1-Legal requirements
Commercial legislation, company legislation and limited liability company legislation define the procedures relating to the formation of a new company in Greece.
The most recent regulation concerning the formation of a company in Greece is Act no. 3853/2010, entitled "Simplification of procedures for setting up single-member and limited liability companies and other provisions", published in Government Gazette 90A dated 17.06.2010.
The objective of the Act is for companies to be set up within a day thanks to the creation of the General Register of Enterprises.
2-Legal forms of businesses
You must first decide on the legal form of your business based on the following options:
- sole traders (one person);
- corporate companies (two or more people linked by a corporate relationship).
There are four different types of corporate companies:
Public Limited Company (PLC or Société Anonyme - SA)
General Partnership (GP)
Limited Partnership (LP)
Limited Liability Company (LLC or Ltd)
3-Administrative procedures
While start-up procedures differ depending on the type of business, they do include certain common stages.
(a)Company registration
Once you have chosen where the company will be based, the natural (sole trader) or legal persons (corporate company) must register with the local Chamber of Commerce.
You can locate all Greek Chambers on the website of the Central Union of the Hellenic Chambers. Membership application forms are available on the website of each Chamber.
The business premises must be established for the registration of merchants, professionals and craftsmen (sole traders) with the competent insurance body.
Any employer recruiting an individual registered under the ΙΚΑ-ΕΤΑΜ insurance scheme, must become registered under the IKA-ETAM Employers' Registry. The Public Administration National Gateway allows for online submission of the required applications.
(b)Obtaining a Tax Identification Number
You must then apply for a Tax Identification Number at the relevant Tax Office. The addresses and contact details of tax offices located throughout the country are available through internet.
Transactions between citizens, enterprises and the different services of the Ministry of Finance can now be carried out through the TAXISNET service (via the online submission of periodical or annual VAT return statements, as well as the submission of quarterly summary tables for intra-community acquisitions/supplies (VIES) or through TAXISphone.
For certain profession categories the issuance of a Licence to Practise is essential for the commencement of any business activity. Examples of professions falling under these categories include those relating to electrical appliances and equipment, cars, motorcycles, aircrafts or professions relating to telecommunication facilities.
The majority of licences to practice a profession as well as special operation licences are issued by the competent Directorates responsible for business activities in the various prefectures. The same authorities are to inform the company on whether or not a special permit is required for its operation, as well as on the required supporting documentation.
The addresses and contact details of Prefectural Administrations operating throughout Greece are available at the address below:
(Source: Your Europe www.europa.eu)