With Greece undergoing a remarkable economic and political resurgence in recent years, the country presents an enticing business destination for professionals from all over the world. Our years of experience and in-depth knowledge of the Greek professional landscape, allow us to deliver high-quality assistance to international investors looking to launch a startup, or expand their business in Greece.
Establishing a Family Office in Greece
Clear and transparent rules have been created for the establishment and operation of special-purpose property management companies. This also provides incentives for determining the taxable income of families and offices based on the expenditure they have incurred on tax residence in Greece. It needs to be carried out by these companies, provided that specific conditions apply.
REQUIREMENTS
The Family Office:
- Should employ a staff of at least 5 people in Greece within 12 months from its establishment
- Should incur at least 1,000,000 euros per year in operating expenses in Greece.
Family Office operation in Greece:
- In any legal form (SA, LTD, personal company, etc.), except for legal entities of non-profit nature.
- Exclusive purpose: Providing support to individual tax residents of Greece and their family members in the administration and management of their assets and investments.
TAX TREATMENT AND PROFITS:
- Determination of taxable income using the Cost-Plus Method (CPM) method of the OECD, applying a profit margin of 7% on all expenses and depreciation, excluding income tax.
- All expenses at the fixed rate of profit applied will be deducted, as long as they are documented, according to Greek legislation.
- Application of the projected corporate tax rate of 22%, from the tax year 2021 onwards.
- VAT: Internal transactions carried out between the Family Office and the persons participating in it, as transactions carried out within a single entity, and are outside the scope of VAT.
- Withholding tax on payments to be made under the general provisions.
- The Family Offices framework is expected to function in addition to attracting more natural persons with tax residence abroad and will apply to all natural persons who are already or becoming tax residents of Greece, according to the existing provisions or the more specific provisions of Articles 5A, 5B and 5C of the Income Tax Code.
- A regulatory decision laying down detailed rules for the implementation of this new economic activity framework is expected soon.
Business Formation & Company Registration
- Advising on the most suitable legal structure for your business (e.g., IKE, SA, EPE, or Branch Office)
- Handling company formation and registration with the Greek General Commercial Registry (GEMI)
- Drafting Articles of Association, Shareholder Agreements, and corporate governance documents
- Obtaining VAT numbers and completing tax registrations
- Ensuring full regulatory compliance with local business, labor, and tax laws
- Providing ongoing legal support and consultation for business operations
Benefits of Operating a Business in Greece
- Low Corporate Tax Rate – Set at 22%, one of the most competitive rates in Europe
- Special Tax Regimes – Including a €100,000 flat tax for Non-Dom high-net-worth individuals and exemptions for foreign pensioners
- Startup-Friendly Legislation – Law 5162/2024 allows residence permits for third-country nationals investing in Greek startups
- Modern Banking & Financial Infrastructure – Greece’s restructured banking system ensures transactional security and modern financial tools
Why Entrust Us
At Georgaki and Partners Law Firm, we pride ourselves on a team of seasoned professionals boasting over 17 years of experience. Our deep understanding of Greek law, coupled with expertise in real estate and investments, enables us to deliver premium legal and consulting services tailored to your needs. Trust us to navigate the complexities of the Greek legal landscape and secure optimal outcomes for your investments.
