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Company formation in Greece
Comprehensive assistance in company formation, including banking services
How to form a company in Greece
1
Document submission
You submit to us necessary documents of the future founders and directors for the purposes of company formation in Greece
and opening a bank account in Greece
and opening a bank account in Greece
2
Payment of services
Payment of our services for company formation in Greece and/or bank account assistance in Greece
3
Company formation
We register a new company in Greece for you. Upon completion of the registraion corporate documents are either delivered to you or submitted to a bank for the subsequent opening of a bank account
4
Bank account opening
In case you request an assistance with a bank account, we arrange an interview at the bank for you, inform you about the date of the visit and accompany you on your way to the bank. After the bank account is opened and active you receive corporate documents of the formed company as well as the access to the bank account
Key aspects to consider prior to registering a company in Greece
Company formation in Greece takes just 10 business days.
1. Founders of a company in Greece can either be resident or non-resident in Greece. Founders can be either individuals or legal entities.
2. A resident or a non-resident individual can be a director in Greece. It has to be noted that only EU citizens can be non-resident directors in Greece. In case of a non-EU citizenship, a non-resident director needs to receive a residence permit in Greece.
3. One individual can be simultaneously a shareholder and a director in a company in Greece if such company is registered as a E.P.E. or a I.K.E. (a limited liability company or a private company).
4. There is no requirement for creating substance in Greece - no need to hire local employees or rent an office in order to establish a company in Greece or to conduct business in Greece. There is an exception, for example, when a foreign investor is planning to conduct a business activity based on retail sales - in this case it is necessary to rent an office space in Greece.
5. Minimum share capital requirement in Greece for a limited liability company (E.P.E.) is EUR 4,500. Minimum share capital requirement for a private company (I.K.E.) is EUR 1.
6. Information about company founders, shareholders and directors after a company is registered in Greece is publicly available in the state corporate register.
7. We can help you register a company in Greece remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Athens for 1 day in order to open a corporate bank account.
2. A resident or a non-resident individual can be a director in Greece. It has to be noted that only EU citizens can be non-resident directors in Greece. In case of a non-EU citizenship, a non-resident director needs to receive a residence permit in Greece.
3. One individual can be simultaneously a shareholder and a director in a company in Greece if such company is registered as a E.P.E. or a I.K.E. (a limited liability company or a private company).
4. There is no requirement for creating substance in Greece - no need to hire local employees or rent an office in order to establish a company in Greece or to conduct business in Greece. There is an exception, for example, when a foreign investor is planning to conduct a business activity based on retail sales - in this case it is necessary to rent an office space in Greece.
5. Minimum share capital requirement in Greece for a limited liability company (E.P.E.) is EUR 4,500. Minimum share capital requirement for a private company (I.K.E.) is EUR 1.
6. Information about company founders, shareholders and directors after a company is registered in Greece is publicly available in the state corporate register.
7. We can help you register a company in Greece remotely, on the basis of a power of attorney. It is necessary for the director of the new company to travel to Athens for 1 day in order to open a corporate bank account.
Cost of services
Formation of a E.P.E. or a I.K.E.
Timeframe - 10 business days
Timeframe - 10 business days
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for company formation
Advantages of registering a company in Greece
Attractive business-environment
- Greece has an advanced, high income economy, it has the largest economy in the Balkan region
- High-quality logistics and communication infrastructure
- Access to the Mediterranean Sea, to the Ionian Sea and to the Aegean Sea allows to establish maritime trade in major regions of the world
- Greece is rich in natural resources and thus acts as a major import-export hub of minerals. It is the largest European producer of tobacco and fifth largest exporter of cotton in the world
- Highly educated and skilled workforce
Stability and security
- Political stability
- Secure legal and justice systems
- Comprehensive protection of property rights
- Comprehensive personal security
- Investment protection
Tax benefits
- Dividend withholding tax rate is just 5%
- Multiple double tax treaties
No foreign exchange controls
- Greece joined the Euro area which allows it to secure free capital transfer in any currency. Individuals and business-entities, either resident or non-resident in Greece may open bank accounts in Greek banks in any currency
Ease of establishing and doing business
- Remote company setup in Greece is available
- 100% foreign ownership of a company is available
- Company registration takes just 10 business days
More about Greece
Greece is located in the southern Balkan Peninsula and shares common borders with the following countries: Albania to the West, Bulgaria and North Macedonia to the North and Turkey to the East. Doing business in this country offers a gateway to Asia, Africa and Europe, since Greece has access to the Mediterranean Sea, to the Aegean Sea and to the Ionian Sea. Greece has a territory of 131,957 square kilometers. The capital city of Greece is Athens, the largest city and the location of key government institutions.
Population of Greece amounts to around 10,7 million people.
Population of Greece amounts to around 10,7 million people.
Official currency of Greece is euro (EUR).
Greece has an economy that is primarily based on the service sector that amounts to 70% and on the industrial sector that amounts to 16%, with agrictulture representing around 4% of GDP. Among other crucial Greek sectors are tourism and shipping. Important are food and tobacco processing, textiles, chemicals, metal products, mining and petroleum. The GDP of Greece grew by 8% in 2021 and amounted to USD 197.6 billion.
In terms of foreign trade, top imports of Greece include crude oil, refined oil, petroleum products, natural gas, medicametns, cars and vehicles. Greece processes fossil fuel imports into finished products with some being exported while others are used in the country. All imports are primarily coming from Germany, Italy, France, Netherlands and China. Greece exports refined petroleum, packaged medicaments, aluminium plating, fish and other processed vegetables, as well as plastics, iron and steel products. Primary export partners of Greece are Turkey, Italy, Germany, Bulgaria and Cyprus. Other important trading partners include the UK, the US and Egypt.
Greece has an economy that is primarily based on the service sector that amounts to 70% and on the industrial sector that amounts to 16%, with agrictulture representing around 4% of GDP. Among other crucial Greek sectors are tourism and shipping. Important are food and tobacco processing, textiles, chemicals, metal products, mining and petroleum. The GDP of Greece grew by 8% in 2021 and amounted to USD 197.6 billion.
In terms of foreign trade, top imports of Greece include crude oil, refined oil, petroleum products, natural gas, medicametns, cars and vehicles. Greece processes fossil fuel imports into finished products with some being exported while others are used in the country. All imports are primarily coming from Germany, Italy, France, Netherlands and China. Greece exports refined petroleum, packaged medicaments, aluminium plating, fish and other processed vegetables, as well as plastics, iron and steel products. Primary export partners of Greece are Turkey, Italy, Germany, Bulgaria and Cyprus. Other important trading partners include the UK, the US and Egypt.
Foreign investors establish business in this jurisdiction in the following sectors:
Restricted for foreign entrepreneurs are the following sectors:
- food industry
- renewable energy
- shipping equipment and services
- information and communication technologies
- travel and tourism
- production of cosmetics
Restricted for foreign entrepreneurs are the following sectors:
- operational activity of airports and seaports
- production, transport and storage of oil products
- creation, maintenance and modernization of military equipment and weaponry
- production, sale and transfer of natural gas and electricity
- postal services.
- Corporate income tax - 22%. Tax returns are filed on an annual basis. Advance income tax payments are made twice a year or on a quarterly basis
- Dividend withholding tax - 5%
- Interest withholding tax - 15%
- Royalties withholding tax - 20%
- Capital gains tax - 22%
- VAT - Standard tax rate 24% or reduced rates from 0% up to 13% or tax exempt. Tax returns are filed on a monthly or a quarterly basis
- Personal income tax - from 9% up to 44%.
Apart from such traditional business entity types as a limited liability company (Eteria Periorismenis Efthynis – E.P.E.) and a public limited company (Anonymos Eteria – A.E.), Greek corporate law offers to establish a business as:
1. Private company (Idiotiki Kefalaiouchiki Eteria - I.K.E.)
2. General partnership (Omorthymos Eteria - O.E.)
3. Limited partnership (Eterorythmos Eteria - E.E.)
To receive a detailed description of the company formation procedure in Greece and information about documents necessary for company formation in Greece please contact our experts.
1. Private company (Idiotiki Kefalaiouchiki Eteria - I.K.E.)
2. General partnership (Omorthymos Eteria - O.E.)
3. Limited partnership (Eterorythmos Eteria - E.E.)
To receive a detailed description of the company formation procedure in Greece and information about documents necessary for company formation in Greece please contact our experts.
Send a request for company formation in Greece
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Phone: +44 20 8157 4037
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128 City Road,
London, EC1V 2NX
Phone: +44 20 8157 4037
Email: request@pil-services.com
