Types of Greek Companies
In Greece, there are two major forms of business: companies (A.E - company limited by shares, E.P.E-limited liability company) and partnerships (O.E-general partnership, E.E-limited partnership, silent partnership).Also, there are other forms a business can take: joint ventures, single traders, branch offices of foreign companies.
The major forms of business in Greece resembles with the French equivalent because in the 19th Century the system was copied from the French Commercial Law.
Company Limited by shares - A.E
The Company Limited by shares in Greece, or Anonymous Etaireia, is the most favorable form a Greek business can take (especially for for the banking and market). The minimum share capital of 60000 euro must be fully paid up and the own capital is in shares with nominal value from 0.30 euro to 100 euro.
The amount of equity invested decides the liability of the shareholders.
Limited Liability Company – Etaireia Periorismenis Efthinis (E.P.E.)
The Limited Liability Company in Greece is preferred by small and medium size companies because of the low minimum share capital required (4,500 euro) and fewer formalities asked for establishing it.
Like in the Company Limited by shares the liability of the shareholders is determined by the amount of invested capital.
General partnerships consist of at least two partners whose responsibility is unrestricted. The greatest advantage of the O.E in Greece is that there is no minimum capital required.
If is stipulated in the agreement, the partners can decide who will be responsible for the management of the partnership and agree how the losses will be covered and the profits will be shared. If the agreement doesn't contain this information than the partners are equally responsible for the management decision and will share the profits and the losses.
The Limited Partnership is formed by two or three partners, with no minimum capital required. At least one of them is the limited partner and its liability depends on the amount of the contribution. He has no management responsibility.
Minimum one is the general partner, and it’s responsible for the company’s management.
The Greek Silent Partnership is formed by one silent partner (with liability that depends on the invested capital and with possibility to enter into business trades) and one active partner (with unlimited liability and with capacity to gain trade identity)
The main difference between a joint venture and a partnership is that a joint venture is not requiring a relationship without interruption between the members.
It is formed by legal or natural persons who follow a particular transaction for a mutual benefit.
Greek single traders have full liability for the debts of their companies and may benefit from gains produced by it.
Branch Offices of Foreign Companies
For opening a branch in Greece, some documents (officially translated into Greek) must be submitted for approval: constitutional documents of the parent company, a certificate from the Chamber of Commerce certifying that the parent company is in good form, a certificate attesting the share capital, statement of the registered office of the subsidiary, minutes of the Board of Directors meeting which gave one of the members power of investing power attorney and point a process agent.
Partner: Firmengründung in Griechenland