Company Formation Greece
Greece is one of the most well-known European countries. Often called the cradle of western civilization, Greece became a member of the European Union in 1981. The country has a population of about 10 million people and has a GDP of more than $200 billion. Most recently, the country made headlines during its debt crisis. The country’s GDP has declined from more than $300 billion. In recent years, the GDP has been improving after the country received a bail out from the IMF and the European Union. Greece is ranked at position 72 on the World Bank’s ease of doing business.
Why Register a Company in Greece?
- The country’s economy is coming back after going through a recession.
- Greece has high unemployment rates. This means that labour costs are reasonably lower.
- Greece is a member of the European Union, which has a large market.
- Greece has excellent weather. This means you can do business throughout the year.
- Infrastructure. The country has developed infrastructure that make it easy to do business.
- Greece has vast investment opportunities.
How to register a company in Greece
- Search and register your company name. You need to do this at the Chamber of commerce and industry.
- Submit documents. You need to file your business documents at the Athens Bar Association. This is the stage where your articles of association will be signed.
- Deposit share capital. Open a bank account and deposit funds the minimum share capital.
- Document submission. Submit documents to the secretariat of the court. Here, you will get a registration number.
- Get the company seal and apply for tax registration.
FAQs for Company Registration in Greece
What types of companies can be registered in Greece?
- Anonymos Eteria (AE) – This type of business is also known as a corporation. The minimum share capital is EUR 24,000.
- Eteria Periorismenis Efthynis (EPE) – This is a limited liability capital. It does not have a minimum share capital.
- Branch of a foreign company – This is when a foreign company decides to register a company in Greece. The country needs more documents.
- Omorythmos Eteria (OE) – This is a general partnership that has no minimum share deposit.
- Eterorythmos Eteria (EE) – This is also known as a limited partnership. It is similar to general partnership, with the main difference being that the liability is limited.
- Idiotiki Kefalaiohiki (IKE) – This is a company that is liable for its corporate debt.
- Kinopraxia (JV) – This is a joint venture.
What is the corporate tax in Greece?
Greece has one of the highest corporate taxes in the European Union. It has a corporate tax of 28%. This is set to drop to 27% in 2020, 26% and 25% respectively in 2021 and 2022 respectively.
How long does registering a company in Greece take?
It depends. For IKEs, the process can take less than a week. It can go for up to 3 months for large companies.
At GFSC Global, we are one of the best-known company formation consulting firms in Greece. We can help you register a company, handle taxes, and register a company office.
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