Company incorporation in Greece is attracting a growing number of international entrepreneurs, and for good reason. Greece has streamlined its registration processes, offers competitive tax incentives, and provides strategic access to both European and global markets. With a modern legal framework and fully digital procedures, Greece now ranks among the most accessible countries in Europe to launch and operate a business.
Whether you're looking to expand your global footprint or start fresh, Greece is a smart move. Let’s explore why more investors are setting their sights on this Mediterranean gateway for international business.
Company incorporation in Greece: why more investors are choosing this destination
In recent years, Greece has made significant strides in becoming business-friendly, with initiatives aimed at reducing bureaucracy and enhancing transparency.
The incorporation process can now be done entirely online, cutting setup time and costs.
Beyond logistics, investors are drawn to Greece’s strategic location at the crossroads of Europe, Asia, and Africa. This makes it an ideal hub for companies looking to serve multiple markets with seamless global execution.
Additionally, its skilled workforce, improving infrastructure, and growing support for innovation have positioned Greece as a compelling option for both startups and established businesses.
A brief overview of Greece as a business location
Greece is a member of the European Union and the Eurozone, offering direct access to over 450 million consumers. Its legal system aligns with EU standards, making compliance easier for foreign investors.
The country has invested heavily in digital transformation, logistics, and energy, laying the groundwork for a resilient and scalable business environment.
Investors benefit from predictable regulations, improved banking services, and growing international connectivity.
Why incorporate a company in Greece?
Incorporating a company in Greece provides several distinct advantages. First, the process is fast and efficient, with minimal documentation required and real-time approval through the TAXISnet platform.
Second, Greece offers attractive corporate tax rates and a variety of investment incentives, particularly for businesses in tourism, energy, technology, and logistics.
Third, forming a private limited company (IKE), the most popular structure, requires minimal capital and offers flexibility for shareholders, making it ideal for both local and foreign entrepreneurs.
High-growth sectors in the Greek market
Several sectors in Greece are experiencing rapid growth and attracting foreign direct investment. These include:
- Renewable energy, especially solar and wind power
- Tourism and hospitality, including real estate and luxury experiences
- Shipping and maritime services, leveraging Greece’s global leadership in this industry
- Agri-food and export-oriented agriculture, known for high-quality, competitive products
- Tech and innovation, supported by EU funding and startup incentives
For investors looking to expand their worldwide operations with confidence, Greece offers both opportunity and support.
It's not just about starting a business, it's about growing it from A to Z in a dynamic, global-ready environment.
What types of business entities can you set up in Greece?
Greece offers several legal structures tailored to different business needs, from individual entrepreneurs to international corporations.
Choosing the right entity depends on your goals, liability preferences, and investment size.
Sole proprietorship
A sole proprietorship is the simplest form of business in Greece.
It's ideal for freelancers or small business owners and requires only a Greek Tax Identification Number (TIN). Liability is personal and unlimited.
Limited liability company (IKE)
The IKE is the most popular legal form for startups and SMEs. It combines limited liability with a simplified setup and management structure. Just €1 of capital is enough to incorporate.
Private company (IKE)
Often used interchangeably with the limited liability company, this structure allows flexible governance and minimal bureaucracy.
It's well-suited for foreign investors looking to establish a new company registration in Greece quickly.
Société Anonyme (SA)
The Société Anonyme (AE) is designed for larger businesses. It requires higher capital and follows stricter regulatory standards, but it enables public shareholding and greater scalability for international operations.
Branch office or representative office
Foreign companies can open a branch office in Greece to operate under their existing legal entity.
A representative office, on the other hand, cannot perform commercial activities but may conduct market research or liaison functions.
6 Advantages of registering a company in Greece
As a long-standing member of the European Union and Eurozone, Greece offers companies full access to the EU single market. This allows for the free movement of goods, services, and capital without customs duties or major regulatory obstacles.
For businesses targeting Europe-wide expansion, this eliminates the need to set up separate entities in each country.
Greece’s location at the junction of Europe, Asia, and Africa makes it a powerful strategic base for international operations. It offers direct access to emerging markets in the Balkans, Middle East, and North Africa.
This makes Greece especially attractive for logistics providers, export-driven companies, and regional hubs.
The country boasts a highly educated talent pool, with strong competencies in IT, finance, engineering, and international business. English proficiency is widespread among younger professionals.
Many graduates return from abroad with international experience, strengthening Greece’s position as a competitive destination for knowledge-based industries.
Greece has overhauled its corporate regulations to support faster, more flexible company setups. The Private Company (IKE) structure enables incorporation with minimal capital and fewer formalities.
The shift to digital platforms like GEMI has also reduced bureaucracy, making it easier to start and manage a company entirely online.
Greece actively supports investment through a range of state and EU-backed incentives. These include tax reductions, grants, and hiring subsidies, especially for sectors such as tourism, green energy, tech, and R&D.
Businesses aligned with national growth priorities can benefit from substantial financial support.
Operating in Greece is significantly more cost-efficient than in many Western European countries. Labor costs, office rentals, and living expenses are lower, which reduces your overhead without compromising on quality.
This makes Greece a smart choice for startups, SMEs, and international companies seeking a lean, scalable base in Europe.
6 Disadvantages of registering a company in Greece
Although Greece has made strides in digital transformation, bureaucratic procedures can still be complex, especially in sectors requiring permits or regulatory approvals.
Public sector interactions may involve delays or inconsistencies, making local legal or administrative support essential.
Greece’s tax framework is often revised, creating uncertainty for long-term planning.
Businesses must stay alert to new rules and reforms, especially as they relate to deductions, thresholds, and compliance. Working with a professional tax advisor is highly recommended.
The standard VAT rate is 24%, placing Greece among the highest in the EU.
In addition, social security costs are considerable, with employers contributing over 25% and employees around 16%. These obligations can weigh heavily on labor-intensive businesses.
While the financial sector has improved, bank lending remains cautious. Startups and small firms may struggle to secure funding without collateral or credit history.
Venture capital and alternative finance options exist, but they are less developed than in other EU economies.
Greece enforces strict labor protections, covering everything from contract types to termination rules.
These laws protect workers but can reduce staffing flexibility for employers. Understanding notice periods, work hours, and benefits is crucial before hiring.
Despite recent growth, Greece still faces perception challenges tied to past financial crises.
The domestic market is relatively small, which may limit revenue potential for businesses focused only on local demand. Success often depends on regional or international expansion.
Step-by-step guide to incorporating a company in Greece
Establishing a business in Greece is now faster and more efficient than ever.
With digital platforms and a reformed legal system, the business incorporation process in Greece can often be completed in just a few days, if approached correctly.
Here’s a clear, actionable breakdown of the steps to register a company in Greece, from legal setup to operational readiness.
Selecting the appropriate legal entity is essential. For most small to mid-sized businesses, a Private Company (IKE) offers flexibility and minimal capital requirements.
Larger corporations may opt for a Société Anonyme (SA), which allows for public shareholding.
The decision depends on factors like liability, future expansion plans, and investor participation. Taking time at this stage will help avoid structural issues later on.
Once the structure is selected, you must reserve a unique business name through the online GEMI portal.
The name should not conflict with existing entities and must comply with Greek naming regulations.
This reservation is typically processed quickly, but it's a mandatory step before proceeding with formal registration.
The Articles of Association define your company’s internal governance, purpose, and shareholder roles. For IKEs, simplified templates are available, but custom articles may be needed depending on your business model.
In many cases, these can be prepared and submitted digitally, without the need for physical notarization, especially for standard formations.
Your next step is to formally register the company with GEMI, Greece’s General Commercial Registry.
This process creates your legal presence and assigns a GEMI number, required for all future business dealings.
Thanks to online platforms, this registration can often be completed in real time, especially for standard IKE formations.
Every company must register with the Independent Authority for Public Revenue (AADE) to receive a Tax Identification Number (AFM).
This step is essential for issuing invoices, opening bank accounts, and filing taxes.
Foreign nationals can now complete this process remotely via the myAADElive platform, making online company registration in Greece highly accessible from abroad.
If your company plans to employ staff, or if you're a managing partner drawing a salary, you’ll need to register with EFKA, Greece’s unified social security fund.
This ensures compliance with national labor laws and provides access to benefits such as pensions, healthcare, and maternity leave.
Contributions vary depending on employment terms and structure.
Once your company is fully registered and tax-compliant, you can open a corporate bank account in Greece. Most banks will require your GEMI certificate, AFM, Articles of Association, and proof of identity for directors and shareholders.
Some institutions also request a business plan or projected cash flow documents, especially for non-resident investors.
Local representation may be helpful to streamline this final step.
What documents are required for company registration?
To complete the company registration in Greece, specific documentation must be submitted. Having these ready in advance will streamline the process and reduce potential delays during legal and administrative checks.
Below are the key documents typically required during the business incorporation process in Greece.
Identification documents of founders
All shareholders and directors must provide valid identification documents, such as a passport or national ID. For non-EU nationals, certified translations into Greek may be required.
In some cases, a Greek Tax Identification Number (AFM) is also necessary at this stage.
Proof of registered office address
You must provide evidence of a business address in Greece. This can be a lease agreement or a property ownership document. The address will serve as your official headquarters for legal and tax purposes.
Virtual offices may be accepted under certain conditions, particularly during the initial setup phase.
Articles of Association
This legal document outlines your company’s purpose, structure, management rules, and responsibilities of shareholders.
Depending on the entity type, standardized templates may be available or custom drafting might be needed.
The Articles must be signed and submitted during registration, either digitally or in notarized form.
Founders' resolution (if applicable)
If the company is established by another legal entity or a group of founders, a formal resolution may be required. This document confirms the decision to incorporate and designates the legal representative in Greece.
It must be legally validated and often accompanied by official translations.
The Greek banking system: what to expect
Greece’s banking sector has stabilized in recent years, offering modern digital services, corporate financing tools, and multilingual support.
However, procedures can still be rigorous for foreign investors, particularly those outside the EU.
Banks are legally required to perform Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, which can extend processing times.
It’s advisable to work with a local advisor or legal representative who can liaise directly with bank officers and ensure all documentation is in order.
Opening a corporate bank account in Greece
To operate legally, every company must open a corporate bank account with a licensed Greek bank. This account will be used for capital deposits, business transactions, and tax-related payments.
Each bank has its own onboarding process, but most offer both in-branch and remote onboarding options for corporate clients, especially when supported by a Greek legal proxy.
Common requirements and procedures
Expect to present the following to open the account:
- Certificate of company registration (GEMI)
- Articles of Association
- Tax Identification Number (AFM)
- Identification of shareholders and directors
- Proof of registered office address
- A brief business plan or company profile (in some cases)
Opening a bank account is typically the final step of the new company registration in Greece, and completing it ensures your business is fully operational.
Compliance, accounting, and taxes in Greece
After your company registration in Greece is complete, your obligations as a business owner begin. Staying compliant with tax, employment, and reporting regulations is essential to ensure smooth operations and avoid penalties.
Here’s a breakdown of the key requirements and actions you need to manage post-incorporation.
Overview of tax obligations and corporate tax rate
Greece imposes a corporate income tax of 22%, applicable to all legal entities operating within the country. In addition, a dividend withholding tax of 5% may apply when profits are distributed to shareholders.
Companies are also subject to VAT, social contributions, and other sector-specific taxes depending on their activities.
Required bookkeeping and audit rules
All companies must maintain double-entry bookkeeping and keep digital records through certified accounting software.
Entities exceeding certain thresholds must also appoint auditors and submit audited financial statements annually.
Records must be stored securely and made available for inspection by Greek tax authorities upon request.
Social security and employment-related compliance
Businesses employing staff must register with EFKA, the social security authority. Employers are responsible for calculating and submitting contributions for pensions, healthcare, and other benefits.
Employment contracts, payroll filings, and workplace regulations must also comply with local labor law standards.
Post-incorporation checklist: what comes next?
Register for VAT (if applicable)
If your company exceeds the VAT threshold or operates in VAT-liable sectors, you must register with the Independent Authority for Public Revenue (AADE). The standard VAT rate in Greece is 24%, with reduced rates in specific sectors.
VAT registration enables you to issue valid invoices and reclaim input VAT.
Submit UBO (Ultimate Beneficial Owner) declaration
Every newly incorporated entity must declare its Ultimate Beneficial Owners through the General Commercial Registry (GEMI). This promotes transparency and is mandatory under anti-money laundering regulations.
Failing to submit this declaration on time may result in fines or restrictions on company activities.
Hire an accountant and auditor
Hiring a certified accountant is not just recommended, it’s essential. Greek tax law is complex, and filings must be submitted electronically through the government’s TAXISnet platform.
Depending on your company size, an auditor may also be required to review your financials and ensure compliance with national and EU standards.
Track annual filing deadlines (financial statements, taxes)
Companies must file annual financial statements, corporate tax returns, and other reports by specific deadlines. These vary based on company type and revenue.
Missing deadlines can lead to penalties, legal issues, and loss of good standing. A local compliance advisor can help you stay on track year-round.
Visa requirements for foreign company owners
Foreign investors planning to relocate to Greece or manage their company on-site should consider appropriate visa and residency options.
Types of visas available for business owners
Entrepreneurs can apply for a national visa (Type D) for business activities. This allows you to reside in Greece while managing your enterprise and exploring investment opportunities.
Other options include the Start-up Visa and Golden Visa, depending on the size and nature of your investment.
Residency options through company formation
Incorporating a business can support a residency permit application, especially if you create jobs or demonstrate long-term economic contribution.
With the right structure and guidance, you can transform your Greek company into a gateway for European residency and mobility.
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Estimated timeframe to register a company in Greece
Registering a private company in Greece is faster than ever thanks to digital platforms and streamlined procedures. Still, the exact timeline depends on the company type, the documentation provided, and how efficiently each step is handled.
With proper preparation and expert guidance, the process can be completed in as little as 5 to 10 business days.
Typical registration process timeline
For most businesses, particularly Private Companies (IKE), the setup includes name reservation, drafting articles, tax registration, and bank account opening. Standard timelines range from one to two weeks for full activation.
Delays typically occur at the tax or banking stages, especially if founders are non-residents.
Documents needed and administrative checkpoints
Key checkpoints include GEMI registration, AFM issuance, and UBO declaration. The documents required for company registration in Greece must be submitted in the correct format, often with certified translations.
Having everything ready and validated from the start significantly reduces friction during setup.
Cost of incorporating a company in Greece
Launching a company in Greece involves both government fees and optional professional services. While costs are moderate by European standards, having a clear budget is essential for planning.
Government and notary fees
For IKE companies, notary involvement is often not required, which helps reduce costs. Standard state fees, GEMI registration, and publication expenses typically range between €100 to €300.
Additional fees may apply for name reservation, UBO submission, or expedited processing.
Professional and legal service costs
Hiring legal and accounting professionals ensures full compliance. Company formation services, including document drafting, tax setup, and advisory support, generally range from €800 to €2,000, depending on complexity and structure.
Ongoing support for accounting, payroll, and compliance is recommended once the company is operational.
Other startup-related expenses (office, staff, software)
Beyond registration, you should budget for office space, staff salaries, software tools, and sector-specific licenses. Greece remains cost-competitive, especially when compared to Western Europe.
Initial monthly operational costs can vary from €1,000 to €5,000, depending on your business model and location.
How C2Z Advisory makes Greek incorporation seamless
At C2Z Advisory, we specialize in end-to-end company registration in Greece for international entrepreneurs and corporate clients.
Our team ensures you meet every legal, tax, and administrative requirement, without the guesswork.
We provide From A to Z support, leveraging our global reach and local expertise to accelerate your entry into the Greek market. Whether you’re setting up remotely or on-site, we handle the process with precision and speed.
By partnering with us, you’ll benefit from a seamless global execution strategy designed to help your business launch strong and scale fast in Greece and beyond.
Frequently asked questions
Yes. Non-EU citizens can legally incorporate a company in Greece, either as individuals or through a foreign legal entity. Additional documentation and, in some cases, a visa or local representative may be required.
For Private Companies (IKE), the minimum share capital is just €1, making it one of the most accessible business structures. Other entities, like Société Anonyme (SA), require higher capital, typically starting at €25,000.
With proper documentation and guidance, new company registration in Greece can be completed within 5 to 10 business days. Delays may occur depending on complexity, especially with bank accounts or foreign shareholders.
Popular options include Sole Proprietorship, Private Company (IKE), Limited Liability Company, Société Anonyme (SA), and Branch or Representative Offices. Each structure offers different benefits depending on your business goals.
No. Online company registration in Greece is fully available, and most steps can be handled remotely through a legal proxy. However, some banks may require in-person verification to open a corporate account.
Greek companies must pay a corporate tax of 22%, VAT (if applicable), and withholding taxes on dividends (5%). Social security contributions and local levies may also apply depending on the business activity and employee structure.
Key post-incorporation actions include VAT registration, UBO declaration, hiring an accountant, opening a business bank account, and tracking filing deadlines for tax and financial statements. Employment-related registrations are also required if you hire staff.