Greek Companies – 4 Ways to Incorporate in Greece
Greek companies take on corporate form in four major business entities in Greece. Each of these business formations requires a very different filing procedure that must be followed precisely to ensure swift approval up front, while also adding the peace of mind of trouble-free operation for years to come. Consult with a European company formation specialist who has a history of using local Greek businessmen trusted in their fields to handle your business incorporation, and your Greek companies will be up and running in no time.
The first type of company formation in Greece is the Eteria Periorismenis Efthinis, or EPE, which is a limited liability corporation. This is a great way for small businesses to develop an overseas name, and requires only 4,500 euros capitalization due at signing, with only half of that required in cash. The minimum number of shareholders for this type of formation is usually two, and this one of the more popular Greek Companies because of the low entry cost and limited liability.
The second type of business entity in Greece is more for the middle to large size corporation. The Anonymos Etairia, or AE, is the equivalent of an American stock corporation, and generally requires a minimum share capitalization of 60,000 euros. This is the filing of choice for major corporations, and does require a board of directors, but is very flexible in many ways, and for this reason is a favorite of those seeking Sole Proprietorship.
The next main form of Greek companies is available either as a General (omorrythmi etairia or OE) or Limited (eterorrythmi etairia or EE) Partnership. Partnerships tend to be favored more in the EE limited liability form for obvious reasons, and each type of partnership requires two partners and no minimum capitalization, although 1,000 euros is usually deposited as a good-faith posturing. Partnerships in Greece have a much lower level of regulation than other Greek Companies, and this, coupled with the low cost of entry, makes for a very attractive business corporation.
The final possible business formation in Greece is the physical Branch. Local staffing minimums must be met, and Greece currently has a very high level of unemployment, with highly educated and skilled laborers available through the right recruitment service. Contact a business formation specialist with local staffing experts in Greece to handle this aspect of Branch office ownership. A bank guarantee may be required, the foreign or parent company is responsible for all tax and legal requirements of the branch, and fluctuating Greek capital share requirements must be met.
These very diverse Greek companies give every foreign investor just the right fit for their European company formation goals, but each has its own specific set of national and local requirements. Contact a European corporation specialist with respected attorneys, accountants and business professionals on the ground in Greece, and your foray into Greek companies will be a guaranteed success.
For more information on Greek companies, feel free to contact us using any of the methods at the top right of this page.