Setting up a Business in Greece
Legal Forms of Companies
|Types of Companies and Capital (Max/Min)||Number of Partners/Shareholders and Liability||Registration Fees|
| Eteria Periorismenis Efthynis (EPE) is a Private Limited Company
|| Minimum 2 partners.
NB: 1 partner for an EPE with extended benefits (limited liability) to the sole owner.
| Anonymos Eteria (AE) is a Limited Company.
|| Minimum 2 shareholders
| Omorithmos Eteria (OE) is a general partnership.
|| Minimum 2 partners
||Lower expenses as compared to an EPE or AE|
| Eterorithmos Eteria (EE) is a limited partnership
|| Minimum 2 partners
Liability of sleeping partners is limited to the amount contributed.
|Lower expenses compared with an EPE or AE|
Business Setup Procedures
- Administrative Formalities
- In order to set up an EPE or an AE certain formalities are required. Status must be drawn up in a deed drawn up by a solicitor. The EPE registration deed must be registered with the county court of the district where the company is located. The AE registration deed executed and authenticated by a notary must be approved by the Chief Administrator of the Region. This approval is equivalent to the registration with the Register of Public Limited Companies.
One month for an EPE and two months for an AE are required to be registered, including declaration at the Tax Office and the declaration for starting a new business.
- The Competent Organization
- Upon establishment, the company is required to register with the Tax Office and procure accounting and company books stamped by the Tax Authorities and also to register with the Local Chamber of Commerce. Consult The Athens Chamber of Commerce and Industry.
- Time Necessary for Registration
- Consult the website "Invest in Greece"
- Bankruptcy Laws
- Commercial and bankruptcy laws in Greece are in accordance with international norms. Under Greek bankruptcy law, private creditors receive compensation after claims from the state and insurance funds have been satisfied. Monetary judgments are usually made in the country’s currency (Euro) unless explicitly stipulated otherwise.
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Inspired Multi Dimensional Services Ltd on 7 Jun 2014 related to Setting up a Business in Greece
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