Greek Limited Liability Company (EPE)
The EPE is the most common form of incorporation in Greece and it is equivalent to a Limited Company in the UK or a GmbH in Austria and Germany .It is a legal entity which is separate and distinct from the individuals who run it. For sole traders and for people in partnerships, the individuals’ personal assets are at risk if there is a claim against the organisation but shareholders in an EPE are liable to lose only the value of the share capital to which they subscribe.
Director must issue a tax registration certificate in Greece and if he/she has the nationality of a country outside the European Union, the relevant procedure for a residence permit as an employee – employee in Greece must be initiated, while the lease of a business premises that will be declared as the registered office of the subsidiary company will be required.
It is not necessary to travel to Greece to establish the company;
If we use foreign entity to be the 100% shareholder of the Greek entity, the documents needed from the parent company would be the following:
– Articles of association in their latest version;
– Certificate from companies office, which includes basic information about the company (e.g. directors, seat / address etc) (ìgood standing certificateî);
– Certificate from the tax office, certifying that the company exists and has a valid tax Id number & VAT number;
– Power of attorney to us
The above have to be presented in certified copies with apostille.
Furthermore, the company will need a registered seat in Greece; office prices can vary considerably depending on which area you wish to establish the office in; small offices of around 40-50 qm2 can be found in central areas (Athens or Thessaloniki) for monthly rent starting at Ä 300; but still, this price can be much higher, if you prefer the high profile areas. If you don’t require an actual office for his activity, there are virtual offices; such solutions cost around Ä 800 annually. Please note, nevertheless, that if the Greek entity will be involved in trading activities and not services, the company will require an actual office that can be considered sufficient for its purposes by the Greek tax authorities. Virtual offices are practically allowed only for companies that provide services.
Generally, we can set up the company within around 10 days after all required documents of the parent company are sent to us and the rental agreement for the registered seat signed. Y
For your information IKE is truly such a flexible company that you can start its incorporation with even 1 euro as a share capital.
In this case, a tax resident of Greece should be appointed, who will be appointed as the legal representative ñ manager of the company. The manager does not necessarily own corporate shares, he may have an unpaid relationship with the company and be insured accordingly.
NOTE : The Legal representative, proxy, delegate and agent, who will be appointed must be the holder of a Greek TIN and must submit: a) If a citizen of an EU state : a true copy of the Police Identity Card or Passport b) If it a citizen of a non-EU state : if residing in Greece, a Residence and Work Permit is required (according to the ministerial decision ?1-884/2012 & ?2-4900/2014) or proof of submission of supporting documents for the Residence and Work Permit for independent financial activity or as a Legal Representative of companies, if based in Greece.
The name for a Greek EPE must be derived from the primary business objects of the company or the names of the shareholders. We are able to check that your proposed name is acceptable with the Chamber of Commerce.
The term ‘registered office’ does not apply in Greece. Your Greek business requires a physical address that must be available to be inspected by the tax office at any time.
Only one director, of any nationality, is required for an EPE company. 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.
Only a single shareholder is required, there is no restriction on shareholder nationality or residency.
The minimum share capital is EUR 18,000 and this must be fully paid up upon incorporation, with at least 50% paid up in cash.
All companies must file an annual financial statement and an annual return. EPE’s are exempt from auditing requirements if considered ‘small’.
The incorporation process typically takes two weeks from the date that all documents and articles are filed with the Chamber of Commerce.
Greece Company Formation Fees
|Greece E.P.E. Company Formation – 2 weeks ||£2800|
|VAT & Tax registration||£250|
|Professional Chamber, Companies House (GEMI) Registration Fee – €250||£230|
|Annual Subscription – €100||£90|
|Registered/Tax Office Address Greece||£1800|
|Annual Renewal Fees|
|Directors Register Maintenance||£175|
Your company will be incorporated using your chosen name and we will ensure that the procedure is as simple as possible.
The whole incorporation process can be completed online and we will administer the preparation and filing of all registration forms on your behalf.
Proof of Identity
Due diligence: we require certified proof of residency, and a certified copy of the officers passport.
It is not a requirement to visit Greece to incorporate your EPE.