Company Formation Greece
Our team of global financial experts at FormationWise are ready to offer you a variety of services designed to help you with offshore company formation in Greece.
Who we are
Our professionals are well-versed in the process of offshore company setup and strive to make it as fast and efficient as possible so that you can start to enjoy the benefits that you can reap when you open a company in Greece.
Why form an offshore company
The benefit of offshore company formation in Greece include asset protection along with tax incentives. They also include the prestige of opening a company within the borders of the European Union. Our team is ready to help you with offshore company formation with bank account by offering top level services.
Our services include
- Drawing up your business's formation documents for offshore company registration in Greece that includes passport copies, specimen signatures and any application forms that are required.
- Drawing up articles of association that are signed by power of attorney.
- The arrangement of public notary proceedings as required by Greek law.
- The setting up of a bank account for your offshore company.
- Assisting with locating an office in Greece.
Why you need us
These services are designed to make the process of company formation in Greece one that is as simple and straightforward as possible. You can count on our experts at FormationWise to make sure that everything is in order prior to the submission of your application.
Our team
Our team of experts is right here for you. We will guide you and assist with the entire process of company formation from beginning to end.
Placing an order is simple
- 1
Select your desired package
Simply pick the right offshore company formation package for your needs by filling out our form, by call or by placing an order on our website
- 2
Make a payment
After finalizing the correct package that suits your goals, make the payment for your selected services and send us your documents
- 3
Send your documents
Forward us all the necessary documents through an email with documents attached or by phone
- 4
Company formation
Once we receive the payment and the required documents, we will start the company incorporation process in Greece
- 5
Open a bank account
We will help you open a corporate or personal account with a reputable Greek bank
Types of companies that can be registered in Greece
There are four primary types of companies that you should know about that can be registered in Greece. They include:
Limited liability companies (EPE)
Greek limited liability companies are a popular option for small businesses that want to open a company in Greece. The minimum share capital for these limited liability companies is €4,500. Half of this total has to be paid in cash upon incorporation. There must be two shareholders for the formation of limited liability company in Greece. They must be natural or legal persons. This can include both nationals and foreigners. There must also be a director for the creation of a limited liability company in Greece.
Stock corporations (AE)
A stock corporation is a Greek company that is limited by shares. This is often considered to be the best offshore company formation option for larger companies looking to operate in Greece. Their minimum share capital comes in at €24,000. It is a type of company that requires there to be a nominal value of €0.30 to €100 for each share. Greek stock corporations can be founded by at least one foreign individual or a national individual. They can also be founded by a legal entity that will be liable for any debts and obligations that the company has as far as capital contributions.
Private companies (IKE)
A private company in Greece must have a minimum of one shareholder along with a minimum share capital of €1. These private companies are legal entities. Shareholders are not liable for obligations and debts of the company.
A Greek branch, representative office or subsidiary
The fourth company option is a branch, representative office or subsidiary. These can be set up by foreign companies as separate enterprises. In these cases, the foreign company then becomes a shareholder in a Greek company.
Minimum share capital for a Greek company
As the sum of money that investors have deposited into a company, it is one of the most important factors to consider when it comes to the topic of company formation in Greece. Minimum share capital is a particularly important point in terms of meeting the requirements to open a company in Greece. As noted previously, the minimum share capital for a Greek company depends on the type of company in question. For a stock corporation, it is €24,000. The amount is €4,500 for a limited liability company. In the case of a private company, the minimum share capital is only €1.
Time frame for the incorporation
The process of incorporation when you open a company in Greece generally takes around two weeks from the date that all of the required documents are received and the articles have been filed. The best way to ensure that everything is in order and ready for quick approval is to complete the cheap offshore company registration process with the assistance of our team of financial experts at FormationWise. We will make sure that everything is ready to go so that you can get your incorporation process completed within the two-week time window that is generally expected.
Do you provide a registered office address or a virtual office?
Yes
Is bookkeeping or an annual return required?
Yes
Foreign-ownership allowed?
Yes
Our services
Why form a company in Greece
Company formation in Greece is a great move for many reasons. It's EU membership adds a level of prestige to opening a company in Greece. The country enjoys great positioning in terms of the Human Development Index and has a geographic location that makes it ideal for building connections in eastern Europe as well as the region of the Black Sea. Greece is also a country with excellent infrastructure and its workforce is highly educated.
Investors who look to go into business in the Greek market also appreciate benefits such as low labour costs and low real estate prices. The fact that the country has put a large investment into projects related to infrastructure further helps to make a case for company formation in Greece. Add in the tax and asset protection benefits and it is easy to see why Greece is an exciting and sought-after market for company formation.
Why choose FormationWise to set up an offshore company in Greece
Choosing FormationWise to assist you in setting up an offshore company in Greece is a great move because our global team of financial experts has the knowledge and experience required to help you throughout the entire process. This includes making sure that you are aware of all of the associated fees that must be paid. Company formation in Greece can be straightforward and efficient. It is a matter of making sure that all paperwork is in order and sent to the right places for approval.
Complete set of services
We offer a complete range of services, from payment processing and trademark registration to offshore taxation, document retrieval, and more, so you can run your business operations completely stress-free.
Years of experience
Our team has years of experience in assisting new businesses and corporations of all sizes in Greece with offshore company formation, offshore taxation, accounting and many more
Free initial consultation
We provide free initial consultation on strategies or the provision of services for evaluating and establishing a legal entity on any corporate matter in Greece
Fully secure
When you work with Formationwise to incorporate a Greekcompany, you can be certain that your documents, data and personal details are completely secure
Quick and reliable
You can count on our team to guide you throughout this process so that you can open your company in Greece as quickly as possible and begin to enjoy the many benefits. We take a great deal of pride in delivering the results that our clients are looking for whenever they want to open up an offshore company in a great global destination like Greece.
What is the process?
The process for offshore company formation in Greece is as follows:
Decide on the Type of Entity
You must first decide on the type of entity that you wish to open in Greece. This includes options such as limited liability companies, private companies, stock corporations and subsidiaries. Upon making this decision, it is time to gain approval for a company name.
Get Pre-Approval of Your Company Name
A business name must be a distinctive word that is presented in Greek or Latin characters and must be pre-approved as being both acceptable and available. Company names should not be identical or almost identical to the names of other companies that are already registered. They should also not be phonetically similar either.
Commence With the Registration Process
Once a company name has received pre-approval, it is time to get into the registration process. To do this, you have to fill out Tax Clearance for A7 from the Greek tax authority. After that, you must submit the required documentation. Additionally, registration of employees with Greece's social security organisation the IKA is required. You also must be registered with the OAEE which is an insurance organisation for the self-employed.
Legal requirements for a Greek company
Legal requirements that you should be aware of when opening a company in Greece include:
Licensing
Depending on the type of business activity that your company is pursuing, it might be required that you attain an operation license or an establishment permit. There are cases where additional sub-licenses are also required.
Taxation
It is important to note that any company that is incorporated under Greek law or is registered in Greece is considered resident for tax purposes for the year in question. Corporate tax in Greece is at a rate of 22%. Tax is imposed on a company's total net annual profits prior to dividends being distributed. Normal business expenses can be deducted for tax purposes.
Employment Law
Full-time employment in Greece is considered to be 40 hours per week. Employment agreements do not have to be in writing unless specifically required by law. It is required for an employer to announce the commencement of a new employment relationship to the appropriate authority.
Documents required for company formation in Greece
Documents required for company formation in Greece
- A formal statement that includes power of attorney for a representative to be appointed.
- A formal statement by the company founders for incorporation by way of a notarial deed.
- An authorisation statement of the person who accepts the service.
- Certified copies of the identity cards of founders, partners, managers and board members.
- A formal statement application to the area department for the insurance organisation for the self-employed (OAEE).
- Application of the company's partners/founders to the social security institute (IKA).
- An insurance clearance certificate.
- A statement of the payment of the Capital Accumulation Tax.
- An application for a Tax Identification Number (M1 form).
- The Declaration of Taxpayer's Relations (M7 form).
- Articles of Association.
- Payment receipts of fees.
- Announcement of the company's incorporation and its registration.
- A statement of business activities
- A statement of the notary for incorporation.
You can count on our network of qualified, global financial experts at FormationWise to assist you in putting together all of the documentation that you require to open a company in Greece. Making sure that everything is in order is one of the key requirements to concluding the process as quickly as possible so that you can begin to enjoy the benefits of offshore company formation in Greece.
Cost of incorporating a Greek company
Understanding the incorporation costs for company formation in Greece is one of the most important pieces of information for you to have.
The incorporation cost for a Greek company during the first year is €5,400. In year number two, the annual amount is €1,900. It is also important to note that the average total fee per engagement in Greece comes to €11,600. This amount includes the fees for company incorporation along with the cost of opening a local corporate bank account and paying all required government fees.
You can count on the support of the FormationWise team when it comes to making sure that you fully understand all of the costs associated with the work that you are doing to open a company in Greece. We have the kind of experience within the market that is necessary to ensure that all fees are being sent to the appropriate authorities within Greece for processing. When you work with us, you can rest easy knowing that your goal of offshore company formation in Greece is being handled by a team of dedicated, global professionals with experience in this exciting market.
FAQ
Greece is a business market that welcomes foreign investment and ownership. The overall process of starting a business in Greece generally only takes around two weeks. Though it can be said that it is relatively easy to start a business in Greece, it is equally important to have access to the services of financial professionals who are experienced in the Greek market and understand the way that current legislation is structured. Our team at FormationWise has the kind of experience you are looking for in this area. When you work with us, we make the process of opening a company in Greece as straightforward and efficient as possible.
It is not required for you to appoint a company secretary if you are engaging in company formation in Greece. This is the case for all Greek companies regardless of whether they are foreign-owned or not.
Greek companies that are limited by shares should appoint at least three directors who are elected through a general shareholder’s meeting. These individuals make up the company’s board of directors. They can be residents or non-residents and can also be natural or corporate. Directors do have to be issued with a Greek residence permit to take up this role. In terms of requirements for shareholders in Greek companies, their details are disclosed to the local agent. They will appear on the public file. There must be a general shareholder’s meeting held within six months of the end of each fiscal year for a company. These meetings can be conducted at the office of the company, anywhere else in Greece or abroad.
The corporate tax in Greece is currently 22%. There are various valuation methods recognised by the Greek taxation system such as weighted average and first in first out (FIFO). Capital gains are included in taxable profits for companies operating in Greece. Capital gains that are derived from the sale of shares both listed and non-listed are considered to be taxable business income at the standard rate. Capital gains that are derived from selling shares in an EU-based subsidiary are tax-exempt whenever the participation is greater than 10%. This must be maintained for a minimum of 24 months. It is also important to note that dividend income is generally considered to be taxable. This is also the case for interest income and income that is derived from royalties and rents.
In practice, companies operating in Greece do need a company seal. Though a 2013 law (Law 4156/2013) abolished the requirement of a company seal for corporations, they are still used by banks in Greece. The Bank of Greece has issued no guidance for banks to stop requiring a company seal. Given this fact, companies still have to make a company seal as a part of their daily practice.
To register your company name in Greece, you want to check with the Chamber of Commerce and Industry to make sure that you have a unique name chosen. It is important to have a company name that is not a duplicate of or similar to another company that currently operates in Greece. From there, you go through the process of company document filing.
You do not have to visit Greece to set up a company there. The process is designed so that it can be done online. Company founders simply fill their details in and then utilise electronic signatures for the signing of statutes of the company or the articles of association. Once the company is created, it is automatically registered with the tax authorities in Greece and receives a tax identification number. From there, the company is ready to begin doing business.
For a business to operate within Greece, it must have a local address within the country. This is because businesses must be available for inspection by Greek tax authorities at any time. The type of business premises required depends on the nature of your company’s professional activities.
Our team at FormationWise can help you to incorporate your offshore company conveniently online. Our company formation services for Greece are designed to help you to open a company in the most efficient and convenient manner possible. Being able to do so online adds greatly to this convenience factor. You can always rely on our team’s expertise in this exciting market to help you to incorporate your offshore company online.
The benefits of incorporating a company in Greece include the fact that there are many sectors that are currently booming in the country. These include sectors such as food & beverage, travel & tourism, renewable energy, cosmetics and shipping services. The high-quality logistics available in Greece along with its excellent infrastructure for communication add to the appeal of incorporating a company there. The low cost of labour is another key benefit of doing business in Greece. It is also a geographic region with a workforce that is highly skilled and educated. You can find out more about incorporating a company in Greece by taking advantage of a consultation with our team of financial experts at FormationWise.