Company formation in Greece

At a glance

Entity

Private Company (IKE / Idiotiki Kefalaiouchiki Etaireia) — the flexible limited-liability vehicle introduced in 2012, now the default choice for SMEs and foreign founders over the older EPE

Corporate tax

22% flat corporate income tax on profits (unchanged for 2026). Standard VAT is 24%; dividends distributed to shareholders are subject to a separate 5% withholding tax

Incorporation time

~3-5 business days for a clean electronic filing through the e-YMS one-stop-shop; longer if a non-EU founder must first obtain a Greek tax number (AFM) or appoint a tax representative

Minimum capital

EUR 1 (statutory minimum). Capital can be cash, in-kind, or 'guarantee' contributions; there is no meaningful capitalisation requirement

Resident director

No resident director required. The manager (diacheiristis) and members may be foreign individuals or legal entities; 100% foreign ownership is permitted, and a single-member IKE is allowed. Every member and the manager must hold a Greek tax number (AFM)

Audit

Statutory audit only if the company exceeds at least two of three thresholds for two consecutive years: total assets EUR 4,000,000; net turnover EUR 8,000,000; average 50 employees. Small IKEs below these must still prepare and file annual financial statements but are audit-exempt

Remote set-up

Yes — can be formed fully remotely and digitally via the e-YMS one-stop-shop using a standard 'private document' (model articles), with no notary required. A notarial act is needed only where special law requires it or when real estate is contributed as capital. All parties must first obtain a Greek AFM and clear KYC; a power of attorney (usually apostilled) is used where founders act through a local representative

Government fee

EUR 18 unified 'cost of establishment' (grammatio/e-paravolo) for the digital e-YMS route; GEMI registration and chamber registration are handled within the one-stop-shop and are minimal. Ongoing costs include an annual GEMI maintenance fee and mandatory accountant filings

Best for

This suits foreign founders who want a low-cost, low-capital EU limited company with a fast online setup and no local-director requirement, and who can tolerate Greek bureaucracy and monthly accounting obligations.

The process

1. Obtain a Greek tax number (AFM) for each member and the manager; non-residents typically appoint a Greek tax representative and grant a power of attorney (apostilled if signed abroad)
2. Prepare the articles of association as a private document using the e-YMS model, or a notarial deed only if legally required or real estate is contributed
3. File through the electronic one-stop-shop (e-YMS/GEMI), pay the EUR 18 establishment fee; the system auto-registers the company with GEMI, the chamber, the tax office and EFKA and issues the certificate of establishment plus company AFM
4. Open a Greek corporate bank account (in practice the slowest step for non-residents), engage an accountant, and complete VAT/tax registration to begin operating