Company Formation Cost Calculator Greece

Frequently asked questions

What types of companies can be formed in Greece?

The most common legal forms for businesses in Greece are the IKE (Idiotiki Kefalaiouchiki Etaireia, or Private Company), the EPE (Etaireia Periorismenis Efthynis, or LLC), and the AE (Anonymi Etaireia, or Societe Anonyme / SA). The IKE, introduced under Law 4072/2012, requires only 1 EUR in share capital and is by far the simplest and cheapest to form, making it the default choice for startups and small businesses. The EPE requires 4,500 EUR minimum capital. The AE, used for larger corporations planning to raise equity broadly, requires at least 25,000 EUR in share capital, a board of directors, and more complex governance and reporting requirements.

How long does it take to register a company in Greece?

An IKE can be registered through the GEMI (General Electronic Commercial Registry) digital portal in 1 to 3 business days if all documents are prepared correctly, including identification, address proof, and the articles of association. Larger entities like the EPE or AE typically take 5 to 10 business days because they require notarial deeds and more extensive documentation. Complex structures or foreign shareholder involvement may add weeks for apostilles, translations, and additional clearances. Greece has improved its e-formation process significantly since 2020, and the Hellenic Development Bank support programs have made company formation simpler for tech and innovation businesses.

What are the ongoing annual compliance costs for a Greek company?

After formation, Greek companies face recurring compliance costs including annual GEMI renewal fee (around 10 to 50 EUR depending on size), mandatory annual financial statement publication, bookkeeping by a certified accountant (typically 100 to 400 EUR per month for small companies), annual tax return filing, myDATA electronic invoicing compliance, and VAT return filings (monthly or quarterly). AEs face higher costs due to mandatory statutory audit requirements above certain thresholds. Total annual compliance costs for a small IKE or EPE typically range from 2,000 to 6,000 EUR depending on transaction volume and complexity.

Can a foreign national form a company in Greece?

Yes. EU citizens can form companies in Greece on the same terms as Greek nationals. Non-EU nationals need a valid residence permit or a special investment visa. The company can be fully foreign-owned. Foreign shareholders must provide apostilled or notarised identification documents and, if the company will open a Greek bank account, must satisfy Know-Your-Customer requirements of the Greek bank. A Greek tax number (AFM) is required for all shareholders and directors before the GEMI registration can be completed, and AFM issuance for non-residents requires a visit to a Greek tax office or the appointment of a tax representative.