Selecting the appropriate legal entity is essential. For most small to mid-sized businesses, a Private Company (IKE) offers flexibility and minimal capital requirements.
Larger corporations may opt for a Société Anonyme (SA), which allows for public shareholding.
The decision depends on factors like liability, future expansion plans, and investor participation. Taking time at this stage will help avoid structural issues later on.
Once the structure is selected, you must reserve a unique business name through the online GEMI portal.
The name should not conflict with existing entities and must comply with Greek naming regulations.
This reservation is typically processed quickly, but it's a mandatory step before proceeding with formal registration.
The Articles of Association define your company’s internal governance, purpose, and shareholder roles. For IKEs, simplified templates are available, but custom articles may be needed depending on your business model.
In many cases, these can be prepared and submitted digitally, without the need for physical notarization, especially for standard formations.
Step 5: Obtain a Tax Identification Number (AFM)
Every company must register with the Independent Authority for Public Revenue (AADE) to receive a Tax Identification Number (AFM).
This step is essential for issuing invoices, opening bank accounts, and filing taxes.
Foreign nationals can now complete this process remotely via the myAADElive platform, making online company registration in Greece highly accessible from abroad.
Every company must register with the Independent Authority for Public Revenue (AADE) to receive a Tax Identification Number (AFM).
This step is essential for issuing invoices, opening bank accounts, and filing taxes.
Foreign nationals can now complete this process remotely via the myAADElive platform, making online company registration in Greece highly accessible from abroad.
If your company plans to employ staff, or if you're a managing partner drawing a salary, you’ll need to register with EFKA, Greece’s unified social security fund.
This ensures compliance with national labor laws and provides access to benefits such as pensions, healthcare, and maternity leave.
Contributions vary depending on employment terms and structure.
Once your company is fully registered and tax-compliant, you can open a corporate bank account in Greece. Most banks will require your GEMI certificate, AFM, Articles of Association, and proof of identity for directors and shareholders.
Some institutions also request a business plan or projected cash flow documents, especially for non-resident investors.
Local representation may be helpful to streamline this final step.
To operate legally, every company must open a corporate bank account with a licensed Greek bank. This account will be used for capital deposits, business transactions, and tax-related payments.
Each bank has its own onboarding process, but most offer both in-branch and remote onboarding options for corporate clients, especially when supported by a Greek legal proxy.
Expect to present the following to open the account:
• Certificate of company registration (GEMI)
• Articles of Association
• Tax Identification Number (AFM)
• Identification of shareholders and directors
• Proof of registered office address
• A brief business plan or company profile (in some cases)
Opening a bank account is typically the final step of the new company registration in Greece, and completing it ensures your business is fully operational.
All shareholders and directors must provide valid identification documents, such as a passport or national ID. For non-EU nationals, certified translations into Greek may be required.
In some cases, a Greek Tax Identification Number (AFM) is also necessary at this stage.
You must provide evidence of a business address in Greece. This can be a lease agreement or a property ownership document. The address will serve as your official headquarters for legal and tax purposes.
Virtual offices may be accepted under certain conditions, particularly during the initial setup phase.
This legal document outlines your company’s purpose, structure, management rules, and responsibilities of shareholders.
Depending on the entity type, standardized templates may be available or custom drafting might be needed.
The Articles must be signed and submitted during registration, either digitally or in notarized form
If the company is established by another legal entity or a group of founders, a formal resolution may be required. This document confirms the decision to incorporate and designates the legal representative in Greece.
It must be legally validated and often accompanied by official translations.
As a long-standing member of the European Union and Eurozone, Greece offers companies full access to the EU single market. This allows for the free movement of goods, services, and capital without customs duties or major regulatory obstacles.
For businesses targeting Europe-wide expansion, this eliminates the need to set up separate entities in each country.
Greece’s location at the junction of Europe, Asia, and Africa makes it a powerful strategic base for international operations. It offers direct access to emerging markets in the Balkans, Middle East, and North Africa.
This makes Greece especially attractive for logistics providers, export-driven companies, and regional hubs.
The country boasts a highly educated talent pool, with strong competencies in IT, finance, engineering, and international business. English proficiency is widespread among younger professionals.
Many graduates return from abroad with international experience, strengthening Greece’s position as a competitive destination for knowledge-based industries.
Greece has overhauled its corporate regulations to support faster, more flexible company setups. The Private Company (IKE) structure enables incorporation with minimal capital and fewer formalities.
The shift to digital platforms like GEMI has also reduced bureaucracy, making it easier to start and manage a company entirely online.
Greece actively supports investment through a range of state and EU-backed incentives. These include tax reductions, grants, and hiring subsidies, especially for sectors such as tourism, green energy, tech, and R&D.
Businesses aligned with national growth priorities can benefit from substantial financial support.
Operating in Greece is significantly more cost-efficient than in many Western European countries. Labor costs, office rentals, and living expenses are lower, which reduces your overhead without compromising on quality.
This makes Greece a smart choice for startups, SMEs, and international companies seeking a lean, scalable base in Europe.
Although Greece has made strides in digital transformation, bureaucratic procedures can still be complex, especially in sectors requiring permits or regulatory approvals.
Public sector interactions may involve delays or inconsistencies, making local legal or administrative support essential.
Greece’s tax framework is often revised, creating uncertainty for long-term planning.
Businesses must stay alert to new rules and reforms, especially as they relate to deductions, thresholds, and compliance. Working with a professional tax advisor is highly recommended.
The standard VAT rate is 24%, placing Greece among the highest in the EU.
In addition, social security costs are considerable, with employers contributing over 25% and employees around 16%. These obligations can weigh heavily on labor-intensive businesses.
While the financial sector has improved, bank lending remains cautious. Startups and small firms may struggle to secure funding without collateral or credit history.
Venture capital and alternative finance options exist, but they are less developed than in other EU economies.
Greece enforces strict labor protections, covering everything from contract types to termination rules.
These laws protect workers but can reduce staffing flexibility for employers. Understanding notice periods, work hours, and benefits is crucial before hiring.
Despite recent growth, Greece still faces perception challenges tied to past financial crises.
The domestic market is relatively small, which may limit revenue potential for businesses focused only on local demand. Success often depends on regional or international expansion.
Greece is a member of the European Union and the Eurozone, offering direct access to over 450 million consumers. Its legal system aligns with EU standards, making compliance easier for foreign investors.
The country has invested heavily in digital transformation, logistics, and energy, laying the groundwork for a resilient and scalable business environment.
Investors benefit from predictable regulations, improved banking services, and growing international connectivity.
Incorporating a company in Greece provides several distinct advantages. First, the process is fast and efficient, with minimal documentation required and real-time approval through the TAXISnet platform.
Second, Greece offers attractive corporate tax rates and a variety of investment incentives, particularly for businesses in tourism, energy, technology, and logistics.
Third, forming a private limited company (IKE), the most popular structure, requires minimal capital and offers flexibility for shareholders, making it ideal for both local and foreign entrepreneurs.
Greece imposes a corporate income tax of 22%, applicable to all legal entities operating within the country. In addition, a dividend withholding tax of 5% may apply when profits are distributed to shareholders.
Companies are also subject to VAT, social contributions, and other sector-specific taxes depending on their activities.
All companies must maintain double-entry bookkeeping and keep digital records through certified accounting software.
Entities exceeding certain thresholds must also appoint auditors and submit audited financial statements annually.
Records must be stored securely and made available for inspection by Greek tax authorities upon request.
Businesses employing staff must register with EFKA, the social security authority. Employers are responsible for calculating and submitting contributions for pensions, healthcare, and other benefits.
Employment contracts, payroll filings, and workplace regulations must also comply with local labor law standards.
For IKE companies, notary involvement is often not required, which helps reduce costs. Standard state fees, GEMI registration, and publication expenses typically range between €100 to €300.
Additional fees may apply for name reservation, UBO submission, or expedited processing.
Hiring legal and accounting professionals ensures full compliance. Company formation services, including document drafting, tax setup, and advisory support, generally range from €800 to €2,000, depending on complexity and structure.
Ongoing support for accounting, payroll, and compliance is recommended once the company is operational.
eyond registration, you should budget for office space, staff salaries, software tools, and sector-specific licenses. Greece remains cost-competitive, especially when compared to Western Europe.
Initial monthly operational costs can vary from €1,000 to €5,000, depending on your business model and location.
Yes. Non-EU citizens can legally incorporate a company in Greece, either as individuals or through a foreign legal entity. Additional documentation and, in some cases, a visa or local representative may be required.
For Private Companies (IKE), the minimum share capital is just €1, making it one of the most accessible business structures. Other entities, like Société Anonyme (SA), require higher capital, typically starting at €25,000.
With proper documentation and guidance, new company registration in Greece can be completed within 5 to 10 business days. Delays may occur depending on complexity, especially with bank accounts or foreign shareholders.
Popular options include Sole Proprietorship, Private Company (IKE), Limited Liability Company, Société Anonyme (SA), and Branch or Representative Offices. Each structure offers different benefits depending on your business goals.
No. Online company registration in Greece is fully available, and most steps can be handled remotely through a legal proxy. However, some banks may require in-person verification to open a corporate account.
Greek companies must pay a corporate tax of 22%, VAT (if applicable), and withholding taxes on dividends (5%). Social security contributions and local levies may also apply depending on the business activity and employee structure.
Key post-incorporation actions include VAT registration, UBO declaration, hiring an accountant, opening a business bank account, and tracking filing deadlines for tax and financial statements. Employment-related registrations are also required if you hire staff.
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