Deciding to establish a company in Greece is a significant entrepreneurial move, whether you are a local investor or a foreign entrepreneur looking to enter the domestic market. Despite potential legal and bureaucratic hurdles, the country presents interesting opportunities thanks to its strategic geographical position, growing investment initiatives, and the dynamism of sectors such as tourism, technology, and logistics.
The first step when forming a company is choosing the legal structure that best suits your business goals. Common options include the Private Company (IKE), the Limited Liability Company (EPE), the Société Anonyme (AE), or the General/Limited Partnership (OE/EE). The selection largely depends on factors such as initial capital, the number of partners, tax treatment, and the level of risk the founders are willing to assume. Once the legal form is selected, the Articles of Association are drafted, specifying essential details such as the company’s name, registered office, scope of activities, and duration.
Registration with the General Commercial Registry (GEMI) follows, along with obtaining a Tax Registration Number (AFM) and access codes to the TaxisNet platform for accounting and tax purposes. In addition, newly established companies should consider registering with any relevant Chambers that govern their sector, while also addressing practical issues like declaring a professional address or signing lease agreements for office or commercial space. Depending on the nature of the business, additional licenses or approvals from competent authorities may be required.
Taxation in Greece has become relatively competitive in recent years, and various investment and development programs offer incentives to attract foreign capital or support startups. Although the bureaucratic process can be time-consuming and demanding, having a clear legal and accounting framework in place, combined with proper guidance, can streamline the process significantly.
Ultimately, setting up a company in Greece requires planning, thorough knowledge of the market’s nuances, and adherence to legal procedures. The potential benefits, however, can be considerable—granting access to a market which, despite occasional challenges, shows growth potential and offers business opportunities across a range of economic sectors.
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