Setting up a Business in Greece

Overview by

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 18.000 EUR totally released up to this amount.
Minimum 2 partners.
NB: 1 partner for an EPE with extended benefits (limited liability) to the sole owner.
Liability is limited to the amount contributed.
EUR 180
Anonymos Eteria (AE) is a Limited Company.
Minimum 60.000 EUR totally released up to this amount.
Minimum 2 shareholders
Liability is limited to the amount contributed.
EUR 600
Omorithmos Eteria (OE) is a general partnership.
No minimum capital.
Minimum 2 partners
Partners' liability is joint and several.
Lower expenses as compared to an EPE or AE
Eterorithmos Eteria (EE) is a limited partnership
No minimum capital.
Minimum 2 partners
Liability of active partners is unlimited.
Liability of sleeping partners is limited to the amount contributed.
Lower expenses compared with an EPE or AE
Enterprises Federation
Hellenic Federation of Enterprises
Search a Company or a Financial Report
Athens Chamber of Commerce & Industry

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"

Recovery Procedures

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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