Establishing a business in Greece can be both a lucrative prospect and a regulatory challenge. However, with proper support by a team of seasoned professionals, such procedures can be made quite straightforward.
Understanding the benefits of company formation in Greece is the first step toward long-term success.
Establishing a company in Greece gives entrepreneurs access to the European Union’s single market, a skilled workforce, and an attractive tax incentive for specific sectors such as shipping, tourism, renewable energy and technology. Through the simplification and digitalisation of procedures, particularly via the General Commercial Registry (GEMI) and One-Stop Shops, Greece now offers an attractive legal environment for investors, entrepreneurs, and multinational corporations.
Current Greek legislation provides for various corporate forms, each serving different business needs and offering distinct regulatory and tax profiles.
Societe Anonyme (SA) (ΑΝΩΝΥΜΗ ΕΤΑΙΡΕΙΑ – AE)
SA/AE is a capital company with legal personality, in which shareholder liability is limited to their capital contributions.
● Minimum Share Capital: €25,000 (paid in full upon incorporation). Higher thresholds apply to sectors such as banking or insurance, as regulated by special laws.
● Incorporation: Incorporated either by notarial deed, which includes the company’s Articles of Association, or by private document, provided the standard model AoA is used. In the case of incorporation by notarial deed, the notary public serves as the designated one-stop shop. When incorporation takes place via private document, the one-stop shop is the competent department of the General Electronic Commercial Registry (G.E.M.I.)
● Governance: Managed by a Board of Directors (minimum 3 members). Shareholders participate through General Assemblies.
● Approval: Ministerial approval required only for regulated sectors (e.g. banks, insurers).
Limited Liability Company - LLC (ΕΤΑΙΡΕΙΑ ΠΕΡΙΟΡΙΣΜΕΝΗΣ ΕΥΘΥΝΗΣ – EPE)
An LLC/EPE is a hybrid legal form that combines features of corporations and partnerships, similar to the GmbH (Germany) or SARL (France).
● Capital Requirements: The partnership capital is determined by the partners with no restriction.
● Formation: Executed before a Notary Public or through the One-Stop-Shop services of GEMI, followed by mandatory registration with the Business Registry (the so called “GEMI” in Greek) and the tax authorities.
● Structure: May be formed by one or more partners.
● Management: Administered by one or more administrators appointed via the Articles of Association or the General Assembly.
Private Company (ΙΔΙΩΤΙΚΗ ΚΕΦΑΛΑΙΟΥΧΙΚΗ ΕΤΑΙΡΕΙΑ – IKE)
An IKE is designed to offer flexibility and simplicity, particularly for small to medium-sized enterprises (SMEs).
● Capital Contributions: No minimum capital required. Contributions may be monetary, non-monetary (assets), or intangible (services or guarantees).
● Formation: May be completed with a private agreement (Notary Deed required only in certain cases) through the One-Stop-Shop services of the Business Registry (GEMI).
● Management: Handled by one or more administrators. Liability of partners is limited to their contributions.
General Partnership (ΟΜΟΡΡΥΘΜΗ ΕΤΑΙΡΕΙΑ – OE)
An OE is a traditional form of partnership where all partners bear unlimited liability for the partnership’s obligations.
● Capital Requirements: None. Contributions may include services, cash, or assets.
● Formation: Private agreement filed via the One-Stop-Shop services of the Business Registry; Notary Deed not required.
● Management: Conducted by one or more administrators.
Limited Partnership (ΕΤΕΡΟΡΡΥΘΜΗ ΕΤΑΙΡΕΙΑ – EE)
The EE is similar to the OE, but includes at least one general partner (unlimited liability) and one limited partner (liability limited to capital contribution).
● No management responsibility for the limited partner.
● Formation & Administration: Same as OE.
Branch/Subsidiary of a Foreign Company
A foreign legal entity can establish either a branch office or a subsidiary in Greece without forming a new legal entity.
● Procedure: Registration with GEMI along with documentation such as the parent company’s Articles of Association, certificate of good standing, and a Power of Attorney.
● Tax Registration: Conducted separately at the competent local Tax Office.
● Management: Operated by appointed legal representatives, with liability similar to that of SA/AE directors or LLC/EPE administrators
Company Branch Formation
In recent years, Greece has been demonstrating consistent signs of economic stability, as well as political, technological, and entrepreneurial growth. International investors have recognised this trend, turning Greece into a thriving hub of innovation and advancement. The Greek State has made certain that this trajectory continues in an upward direction, by implementing several tax policies that attract major investors on a global scale.
Current conditions make Greece a favourable environment for establishing a company branch.
