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Know All The Details About An Incorporate Company In Greece

Incorporate Company In GreeceHow Should You Incorporate Company In Greece – All You Need To Know About It

Greece is situated in southeast Europe. Its strategic position has recently caught the eye of the foreign investors. Greece may not be the first country an investor thinks of when he wants to start a company. But the tax efficient business opportunities there have convinced investors and businesspeople to Incorporate Company In Greece.

The government of Greece has lowered taxes. The tax rate is less than 30% for businesses and companies. The European Union, or EU, has made large investments in infrastructure in Greece. After the Olympics of 2004, the economy has only shown growth. Now, the average Greek consumer spends higher per capita than consumers of any other European country.

 

Types of Incorporate Company In Greece

There are four main types of Incorporate companies in Greece:

  1. Limited Liability Corporation (EPE)
  2. Stock Partnership (AE)
  3. Partnership
  4. Branch

The Limited Liability Corporation or EPE is the most popular form of incorporation in Greece. It is a company that is legally separate from the people who operate it. In case of sole traders and partnerships, the personal assets of the people involved are at risk if the company is sued. But in the case of EPE, the shareholders lose only the amount they have invested. You have to invest a minimum of €18,000 to incorporate company in Greece or an EPE.

 

Incorporate Company In Greece

 

Procedure to Incorporate Company In Greece

We recommend you to first appoint a legal firm to look into your incorporate company in Greece. They will be in the best position to advise you on the structure of the company and other legalities like jurisdiction and taxes. You can change the jurisdiction of your LLC if you wish to, later on.

There are certain prerequisites to incorporate a company in Greece:

  • The company must have at least one shareholder. The shareholder can be of any nationality. You can own your LLC by being the lone shareholder. You can also have corporate shareholders, and you could be a legal shareholder. The Greece government encourages foreign ownership of up to 49% of the total ownership of the company.
  • Your company can have only one director. In the case of shareholders, you can have corporate directors. The board of directors cannot expect privacy, as Greece does not allow this information to be kept private. The civil law of Greece requires that you should conduct annual meetings of shareholders.
  • You will need a registered office where all your legal correspondence can take place.
  • You do not need to hire a company secretary.
  • You must file your accounts and tax returns punctually to the concerned authorities.

You must prepare and submit the following set of documents to the Chamber of Commerce:

  • Company Name – The company name must be unique. It must be derived from the primary business operations of the company or the shareholders.
  • Address of registers office – The address of your office where legal correspondence can take place must be included.
  • Annual financial statement and annual tax return.
  • Proof of identity – A copy of your passport, national identity card or driving license, and that of all the directors and shareholders of the company.
  • Proof of residence – Gas bill, electricity bill, credit/debit card statements or bank statements of last three months.
  • The equity capital – A minimum of €4500 is required. At least 50% of this capital must be in cash.
  • Duration for which you want to incorporate the company.

It will take about 2 weeks to incorporate a company in Greece.
Once your company is incorporated, you will receive the following documents:

  • Certificate of Incorporation
  • Original share certificates
  • All government receipts to show payment of registration and license fees
  • Share transfer forms, if any
  • Special powers of attorney or declarations, if any
  • Additional corporate resolutions

For more information and guidance on Incorporate Company in Greece, contact 3E Accounting, China. We will help you with all aspects of registration, whether EPE or AE.
You can contact us by sending an email to request a no-obligation quotation or get more information about Incorporate Company in Greece.