Greece Key points
- Time – 2 weeks to incorporate your company
- Directors – only one director of any nationality, is necessary for your EPE company
- Shareholders – only one shareholder of any nationality, is required
- Shareholders – 100% foreign shareholders allowed
- Share Capital – the share capital requirement is €18,000
- Support – using our 20 years experience we guide you throughout every step of the company formation process
- No filling requirement with Greek authorities
Establishment of a Limited by Shares Company E.P.E.
The minimum requirement for the formation of an EPE is one director, one shareholders, which can be the same person. Corporate shareholders are permitted.
The structure and operation of the EPE is ruled by the Articles of Association (Statutes) which must be executed before a notary public, constitutes a registered public document and must state the following:
- Founders/shareholders: full name, profession, domicile and nationality.
- The company name: the company name of the EPE must either be incorporated by the name of one or more of its shareholders or by the business object and in all cases must include the additional designation “Limited Liability Company”.
Regarding the activity of the company to be incorporated, it is important to know whether this is going to be company only providing services or a commercial company.
We have to know the exact object of activity and locate an appropriate working space, which has to be inspected by the Tax Officers (which is more complicated and thus takes a few days more).
The existence of a place of business is proved either by a deed of building ownership, lease or by a deed of transfer.
Draft Articles of Incorporation, in the form of a notarial document, which needs the following in order to be legalised :
To be checked and certified by the appropriate Chamber concerning the right to use the Company Name and Designation, which are to be used by the firm, because the secretaries of the Court of First Instance in the area of each Chamber must not enter companies in the Court’s books of companies, nor certify the Articles of Incorporation or Deeds of Dissolution for Personal Partnerships or Limited Liability Companies, if these have not been already certified by the appropriate Chamber concerning the right to use the Company Name & Designation.
For the ACCI to issue such a certificate, the Company Name and Designation must be sufficiently distinguishable from those of others in the registry – for this reason, prior to the drafting of the Articles of Incorporation of the company under establishment, the proposed Company Name and Designation must be investigated at the ACCI, to ensure that it is not already in use or reserved by another firm.
Depending on the activity of the company to be established, the individual must be insured at the “TAE”.
Certificate of Commencement of Activity as well as a Tax Number from the appropriate Tax Office, in the area of which the company is or will be installed.
Register at the appropriate Chamber (from which the Articles of Incorporation of previous Clause 2 was certified), because :
- Registration at the appropriate Chamber is obligatory.
- The Limited Liability Company must acquire a Certificate of Registration and payment or adjustment of annual charges from the appropriate Chamber which, will be used at the Tax Office for the issue of tax books and bills for your Company.
- The documentation required for registration is listed below.
- Submittal Form for Registration, together with instructions, may be acquired at the Registry Department of the ACCI.
Official tax books and documents (of the Code of Tax Books & Documents) from the appropriate Tax Office, in whose area the limited liability company is or will be installed.
Documents Required for Registration
- An Application Declaration on a Form supplied by the Registry Department of the ACCI, signed by the Company’s manager(s)
- The Articles of Incorporation for the establishment of the Limited Liability Company as well as all amendments (if any), as deposited at and certified by the Court of First Instance (in photocopy).
- The Issue of the Government Gazette (OEK) which contains the announcement for the summary of the articles of incorporation of Limited Liability Companies or, if the said Issue has not yet been published, a receipt by the National Publishing Organization which must quote the number and date of the Issue which shall include said summary of the articles of incorporation.
- A Certificate issued by the Tax Office pertaining to the submittal of a declaration for Commencement of Professional Practice (in photocopy).
- For all legal representatives of the company, a police identity card or E.U. Passport or Residence – Work Permit for aliens from other than E.U. countries (in photocopy).
- Special Licence to Operate, which is required for the company to perform its specific activities.
The Department, in certain cases, is entitled to request the submittal of the following documentation:
- Lease, or other similar document proving the existence of professional accommodation.
- Accounting Book as part of the Books and Documents required.
Completion of Registration
The registration procedure is completed within a day after submittal of documentation, at the earliest, and after:
- The ACCI has checked the documentation.
- The recording of the Company Name and Designation in the appropriate books kept by the ACCI, as required by law.
- The payment of recording fees for the name registry which amounts to €21 for Limited Liability Companies (plus a 2.4% stamp-tax on behalf of the state and the Agricultural Pension Fund.
- The payment to the ACCI of fees due or the settlement by instalment plan.