The most often preferred form of business in Greece for small and medium entrepreneurs is the E.P.E, or Etaireia Periorismenis Efthinis. Basically the costs and the waiting time are lower for setting up of a Limited Liability Company in Greece.
It takes two partners, natural or legal persons, and a minimum share capital of 4500 euro to establish this type of business (at least half must be paid up in cash at the formation).
If one of the partners, the director, is not an EU resident he/she must have a residence permit.
The first step in establishing a Greek limited liability company is choosing the name and checking it at the competent Chamber of Commerce. If the name is available is reserved and a registration certificate is issued.
After this process, the Articles of Incorporation and other supporting documentation must be prepared by a competent lawyer. The Articles of Association must be signed in front of a Public Notary by the founders or through Power of Attorney. Along with the Articles of Incorporation, the entrepreneur must submit the Taxation Identification Number, taxation permits for the founders.
The next step is checking at the Chamber of Commerce and Industry the original copy of the Articles of Association .Afterwards, the registration in the Book of Limited Liability Companies of the Articles of Incorporation within one month from its signature is required.
A summary of the Articles of Association must be published in the Government Gazette.
The last step is to register at the competent Greek Chamber of Commerce and Industry. The application issued by the Registrar Department of the Chamber must be sent along with: photocopies of the identity (cards or passports) of the partners (also the working and residence permits if the partners are not EU residents), the Government Gazette with the summary of the Articles of Associations and the certified copy of the Articles of Incorporation.
Liability of shareholders in a Greek E.P.E depends on invested capital.
The General Meeting of the shareholders is the main mechanism governing the limited liability companies in Greece. To approve the financial statements, a general meeting must be held within six months of the end of the tax year.
The Greek LTD’s activity may also be conducted by an appointed director.
Partner: Firmengründung in Griechenland