Greece

Company formation in brief

Greek legislation allows registration of any type of enterprise in which foreigners can own 100% of the capital and take part in their management and the most popular can be classified as follows:

• Open joint stock company (A.E.)

• Closed limited liability company (E.P.E.)

• Limited and unlimited partnership

Open Joint Stock Company (A.E.)

Incorporation of an open joint stock company needs a minimum capital of 60,000 Euro, which must be paid within one month from the date of the company’ registration.

The company shall have at least two shareholders and is governed by a board of directors consisting of at least 3 members, the majority of which must residents of the European Union.

Private Limited Liability Company (E.P.E.)

This form of business organization in Greece has the following features:

•      a minimum capital of 18,000 Euro, half of which must be paid in cash at the time of company registration;

•      a minimum number of shareholders is two. It can also be incorporated by one shareholder, but the company name in this case must include the phrase "one person limited liability company";

•      a single director can run the company. The director must be a resident of the European Union.  

Partnership

General partnership with unlimited liability has the following features:

•      all partners are of equal rights (general partners) and bear full and unlimited liability for all debts and obligations of the partnership;

•      the partners are not free to transfer their shares to third parties without a consent of the other partners;

•      the partnership is managed by general partners themselves.

A limited liability partnership has the following features:

•      the partnership consists of general partners and limited partners.

•      general partners are of equal rights (general partners) and bear full and unlimited liability for all debts and obligations of the partnership;

•      limited partners have limited liability for debts and obligations of the partnership;

•      the partners are not free to transfer their shares to third parties without a consent of the other partners;

•      the partnership is managed by general partners themselves. If limited partners take part in the management, they lose their limited liability status and bear unlimited liability along with the other general partners.

Registration formalities related to all legal forms of enterprises in Greece are the following:

•      approval of the name by the Greek Chamber of Commerce;

•      notarization of the memorandum of association;

•      registration in the court of first instance in Greece;

•      registration in the Register of Companies of Greece;

•      payment of a registration fee in the amount of 1% of the declared capital of the partnership;

•      publication in the official gazette of Greece.

Greece Double Taxation Agreements

Albania, Armenia, Austria, Azerbaijan, Belgium, Bosnia and Herzegovina, Bulgaria, Canada, China, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Georgia, Germany, Hungary, Iceland, India, Ireland, Israel, Italy, Korea, Kuwait, Latvia, Lithuania, Luxembourg, Malta, Mexico, Moldova, Morocco, Netherlands, Norway, Poland, Portugal, Qatar, Romania, Russia, San Marino, Saudi Arabia, Serbia, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, USA, Uzbekistan.

99 classical offshore, onshore and midshore jurisdictions of Europe, America, Middle East, Asia, Africa and Oceania

UK
Malta
Seychelles

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