Company registration in Greece

Greece is attractive to foreign investors first and foremost due to its advantageous geographical position and sufficiently favourable legislation. The country successfully overcame the economic crisis of 2009-2010, and over the past few years, the local economy has been showing a steady growth.

Currently, Greece receives its main income from tourism, metallurgy, textile and food industries, and international trade (in particular maritime). Electrical engineering, the IT sector, and green energy are actively developing here. In Greece, the transport infrastructure is well-developed, and the banking system is branched.

BENEFITS OF COMPANY REGISTRATION IN GREECE

Greece is located in the southern part of the Balkan Peninsula and many nearby islands, which makes it a good launching pad for international trade and shipment of goods by sea. Also, there are ample opportunities for all types of tourism-related businesses here. Other advantages of opening a company in Greece include:

high interest of the jurisdiction in foreign investments;
wide range of banking services;
investment incentives from the state and tax incentives for the development of energy-saving technologies and innovative projects, restoration works, and the construction of hotels;
possibility of obtaining a residence permit for foreign investors;
availability of double tax treaties with more than 60 countries.

Among the negative aspects, high taxes in the country are to be mentioned. For instance, the value-added Tax (VAT) in Greece is 24%.

TYPES OF LEGAL ENTITIES AVAILABLE IN GREECE

Businessmen planning to open a company in Greece can choose one of the following company types:

A.E. — a public company limited by shares. The minimum authorised capital must be 60,000 euros and a minimum of two shareholders is required for its establishment;
E.P.E. is a limited liability company. The authorised capital must be at least 18,000 euros, one shareholder is sufficient for registration;
OE, EE — partnerships. It is possible to create partnerships with limited and unlimited liability.

Also, foreign businessmen can open joint ventures and branch offices of foreign companies in Greece.

STAGES OF COMPANY REGISTRATION IN GREECE

Opening a legal entity in Greece allows one to conduct any activity that is not prohibited by law. Foreign citizens can own 100% of the company capital and carry out management activities.

The registration process of each type of legal entity has its characteristics, however, its founders will in any case need to prepare a fixed package of documents (shareholder data, registration forms, etc.), draw up a Charter, and pay the necessary state fees. There are no residency requirements for persons setting up a company in Greece, nevertheless, it is required to have a local legal address and to open an account in a Greek bank. After registering a company with the Chamber of Commerce and Industry, it is necessary to obtain a tax identification number.

As a rule, the entire procedure for registering a company in Greece takes up to 10 days. COREDO specialists will help to make this process as quick and simple as possible.

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