Company Formation in Greece

OVERVIEW

Incorporation in Greece

Greece occupies a uniquely strategic position at the crossroads of Europe, the Middle East, and North Africa, offering businesses unparalleled access to Mediterranean and Balkan markets alongside full EU Single Market membership. The country has a strong and established presence in shipping — controlling the world’s largest merchant fleet — as well as tourism, logistics, technology, pharmaceuticals, and agriculture.

Why Greece?

Strategic Mediterranean Hub
World Leader in Shipping, Tourism, and Logistics
Full EU Single Market Access —
€1 Minimum Capital
100% Foreign Ownership Permitted
Remote Formation

Requirements

General Requirements for Greece Company Formation

Company Name

Must be unique and approved by GEMI. The name must reflect the company’s legal form (IKE, EPE, or AE). CORPEASE conducts a name availability check prior to filing.

Entity Type

IKE (most common for foreign investors), EPE, AE, or Branch Office

Registered Office Address

A physical Greek business address within a Greek municipality is mandatory for all registered companies. CORPEASE provides a registered office address service in Greece.

AFM (Greek Tax ID)

All founders, directors, and shareholders must hold a valid AFM before GEMI registration can proceed. EU nationals apply via myAADElive; non-EU nationals apply via apostilled POA through a Greek representative. CORPEASE manages AFM applications in the Premium package.

Minimum Share Capital

IKE: €1 (no mandatory paid-up requirement). EPE: €4,500 — at least 50% (€2,250) must be deposited at registration. AE: €25,000 — 25% paid up at registration.

Minimum Shareholders

1 shareholder for IKE and EPE. Minimum 1 shareholder for AE.

Minimum Directors

1 director for IKE and EPE. Board of Directors (minimum 3 members) for AE. No Greek residency or citizenship required.

Foreign Ownership

100% foreign ownership is permitted. No local Greek partner, shareholder, or director is required.1. Certified Copy of a Passport 2. Certified Copy of a Utility Bill (e.g., Gas / Electricity) or Bank Statement (dated within the last 3 months) 3. Selfie (photo of the owner holding their passport)

Owner Identification

1. Certified Copy of a Passport 2. Certified Copy of a Utility Bill (e.g., Gas / Electricity) or Bank Statement (dated within the last 3 months) 3. Selfie (photo of the owner holding their passport)

Articles of Association

For IKE and EPE: a private document (no notary required). Drafted by CORPEASE and submitted electronically through the GEMI portal or the gov.gr One-Stop Shop. For AE: a notarial deed is optional but may be used.

Document Requirement

Remote formation is completed via a Power of Attorney. CORPEASE coordinates the full process including AFM application, Articles of Association preparation, and GEMI filing on your behalf.

Tax Registration

Upon GEMI registration, the company receives its GEMI number and is automatically registered with the local Chamber of Commerce. The company registers with AADE for corporate income tax and activates myDATA (mandatory e-bookkeeping platform). VAT registration is mandatory for companies conducting taxable activities in Greece.

myDATA

All Greek companies are required to use the myDATA electronic bookkeeping system operated by AADE. All income and expense entries must be transmitted electronically to AADE in real time or periodically. CORPEASE advises on myDATA compliance setup.

COMPANY TYPES

Which Company Types We Serve

IKE — Private Capital Company

Introduced by Law 4072/2012, the IKE is the most popular and recommended entity type for foreign investors in Greece. It requires only €1 in minimum share capital, no notary for incorporation, and is registered fully online through the GEMI portal. The IKE offers limited liability, flexible governance, and allows single-member formation.

Best for:

Foreign entrepreneurs and international investors entering Greece
Startups, technology, e-commerce, consulting, and service companies
Businesses seeking the most streamlined and low-cost EU entity structure
Solo founders and partnerships requiring maximum flexibility

EPE — Limited Liability Company

The traditional Greek limited liability company, now largely superseded by the IKE. Requires a minimum share capital of €4,500, of which at least 50% (€2,250) must be paid up at registration. A private document (no notary) suffices for incorporation under recent reforms.

Best for:

Businesses that specifically require the EPE legal structure
Companies with partners who prefer the traditional Greek LLC framework
Mid-sized enterprises requiring a recognised conventional structure

AE — Public Limited Company

The Greek equivalent of a public limited company. Requires a minimum share capital of €25,000 (reduced from €60,000 under Law 4548/2018). A board of directors with at least three members is required. Suitable for large corporations or companies planning to list on the Athens Stock Exchange.

Best for:

Large corporations planning to raise public capital or list on a stock exchange
Companies requiring a formal board governance structure
Joint ventures between large corporate entities

Branch Office

An extension of a foreign parent company operating in Greece. Not a separate legal entity — the parent remains fully liable. Registered with GEMI and requires an AFM for the branch representative.

Best for:

Foreign companies establishing a Greek presence without full incorporation
Short-term or project-based operations in Greece

Comparison

IKE vs EPE vs AE — Which Structure Is Right for You?

IKE

EPE

AE

Branch

Best for

Foreign investors, startups

Traditional LLC structure

Large corps, listed

Foreign extension

Min. share capital

€1

€4,500 (50% paid up)

€25,000

None

Min. shareholders

N/A (parent only)

Min. directors

1 (no residency required)

Board (min. 3 members)

1 representative

Notary required

No — private document

No (optional)

AFM required for founders

Yes — all founders

Yes — representative

Foreign ownership

100% permitted

Parent company

Corporate tax

22%

Dividend tax

N/A

Formation time

3–4 weeks

4–6 weeks

3–4 weeks

Recommended for foreign clients

First choice

If EPE required

If raising capital

Market testing

Our Recommendation

For the vast majority of foreign entrepreneurs, the IKE is the most practical, modern, and cost-effective entity type in Greece. Since its introduction in 2012, the IKE has replaced the EPE as the dominant choice for new company registrations. It requires only €1 in capital, no notary, and is registered fully online through GEMI — making it one of the simplest EU incorporation processes available.

Process

From Enquiry to Operation — Formation Timeline: 3–4 Weeks

A clear, predictable process — so you always know what happens next.

Step one

Free Consultation

We assess your business needs and recommend the right entity type. We provide a full transparent quote with no obligation.

Step Two

AFM Application

All foreign founders and directors must obtain their AFM before GEMI registration. CORPEASE manages the AFM application via apostilled POA for non-EU nationals in the Premium package.

Step Three

Document Preparation

We draft the Articles of Association and all supporting documents. For an IKE, no notary is required — documents are prepared as private agreements and submitted electronically.

Step Four

GEMI Registration & Bank Account

Documents are submitted through the GEMI portal or gov.gr One-Stop Shop. The company receives its GEMI registration number and is enrolled with the local Chamber of Commerce. A Greek bank account is opened for capital deposit where required.

Step Five

Tax Registration & myDATA Setup

The company registers with AADE for corporate income tax and VAT. The mandatory myDATA e-bookkeeping system is activated. The company is fully operational upon completion.

Annual Requirements

Ongoing Annual Obligations

All Greek companies are required to meet the following annual compliance obligations.

Annual Financial Statements

Annual financial statements must be prepared and submitted to GEMI and AADE. IKE companies below certain thresholds may use simplified accounting. Costs vary based on company size and complexity.

Corporate Income Tax Return

Annual return filed with AADE. Flat 22% corporate income tax rate. Due by the last business day of July of the following year.

Dividend Withholding Tax

5% withholding tax on dividends distributed to shareholders.

VAT Returns

Periodic VAT returns filed with AADE. Standard Greek VAT rate 24%; reduced rates of 13% and 6% apply to certain goods and services.

myDATA e-Bookkeeping

All income and expense transactions must be transmitted electronically to AADE via the myDATA platform. Failure to comply results in administrative penalties.

e-EFKA Social Insurance

Directors and administrators are subject to mandatory social insurance contributions registered with e-EFKA. Companies with employees must also register and pay employer contributions.

Office Address Renewal

Registered office address must be maintained at all times. Annual renewal coordinated by CORPEASE as part of the Premium package.

Pricing

See our price list & choose your plan

All prices are in US Dollars. Government fees and third-party costs are included where specified.

Standard

Starting from

US$ 1,999

Includes:

Company name availability check
AFM application assistance for EU nationals
Preparation of Articles of Association and all documents
GEMI registration
Corporate income tax and VAT registration with AADE
myDATA e-bookkeeping setup guidance
All government fees
One set of digital corporate documents (GEMI certificate)

Not included:

Premium

Starting from

US$ 3,499

Everything in Standard, plus:

Recommended for non-EU international clients who require AFM assistance and a Greek registered address — the two most common practical challenges for foreign founders in Greece.

Annual Compliance Services

Office address renewal (included in Premium package; separate arrangement required for Standard)
Annual financial statements — costs vary based on company size and complexity
Corporate income tax return — 22% flat rate
myDATA e-bookkeeping compliance — mandatory electronic transmission of all transactions to AADE
e-EFKA social insurance contributions for directors and employees

Connect with our Experts

You can reach out to a customer support representative or send us an email. We will respond to your request at the earliest time possible.

Under 0 transactions

per month

Starting from

US$ 3,000^/year

You can reach out to a customer support representative or send us an email. We will respond to your request at the earliest time possible.

1-50 transactions

per month

Starting from

US$ 4,000^/year

You can reach out to a customer support representative or send us an email. We will respond to your request at the earliest time possible.

Connect with our Experts

Costs vary based on company size, number of transactions, and complexity. Connect with our Experts — You can reach out to a customer support representative or send us an email. We will respond to your request at the earliest time possible.

FAQs

Frequently Asked Questions

Can a foreigner own 100% of a Greek company?

Yes. Greek law permits 100% foreign ownership of IKE, EPE, and AE entities. No local Greek partner, shareholder, or director is required.

What is the AFM and why is it required?

The AFM (Arithmos Forologikou Mitroou) is the official Greek Tax Identification Number issued by AADE. All founders, directors, and shareholders must hold a valid AFM before GEMI registration can proceed. Without an AFM for each founder, incorporation cannot legally continue.

How do I obtain an AFM as a foreign national?

EU citizens can apply remotely via the AADE myAADElive platform, typically within 1–2 weeks. Non-EU nationals must grant an apostilled Power of Attorney to a Greek representative who applies at the local tax office (DOY) on their behalf. CORPEASE manages this process in the Premium package.

Do I need to travel to Greece to register a company?

No. The entire IKE formation process is completed remotely via the GEMI online portal. CORPEASE manages document preparation, AFM applications, and GEMI filing on your behalf without any travel required.

How long does company formation take?

Formation typically takes 3 to 4 weeks, including AFM obtainment, document preparation, GEMI registration (1–3 business days), and tax registration. AFM processing for non-EU nationals via POA is the main variable in the timeline.

What is the corporate tax rate in Greece?

Greece applies a flat corporate income tax rate of 22%. Dividends distributed to shareholders are subject to a 5% withholding tax.

What is myDATA and is it mandatory?

myDATA is the mandatory electronic bookkeeping platform operated by AADE. All Greek companies are required to transmit their income and expense data electronically to AADE via myDATA. Non-compliance results in administrative penalties. CORPEASE advises on myDATA setup and ongoing compliance.

Is VAT registration mandatory?

Yes. VAT registration is mandatory for all companies conducting taxable activities in Greece. The standard Greek VAT rate is 24%, with reduced rates of 13% and 6% for certain goods and services. VAT registration is included in all CORPEASE packages.

What is the minimum share capital for an IKE?

The legal minimum share capital for an IKE is €1. There is no mandatory paid-up requirement at the time of registration, making the IKE one of the most capital-efficient EU entity types available.

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