Articles
Open a Representative Office in Greece
Updated on Wednesday 19th July 2023based on 3 reviews
| Quick Facts | |
|---|---|
| What is a liaison office | A liaison office (or a representative office) is a type of establishment that is set up by a foreign entity with the purpose of carrying out non-commercial activities (it can't generate profits). |
| Incorporation obligations | In order to open a representative office in Greece, investors must: - obtain an approval from the Ministry of Development (issued as a permit); - have a registered address in Greece; - employ minimum 4 employees within the 1st year of activity. |
| Types of activities it can undertake | A representative office can develop activities such as: - consulting services; - marketing services; - advertising services; - data processing; - research and development, etc. |
| Have a registered office in Greece (yes/no) | Yes |
| Registration costs | Outside the standard registration costs (incorporation, lawyers' fee, notary services), the representative office must have EUR 100,000 as yearly expenses. |
| Capital requirements | There are no capital requirements imposed to those who open a representative office in Greece. |
| Duration of the registration process | Approximately 6 weeks. |
| Tax obligations | The entity is required to register for taxation, even though it is not a corporate income tax payer, because certain taxes will have to be paid on monthly/annual basis (for instance, employment taxes). |
| Reporting formalities (yes/no) | Yes |
| Institution in charge with the registration formalities | Ministry of Development, Chamber of Commerce and Industry. |
| Law applicable to liaison offices | Investors can open a representative office in Greece following the regulations of the Law 89/1967. |
| Documents that must be submitted by the parent company | For the incorporation, the entity must conduct standard registration steps: - submitting the parent company's statutory documents; - presenting the registration certificate; - providing information on the shareholders; - submitting the statutory documents of the liaison office; - oferring documents on its registered address in Greece, etc. |
| Licensing requirements | The liaision office must obtain a permit from the Ministry of Development. |
| Appointing an accountat (yes/no) | Yes |
| Services offered by our team | Our consultants can assist foreign investors throughout the initial incorporation steps (the registration of the entity, completing immigration formalities for non-EU/EEA investors) as well as in other matters after the liaison office starts its activity (hiring foreign workforce, representing the office in front of the Greek institutions, reporting, etc). |
What are the characteristics of a Greek representative office?
- establishing new contacts with local businesses;
- analyzing the characteristics of the local market;
- developing marketing-related activities;
- act on behalf of the parent company abroad.
- it must appoint a local representative;
- it must obtain a tax registration number issued by the Greek tax authorities;
- it must conclude certain tax reporting and accounting procedures.
Legal obligations of a Greek representative office
- • it must follow the provisions of the Law 89/1967;
- • it must obtain a permit which grants the authorization to operate in Greece, issued by the Ministry of Development in a period of approximately 2 months after the application;
- • it can only develop activities that are prescribed under the Article 1 of the Law 89/1967 (it contains a list of 15 approved non-commercial activities);
- • it is required have minimum EUR 100,000 as expenses on a yearly basis;
- • it must open a corporate bank account in Greece, a procedure which can be completed in 4 weeks.
Are there any employment obligations in Greece?
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He can assist clients with the entire company registration procedure in Greece.
Call us now at +302111995654 to set up an appointment with our lawyers in Athens, Greece. Alternatively you can incorporate your company without traveling to Greece.
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