Introduction to setting up a Company in Greece
Greece is a favourable country for foreign investors looking to establish a subsidiary. It has relatively low labour costs and an advantageous location for reliable business links with southern Europe, the Balkans and the Middle East. In addition, the implementation of a new act (the ‘Simplification of procedures for setting up single-member and limited liability companies and other provisions’) has made the incorporation timescale much shorter.
What are the main requirements for a Greek Company?
– The minimum share capital required for a limited liability corporation (EPE) is €4,500
– The minimum share capital required for a stock corporation (AE) is €60,000
– The Memorandum & Articles of Association of the subsidiary
– The resolution of the parent company detailing its decision to form the subsidiary
– A registered office in Greece
The documents shown above must be filed with the local Chamber of Commerce in order to register the company.
What are the accounting requirements of a Greek Company?
The company must register for taxation at the local Tax Office in order to obtain a Tax Identification Number.
Introduction of recently updated services means that certain taxation or financial transactions can now be completed online through the TAXISNET service, or on the phone via TAXISphone.
Tax accounts should be filed annually and VAT accounts monthly, in addition to an annual VAT return statement.
We will handle every aspect of the Company formation for you. Using our expert knowledge we can offer a company formation package in which we take care of company registration, issue of the certificates of registration, local directors, local representative and place of business in Greece, tax registration, VAT registration, and translation of documents into Greek.
Our unique one stop solution for all European formation requirements also offers formation packages to set up multiple companies. The benefits for establishing multiple companies include further increased exposure and global presence, and we can organise everything for you.
A summary of Greece Corporate Taxes is available here.