Embarking on an international expansion is a significant milestone for any ambitious enterprise. Greece offers a dynamic and strategic location for businesses looking to grow their presence in Europe. At Apex Leadership Solutions, we provide the expertise to navigate the local landscape, ensuring a smooth and successful setup for your company. This guide outlines the essential steps to establishing your business in Greece.
Apex Leadership Solutions has refined the company formation process into a clear, manageable path. We will ensure your business is established efficiently and in full compliance with local regulations.
| Step | Action | Description |
|---|---|---|
1 |
Choose a Legal Structure | Select the corporate entity that best aligns with your business strategy. Common options include the Private Company (IKE), Limited Liability Company (EPE), and Société Anonyme (AE). Foreign companies can also establish a branch office. |
2 |
Obtain Tax IDs (AFM) | All founders, shareholders, and directors must possess a Greek Tax Identification Number (AFM). This can be acquired remotely for non-EU citizens. |
3 |
Reserve Your Company Name | Check the availability of your desired company name and formally reserve it through the General Commercial Registry (GEMI) to protect your brand identity. |
4 |
Prepare Articles of Association | This foundational legal document outlines your company's structure, management, and operating rules. Depending on the company type, it may require notarization. |
5 |
Register with GEMI | Formally incorporate your company by submitting the Articles of Association and other required documents to the General Commercial Registry (GEMI). |
6 |
Open a Corporate Bank Account | A Greek bank account is essential for managing business transactions and, for certain company types, for depositing the initial share capital. |
7 |
Tax & Social Security Registration | After incorporation, you must register for VAT if your annual turnover is projected to exceed €10,000 and with the social security authority (EFKA) if you intend to hire employees. |
Selecting the appropriate legal framework is crucial for your long-term success. Each structure offers different advantages depending on the scale and nature of your business.
This is the most popular choice for startups and small to medium-sized enterprises. Known for its flexibility and straightforward setup, it makes an ideal vehicle for new ventures.
Min. Capital: €1 (recommend €1,500)This structure is well-suited for established businesses and offers a clear framework for ownership and liability.
Min. Capital: €4,500Recommended for larger corporations, the AE structure is designed to support significant business operations and is suitable for companies planning to raise substantial capital or list on the stock exchange.
Min. Capital: €25,000If a foreign company is acting as the founder (parent company), a specific set of documents is required to proceed with the incorporation. All documents must be officially translated and carry an apostille stamp for validation.
| Document | Purpose |
|---|---|
| Articles of Association | Explains the parent company's business structure. |
| Certificate of Good Standing | Confirms the parent company is active (issued within the last 3 months). |
| Board Resolution | Officially approves the opening of a business in Greece and appoints a legal representative. |
| Power of Attorney | Authorizes a representative to complete the registration on your behalf. |
| Copy of Passport(s) | For the legal representative(s) appointed in Greece. |
Understanding the timeline is key to planning your market entry. Below is an estimated schedule for each phase of the setup process.
| Phase | Action Step | Estimated Duration |
|---|---|---|
| Preparation | Tax ID (AFM) & Digital Keys | 2 – 5 days |
| Legal Filing | Digital Incorporation (e-YMS) | 1 – 2 days |
| Compliance | UBO Declaration | 1 day |
| Banking | Corporate Bank Account | 2 – 4 weeks |
| Activation | myDATA & E-Invoicing Setup | 2 – 3 days |
| Total Time | Fully Operational Business | ~3 – 6 weeks |
If you have any more questions, feel free to contact us. We will be more than happy to assist you.
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