Company Act Greece

The Greek legal system is based on the French system. As a result many forms of the Greek types of companies resemble the French ones (and most of the European ones).

Anonimi Etairia resembles with Societé Anonyme, Sociteté Eterorithmi Etairia E.E. is the equivalent for Sociteté en Commandité, Omorithmi Etairia O.E. has the French equivalent Societé en Nom Collectif and Etairia Periorismenis Efthinis (E.P.E.) is the equivalent for Societé à Responsabilité Limité (S.A.R.L.)

In 1980 Greece adopted the European directives regarding business law (after becoming an EU state) in addition to the Greek company law.

Etaireia or the business associations in Greece is regulated by the disposal of the Second Book of the Civil Code: the civil partnership is an agreement between the partners for the purpose of following a common aim.

 If the goal is economic, then the company becomes a judicial entity if certain publicity requirements are fulfilled.

Other kinds of business associations are covered by the Commercial Code and related laws.

The main types of Greek companies are regulated by the Commercial Law, the Civil Code, the Law 3190/1955 and the Law 3604/2007.

The limited liability company-E.P.E is ruled by the Law No. 3190/1955. This law, in order to comply with the Directives of the EEC Council, has been amended by Presidential Decree Nos. 419/1986 and 279/1993.

The main features of the limited liability company in Greece are that it may be formed by one or more legal or natural parties and it’s governed by the Articles of Association.

The partnerships (General Partnership, Limited Partnership and Silent Partnership) are governed by the Commercial Law and The Civil Code, and requires a comprehension between at least two partners.

Axiografa represents all types of commercial paper: checks ,commercial cash policy, deposit receipts ,bills of lading, promissory notes and promissory notes and are governed by the Legislative Decree of July 17, 1923 “On Special Provisions on  Corporations”.

Greek legislation covers the procedures whereby a foreign company wants to open a branch in Greece by Arts 57-58 of the Greek Limited Liability Companies Act (Law 3190/55) and by Art. 50 Greek Companies Act (Law 2190/20).

First step for a foreign company to open a branch in Greece is to apply a tax reference at the tax office where it belongs. Also establishing subsidiary future domicile with the Prefecture is requested.

After sending this, along with other requested documents, a new tax reference is received by the foreign company and the subsidiary can start the business.

Partner: Firmengründung in Griechenland