Company Creation Overview

Establishment of a Company in Greece

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Greece is located in southeastern Europe and its geographical location makes it a crucial crossroads connecting Europe with Asia and Africa.

 

The Greek economy is based on two pillars of tourism and shipping, which are the most important industries in the country that contribute greatly to GDP, as well as a major source of foreign exchange. Two new emerging industries that are also developing in the past 5 years in the Greek economy are Renewable Energy Sources (RES) and logistics services.

 

 The main types of businesses that can be established in Greece are two:

 

Capital and Personnel

 

Capital

 

1. Societe Anonyme SA in GREECE:

 

Required foundation capital of 60,000 €

The capital divides equities into shares

Long life of the company

Limited liability of partners/shareholders

Making decisions by the majority

Provision of three bodies (General Assembly, Board of Directors, Auditors)

For the establishment of SA, you require a notarial deed with the participation of lawyers as well as various administrative permits.

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2. Limited Liability Company Ltd. in GREECE:

 

Obligation to have a minimum capital of € 4,500 for the establishment

Division of capital into shareholdings consisting of corporate shares with a value multiplied by € 30 per share.

Disclosure obligations at the establishment and onwards

Provision of a specific duration of the company in the statutes, but without the relative lack of making the statute invalid.

Limited liability of the partners

Making decisions by a majority of people and capital

The existence of two bodies (Assembly of Partners and Managers)

The establishment of the EPE requires a notary and representation of a lawyer.

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3. Private Equity Company IKE is a new form of company in Greece:

 

Advantages versus other corporate forms:

It is commercial and has a legal personality

It has minimized the administrative costs of running (attorneys, notaries, and publications)

A minimum capital of one Euro is required

The corporate share is disconnected from the capital

Any type of contribution (capital, labor, or liability guarantee)

Simplifying partner relations and running the company

Flexibility in choosing and changing between a capital form and a personal company

Personal

 

1. Joint venture company in GREECE:

 

No provision for the minimum capital required

Existence of heterogeneous and heterogeneous partners. The general partnerships are responsible for their personal property indefinitely for corporate obligations and limited partnerships are limited to the amount of their contribution to the company.

A limited partnership can be established with a simple private agreement.

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2. General Partnership Company in GREECE:

 

No provision for the minimum capital required

All partners of the joint venture are jointly and severally liable with all their personal property for corporate obligations.

With the company's dissolution, the partners' personal liability for the company's obligations does not cease.

The general partnership may also be established by a private agreement.

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3. Individual Company in Greece:

 

A personal company that the sole partner is responsible for all the debts of the company with its own property

Flexibility in controlling each field and quick decision-making as it depends on one person

No minimum capital is required to establish it

Since the individual enterprise does not have the legal form the foundation time is minimal