licensing, grants utilizing Investment Incentive Law, design & construction of the facility in accordance with EU GMP & GACP standards and distribution strategies to secure sales success in foreign markets.
Overall, VK PREMIUM is a trust worthy partner with the expertise and long term success records, to facilitate the deployment of Medical Cannabis investments in Greece.
Call us at : +30 2106835560, send email to : info[@]vkmedicalcannabis.com or fill the bellow form: