Greece

Greece officially the Hellenic Republic and known since ancient times as Hellas, is a country in Southern Europe.
Greece is strategically located at the crossroads of Europe, Western Asia, and Africa and shares land borders
with Albania to the northwest, the Republic of Macedonia and Bulgaria to the north and Turkey to the northeast.
Greece is a member of the EU since the 1981st year. It is a member of NATO since in 1952. Of the OECD
member since 1961st year, this makes the country particularly attractive to business.

General information

Area   –   131 957sq. km
Population   –  10 772 967
Capital    –  Athens
Official language   –   Greek
Official currency  –   euro (EUR)
The legal system   –  based on codified Roman law

Legal form of company

– Joint Stock Company
– Limited Liability Company
– A Limited Partnership
– General Partner
– Branches of foreign companies
– Foreign Companies
– Shipping companies

Key specials

Greece has signed agreement on the elimination of double taxation in all EU Member States:
Albania, Austria, Belgium, Bosnia and Herzegovina, Bulgaria, Hungary, Denmark, Germany, Israel, Iceland, Italy,Cyprus, Latvia, Lithuania, Luxembourg, Macedonia, Malta, Netherlands, Norway, Portugal, Romania, Turkey,Finland, France, Croatia, the Czech Republic, Sweden, Switzerland, Estonia, Ireland, Slovakia, United Kingdom, Poland, Serbia, Montenegro, Spain, Slovenia, Liechtenstein.

Corporate legislation

Companies Act under the number 89/67 of 1989, as amended, number 2081 of 1992.

Share capital

Limited Liability Company                     4 000 EUR
Joint Stock Company                          60 000 EUR.

Bank account opening

For Greek companies we offered bank accounts in the following countries:
Latvian
Estonia
Lithuania
Switzerland
Cyprus
Denmark
Saint Vincent and the Grenadines
Belize
Seychelles
Tanzania
Bosnia
Hong Kong
Dubai
The full list of banks you can see here

The main reguirements for the directors and shareholders of the
company  (EAE)

Legal status of    –     a legal person
Founders, shareholders     –      minimum one
Status    –  legal or private person
Residence  –   can be resident for any country the European Union
The Government
Directors   –  minimum one
Status  –    private person
Residence   –  should be residents of Greece or country – member of the European Union
Secretary    –    one (private )

The main requirements for the directors and shareholders of the company  (EA)

Legal status of     –    a legal person
Founders, shareholders     –      minimum two
Status    –  legal or private person
Residence   –  can be resident for any country
The Government     Shareholders or directors meeting
Director’s   –  minimum three
Status  –   legal or private person
Residence   –  must be residents of Greece or country – member of the European Union
Secretary     –   one (private person)

Taxation

All Greek companies have an individual tax identification number TIN
– Value Added Tax(VAT) – 19%
– Income tax:
Private entrepreneurs  – from 5% to 40%
Partnerships – income tax rate  – 25%.
Companies – the income tax rate  – 35%.
The construction companies  -15%

Accountancy

– Annual Report;
– Added tax declaration(monthly,every 2 months,or every 3 months);
Tariffs for accounting services you can find here

Opening information on beneficiaries to government authorities

Not disclosed.
The data revealed that the local agent: company name; legal address of the company; authorized capital of the Enterprise; details of shareholders (address, name); information Directorate (address, name).

Timeframes

New Company registration takes from 1 day.
Shelf companies are available.
For more information, please contact us.