The private capital company (IKE) and branch office are the more suitable options for foreign entities seeking to establish a company in Greece. Please click on one of the following the links -depending on your needs – for more details: virtual presence or physical presence.
| Company Type | Sole Proprietor ship | General Partner ship | Limited partner ship | Limited Liability Company | Private Capital Company* | Société Anonyme | Branch office* | Represen tative Office | Joint Venture |
|---|---|---|---|---|---|---|---|---|---|
| Greek term | Atomikí Epicheírisi | Omorithmi Etairia (OE) | Eterorythmi Etairia (EE) | Etairia Periorismenis Euthinis (EPE) | Idiotiki Kefalaiouchiki Etairia (IKE) | Anonymi Etairia (AE) | Ypokatastima | Antiprósopos | Κοινοπραξία |
| Suited enterprise size | Small | Small | Small | Small to medium | Small to medium | Large | Any | Any | Large |
| Business liability | Unlimited | Unlimited | Limited for all but one owner | Limited | Limited | Limited | Unlimited | Unlimited | Unlimited |
| Wholly foreign owned? | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Minimum share capital? | € 0 | € 0 | € 0 | € 4,500 | € 1 | € 25,000 | € 1 | € 1 (min. € 100K expenses p.a.) | € 0 |
| Minimum number of directors? | 1 | 2 | 1 | 1 | 1 | 3 | 1 | 1 | 2 |
| Resident directors required? | Yes | Yes | Yes | No | No | No | No | No | No |
| Corporate owners allowed? | No | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Greece resident company secretary/legal representative required? | No | No | No | No | No | No | Yes | No | Yes |
| Tax registration/financial statements required? | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes |
| Corporate tax | 22% | 22% | 22% | 22% | 22% | 22% | 22% | 0% | 22% |
| Business transactions allowed? | Yes | Yes | Yes | Yes | Yes | Yes | Yes | No | Yes |
| Can rent office space in Greece? | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Can register online? | Yes | Yes | Yes | Yes | Yes | Yes | No | No | No |
NOTES
Société Anonyme (SA)
- This company has legal personality and is responsible to third parties for its debts using its assets. Shareholders’ liability is limited to the amount of their contributed capital. Share transfers are private without notorioul deed. The names of the shareholders (with exception of the founding shareholders) are not mentioned in its Articles of Association.
- The company management consists of a Board of Directors, which includes at least three members. This allows for clear-cut segregation of duties and delegation of powers amongst its members; and for delegating a wide spectrum of representation and signatory powers to a single individual, whether a member of the board of directors or a third party, who is permitted under the law to represent and bind the company with his single signature.
- An SA allows for flexible financing with the possibility of issuance of tax efficient bond loans.
Representative Office
- A representative office is established by foreign companies with the purpose of providing to their head offices or to their foreign affiliates exclusive services, namely consulting services, centralized accounting support, quality control of production, procedures and services, preparation of studies, designs and contracts, advertising and marketing services, data processing, receipt and supply of information, and research and development services to their head offices or to their affiliates that are not established in Greece, via bank remittances.
- Instead of corporate taxation based on profit, a representative office pays a rate in accordance with their annual expenditure.
Joint Venture (JV)
- In Greece, a JV (koinopraxia) is an association of two or more natural persons or legal entities that have a common aim to achieve a certain project or transaction. JVs are generally not regulated. However, this is with the exception of special law provisions that regulate certain specific forms of specialised co-operation.
- JVs can be subject to corporate law if the parties decide to form a corporate entity where they will be shareholders.