Greek Companies – Political Turmoil Creates Attractive European Company Formation Possibilities
Forming Greek companies now may seem like a bad idea, considering the political turmoil currently making daily headlines. But many a foreign investor has moved into areas of great friction and made their fortune. During the Great U.S. Stock Market Crash of 1929, many wise investors were calmly moving in and developing positions that made them wealthy over the next several years. Is Greece the most stable of the European Union countries? No, they are not, and therein lies the attraction.
The ultimate key to understanding the machinations of the Greek business world during such hectic times is to have Greek employees who talk daily to the business, political and legal professionals in their day to day business comings and goings. Attempting to form Greek companies without trusted local professionals respected and well known in your chosen incorporation locale is not recommended.
Currently, Greek companies filed as partnerships, one of the four corporate entities available to foreign investors, have almost no regulatory intervention, and require no professed share capital. And if you hire a European company formation firm without local knowledge of the customs prevailing in Greece, you would never know that while there is no required share capital “in writing”, a 1,000 euro minimum has been the unwritten rule for Greek companies filing as partnerships for years.
This cultural knowledge only comes about from years of working in the very country you desire to incorporate in, taking advantage of the business knowledge that can only be gained from living in the business climate where you are attempting to file..
Forming Greek companies can be simplistic and quickly handled, or very intricate and time-consuming. It depends entirely on the business entity you are trying to form, and what goals you have in mind for your company. Opening a branch office in Greece requires no formal accounting requirements, but must have a local representative. A limited liability corporation, or EPE, has very liberal liability statutes, and only requires capitalization to the tune of $4,500 euros, but must be paid in full at filing, with a minimum of 50% in cash, but that is only currently. These financial requirements are likely to change as the political climate stabilizes, and the exact nature of your investment and filing procedures can only be known by a local.
Now is a very hectic time in Greece, and an absolutely perfect time to form Greek companies. Because of the political and financial instability, business filing requirements are often relaxed, or at least minimized. Talk with a European Company formation specialist today, and capitalize on the turmoil in Greece by opening Greek companies that provide liberal benefits for years to come.
For further information on Greek companies or to speak to an expert, feel free to contact us, as you please, with the various methods above and to your right.