Understand the Jurisdictions Setup Requirement Before Proceed Your Greece Company Formation
Greece is a member of the European Union allowing easy access to the Mediterranean countries, Southeast Europe and lands surrounding the Black Sea. If you set up a company in Greece, you will have access to 140 million customers from Southeast Europe and the Middle East. Two significant attractions for investors are low labor costs and low real estate price.
Business Entities of Greece
Local or foreign investors can set up a company in Greece as a partnership, an individual, a joint venture, a limited liability company.
- A limited liability company is ideal for small-sized businesses in Greece. It requires at least one shareholder and one director who may or may not belong to Greece. If the annual turnover exceeds more than 5 million pounds.
- A public limited company is easy to set up which requires a minimum of 1 shareholder and three directors who may or may not belong to Greece. An auditor must submit the annual returns to the government on time. The share capital required to set up a company in Greece by a public limited company is 60,000 Euros.
- A private limited company can be set up through any amount of share capital and requires at least one shareholder or 1 director for incorporation.
- One can set up a branch office in Greece whose responsibility is under the parent company. It is mandatory to appoint a local legal representative along with a director who will be responsible for the company set up.
- Companies can set up a representative office in Greece to study the market but cannot carry out any commercial or profit-making activities.
What are the Steps for Greece Company Formation?
The following are the procedural steps to incorporate a company in Greece:
Choose a unique company’s name. Obtain evidence of the company’s name uniqueness from the Chamber of Commerce and Industry. The company’s investor must submit the relevant documents of the company with the Athens Bar Association. He should also sign the article of incorporation at notary public once he receives the evidence of name uniqueness
Deposit the minimum amount of share capital to the local bank account and obtain the certificate of deposit.
Prepare the following documents for the company’s incorporation:
- Company’s name uniqueness
- Details of directors (Name, DOB, address proof and his nationality)
- Details of the shareholders
- ID proof and residential proof of the investor
Provide the registered address to the tax authorities for physical verification of the premises.
Submission of Article of incorporation.
Register the company with Chamber of Commerce and Industry, state authorities and social services for any administrative approvals.
The process to set up a company in Greece is a simple task. You can complete everything within a few days.
At 3E Accounting United Kingdom, we help you in the Greece company formation without any hassle. We help you in business registration, opening a bank account, setting up an office and hiring you a legal representative. Contact us for more information.