Establish a branch in Greece

Updated on Wednesday 06th February 2013

According to the Article 50 Law 2190/20, Article 57-58 Law 3190/55 and the Presidential Decree 360/93 of the Greek legislation, the foreign companies which may open branches in Greece are foreign companies limited by shares with the share capital of minimum 60,000 Euros or the limited liabilities companies with a share capital of at least 4,500 Euros.

A permit must be received before registration of a branch in Greece from the Industry, Commerce and Natural Resources Department (Prefectures Government). The applicant must deposit de following documents in order to receive it: an application, the certificate of registration of the foreign company, a certificate proving the share capital of the foreign company, a criminal report extract , the decision of opening a branch, foreign company’s address, the notary act of appointment of the branch’s representative, proofs of fee payments (payments to the Public Fund Duplicate and the Fund of National Printing Office Employees), a residence permit for the representative and a work permit if the representative is not from Greece.

Even though is not considered a legal entity, a branch must be registered before starting any commercial activities.

In order to do that, the following documents must be submitted to the General Secretariat of Commerce: the decision of opening a branch in Greece, the articles and the memorandum of association of the foreign company, the certificate where the share capital of the foreign company is stated, a certificate which proves that the foreign company is not in the process of liquidation, the act of appointment of an authorized representative of the branch, the proof of identification of the legal signatories of the foreign company, the proof of tax payment for the publication in the Government Gazette, the branch name and its registered address, jurisdiction of the foreign company. If the foreign company is not from an EU country member, the work permits and the residents’ permits must be submitted.

All the above documents must be certified and followed by an official translation in Greek.

Every change in the branch’s or the foreign company’s status must be reported to the Prefecture. Also a report regarding its operations must be issued every year.

The balance sheet of the foreign company must be deposited every year along with the taxation statement of the branch at the competent Greek authorities.

Also, the branches established in Greece must pay VAT and taxes on profits that’s why it’s mandatory to register at the tax authorities after receiving the certificate of registration from the Chamber of Commerce and Industry of Greece.

Partner: Firmengründung in Griechenland

Meet us in Athens

Call us now at +44 203 287 0408  to set up an appointment with our lawyers in Athens, Greece. Alternatively you can incorporate your company without traveling to Greece.

As a BridgeWest client, you will beneficiate from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Greece.

We recommend ClientPedia

This website is marketed by ClientPedia

banner Clientpedia.jpg