Open A Subsidiary In Greece

Introduction to setting up a Greek subsidiary

Greece is a favourable country for foreign investors looking to establish a subsidiary. It has relatively low labour costs and an advantageous location for reliable business links with southern Europe, the Balkans and the Middle East. In addition, the implementation of a new act (the ‘Simplification of procedures for setting up single-member and limited liability companies and other provisions’) has made the incorporation timescale much shorter.

 

What are the main formalities of a Greek subsidiary?

  • The minimum share capital required for a limited liability corporation (EPE) is €4,500
  • The minimum share capital required for a stock corporation (AE) is €60,000
  • The Memorandum & Articles of Association of the subsidiary
  • The resolution of the parent company detailing its decision to form the subsidiary
  • A registered office in Greece

The documents shown above must be filed with the local Chamber of Commerce in order to register the subsidiary.

All required documents must be certified, apostilled and translated into Greek by a sworn translator.

 

What are the accounting requirements of a Greek subsidiary?

The subsidiary must register for taxation at the local Tax Office in order to obtain a Tax Identification Number.

Introduction of recently updated services means that certain taxation or financial transactions can now be completed online through the TAXISNET service, or on the phone via TAXISphone.

Tax accounts should be filed annually and VAT accounts monthly, in addition to an annual VAT return statement.

Please visit Accountancy in Europe for further information on accountancy services and tax rates in Greece.

Subsidiary Formation Packages

We have a wealth of experience setting up subsidiaries in Greece and can manage the process from start to finish on your behalf. Our subsidiary formation packages include services such as bank account set up, provision of an office, and registration of VAT. The stress of incorporating a subsidiary can be eliminated by putting your formation in our expert hands.

 

For further information on Greek subsidiaries please contact us using the form below.

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The information and any commentary on the law contained on this website is provided for information and guidance purposes only. Every reasonable effort is made to make the information and commentary accurate and up to date, but no responsibility for its accuracy and correctness, or for any consequences of relying upon it is assumed by Open A European Company, its directors , employees or associated websites.

The information and commentary on Open A European Company’s site does not, and is not intended to amount to legal advice to any third party on a specific case or matter. You are strongly recommended to obtain specific, direct legal advice from professional advisers whether these be your own advisers or those that appear on the OpenAeuropeancompany.com site. You should consider taking advice both in the country in which you are domiciled and in the country in which you are seeking to open a company. and not to rely on the information or comments on this site.

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