Incorporate in Greece

Reliable EU incorporation!

Country Profile

Greece is located in southeastern Europe, a strategic geographical position that links Europe with Asia and Africa. An EU member since 1981, Greece joined the Eurozone in 2001, NATO since 1952 and a founding member of the United Nations (1945). Classified in developed countries with high per capita income and the 22nd best country in terms of quality of life in world.

The Greek economy is based on two pillars; tourism and shipping are the two most important industries in the country contributing significantly to the GDP, as well as being a great source of exchange. The last 5 years has seen significant growth to the Greek economy from the Renewable Energy Sources (RES) and logistics industries.

Company Types

There are two main types of companies incorporated in Greece:

1. Capital based companies

2. Personally owned companies

Capital Companies
1. Anonymous Company  A.E. (Societe Anonyme S.A.):

• Required initial capital 60.000 €

• The capital is divided into shares of equal value

• Stringent provisions against disclosure, the establishment and subsequent acts

• Long life of the company

• Limited liability of partners / shareholders

• Majority voting

• Allowance for three bodies (General Assembly, Board of Directors, Auditors)

• For the establishment of the SA require notarized document involving lawyers and various administrative authorizations as appropriate.

2. Limited Liability Company E.P.E.:

• Minimum capital requirement of 4.500 € for establishing the company

• Division of capital into shareholdings, consisting of shares with a value multiples of 30 € per share.

• Disclosure requirements for the establishment and subsequent

• Prediction specific duration of the Company’s articles of association, but the relative lack render the statute void.

• Limited liability of partners

• Majority voting of persons and capital

• Existence of two bodies (Assembly of partners and managers)

• Establishing Ltd. requires a notary and lawyer.

3. Private Company I.K.E. is a new form of company in Greece:

• Has advantages over other forms of companies

• Is commercial and has legal personality

• Has minimized the administrative operating costs (lawyer, notary and publications)

• A minimum capital of a Euro

• The shareholding is decoupled from capital

• Recognize any contribution (capital, labor or guarantor liability)

• Simplifies the relations between partners and operated company

• Flexibility in choice and change shape between a capital and a private company

Personal Company Forms
1. Limited Partnership E.E.:

• Non requirement to provide the necessary minimum capital

• Existence of general partners and limited partners. General partnerships are responsible for their personal property for unlimited corporate obligations, limited partnership is not only limited to the amount of their contributions to the company.

• The limited partnership may be established and a simple private agreement.

2. Partnership O.E.:

• Non requirement to provide the necessary minimum capital

• All partners of a partnership jointly and severally liable with all their personal property for corporate obligations.

• With the dissolution of the company no longer the personal liability of partners for obligations of the company.

• The general partnership may be established and under private contract.

3. Sole Proprietorship:

• Personal company the sole partner is liable for all the debts of the company with his fortune

• Flexibility in controlling every area and make quick decisions as dependent on a single person

• No minimum capital for establishing the company

• Set up time is minimal

Company Formation

Callamus will guide you in choosing the most tax-efficient company for your business needs and assists in the formation of all types of Greek companies, offering complete accounting services to support the company after initial formation. As part of the Callamus commitment to the client, we monitor all developments and changes in the tax system in Greece in order to inform and guide clients appropriately on complex local and international tax issues.