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The EPE is the most common form of incorporation in Greece and it is equivalent to a Limited Liability Company in the UK or a GmbH in Austria and Germany in that 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.
Company Name
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.
Registered Office
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.
Directors
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.
Shareholders
Only a single shareholder is required, there is no restriction on shareholder nationality or residency.
Share Capital
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.
Filing Requirements
All companies must file an annual financial statement and an annual return. EPE’s are exempt from auditing requirements if considered ‘small’.
Timescale
The incorporation process typically takes two weeks from the date that all documents and articles are filed with the Chamber of Commerce.
Fees
Greece Company Formation – £2800
Company Administration & Registered Office – £1800 per year
VAT & Tax registration – £250
Chamber of Commerce, Companies House (GEMI) registration fee €250 -£230
Annual Subscription €100 – £90
Proof of Identity
Due diligence: we require certified proof of residency, and a certified copy of the officers passport.
Travel
It is not a requirement to visit Greece to incorporate your EPE.
