Incorporate a Limited Liability Company/ Eteria Periorismenis Efthinis (EPE) in Greece
The most common ways to establish your business in Greece is to register an EPE, which is a Limited Liability Company similar to a French Sàrl or a German GmbH. As part of our standard incorporation package we undertake the completion of all formalities for the formation of your EPE Company under Greek law, from the registration of your company name to the commencement of taxable activities.
In Greece your company name must be either the name of one or more of the company’s shareholders, or it must refer to the business objects, in all cases it must include the company form as a suffix. After you have submitted the company name of your Limited Company to us, we can obtain approval of the company name within several hours. We will check your proposed name for availability at The Chamber of Commerce and Industry and advise you of any potential conflicts with companies already on the register.
We then draft your Memorandum and Articles of Association, in which the principle objectives clause will be specifically drafted for your new company; once agreed the Articles of Incorporation are signed before a notary public. The capital then needs to be deposited and the capital tax settled with the local Tax Authority so that the necessary stamps and certificates can be obtained from the relevant pension and welfare funds. We then submit the Articles of Incorporation on your behalf, register with the secretariat of the Court of First Instance and send a summary of the Articles to the Printing Office for publication in the Official Gazette (Fyllo Efimeridas tis Kyverniseos). Finally we register with the Chamber of Commerce and Industry, the social services and the state authorities to obtain the necessary government and administrative references and approvals; once we have these, your company is ready to trade.
It typically takes around two weeks to fully incorporate your company from the date that we receive all information and proofs of identification.
Formacompany has over 20 years’ experience forming companies in Greece and across the world, and our staff will be available to offer advice and support through the entire incorporation process, from initially selecting a suitable company name through to finally commencing taxable activities.
What you need to set up a Limited Liability Company/ EPE in Greece
To begin incorporation of your limited company we will require the following:
- Your company name
- The full name, date of birth, address and nationality of all directors
- The full name and address of all shareholders
Documents you are required to provide:
- Proof of identity (passport, national identity card, photographic driving licence).
- Proof of residential address (gas/electricity bill or credit/debit card bank statement dated within the last three months).
- In Greece there is no such term as a Registered Office as it is understood elsewhere in Europe; rather, a real address is requested by the authorities and the space will be physically inspected by tax officers. Clients should bear in mind that the monthly cost of maintaining a Limited Liability Company in Greece, irrespective of the volume of transactions, will normally amount to around €1000 for the seat and the accounting service, these are both is obligatory requirements.
Share Capital requirements
- The entire share capital has to be deposited to the EPE Company’s bank account during the company formation process and before your company can be registered.
- The minimum share capital requirement is €18,000.
- At least one shareholder is required; there is no restriction on the nationality of shareholders.
What it costs to set up a Limited Liability Company/ EPE in Greece
A Limited Liability Company in Greece will cost £3290, this includes:
- Preparing your Memorandum and Articles of Association and other mandatory documents required to register your limited company.
- Paying all capital duties and registration fees.
- Lodging documentation with the Court of First Instance.
If you opt for our Corporate Services Package we can also provide a Registered Office and resident Company Secretary for your limited company.
What you receive after setting up your new business
- Original Certificate of Incorporation
- Original share certificates
- Original government receipt as evidence of payment of annual company registration and license fees
Additional documentation may include share transfer forms or declarations, special powers of attorney, additional corporate resolutions.
Important Information about Incorporating a Limited Liability Company / EPE
- A Greek EPE requires minimal ongoing administration: Whilst you are required to file an annual financial statement and an annual return, there is no requirement for an annual audit if your business is considered ‘small’..
- There is no need to travel to Greece to incorporate an EPE Company. In order to register your company remotely you will need to provide us with a Power of Attorney which, will need to be signed and apostilled by a Notary.
- A Greek EPE requires minimal infrastructure. A minimum of one director and one shareholder is required to incorporate an EPE in Greece; these can be the same person, can be of any nationality and need not be resident in Greece. There is no explicit requirement for a resident director but, as the director must work with the local authorities and the tax office, this is recommended.