Company Formation in Greece

Last updated: April 2026.

Greece reformed its company law in 2012 around a single vehicle — the IKE (Ιδιωτική Κεφαλαιουχική Εταιρεία), or Private Capital Company — and most new incorporations now use it. Minimum share capital is €1. The corporate income tax rate is 22%, unchanged in the 2026 budget. GEMI (the General Commercial Registry) approves clean IKE filings in 1 to 3 business days through the electronic one-stop-shop. Non-residents can own 100% of a Greek company, and post-2018 reforms cut the end-to-end timeline from a month to under two weeks.

We form Greek IKEs end to end: name reservation, AFM tax-number procurement for each shareholder, articles of association, GEMI filing, AADE registration, myDATA e-invoicing enrolment, and a business bank account introduction. Fixed price, dedicated manager, all government fees included.

Quick facts	Value
Corporate Income Tax	22% (single rate, all entity types)
VAT — standard	24% (reduced 13% / super-reduced 6%)
VAT — small business exemption	Turnover below €10,000 prior year
Minimum share capital — IKE	€1
Minimum share capital — AE	€25,000 (one quarter paid up at incorporation)
Minimum directors / shareholders	1 director, 1 shareholder (can be the same person, can be foreign)
Residency requirement	None for shareholders or directors; tax representative required for non-resident principals
Standard formation time	1–3 days at GEMI; 7–14 days end to end
Government fees	Included in our packages
Language of filings	Greek (we handle)
Currency	Euro (EUR)

Why Form a Company in Greece

Greece is the cheapest EU member state to incorporate in by capital requirement. Three structural advantages stand behind the headline numbers.

€1 minimum capital, no notary requirement for IKE. The 2012 reform that introduced the Private Capital Company stripped out the cost barriers that made Greek formation slow and expensive. An IKE files digitally through the GEMI one-stop-shop, with model articles of association, no minimum capital beyond the symbolic €1, and no notarial deed. For founders comparing CEE and southern-EU jurisdictions, that is the lowest-friction entry into the Single Market.

EU member, full Single Market access. A Greek company is an EU company. It accesses the Parent-Subsidiary Directive, the Interest and Royalties Directive, EU VAT, free movement of services, and reciprocal recognition by every EEA jurisdiction. For non-EU founders looking to plant an EU corporate flag, Greece sits alongside Bulgaria, Cyprus, and Malta as one of the lower-cost gateways.

100% foreign ownership permitted in almost all sectors. Foreign individuals or foreign companies can hold every share of a Greek IKE, EPE, or AE. There is no requirement for a Greek shareholder, no requirement for a Greek-resident director, and no minimum local content. Banking, insurance, energy, defence, and media have sector-specific licensing rules, but the core formation framework is open.

The trade-offs: VAT at 24% is on the high end of the EU, the corporate tax rate of 22% is higher than Cyprus (12.5%), Bulgaria (10%), and Hungary (9%), and from March 2026 every B2B invoice has to clear the AADE myDATA platform — an administrative lift that requires either a certified service provider or the government tools.

Company Types Available in Greece

Greek commercial law gives you five corporate forms in practice. The IKE accounts for the vast majority of new SME incorporations.

IKE (Ιδιωτική Κεφαλαιουχική Εταιρεία — Private Capital Company)

The default vehicle for almost every cf24 client. Limited liability up to the share capital. Minimum €1 in capital — symbolic but functional. One shareholder and one director are sufficient; both can be the same person and both can be non-residents. The IKE files digitally through e-YMS using model articles, with no notary involvement. Annual filings: tax declarations to AADE, financial statements to GEMI.

EPE (Εταιρεία Περιορισμένης Ευθύνης — Limited Liability Company)

The historic SME vehicle, largely superseded by the IKE since 2012. Minimum capital €4,800, requires a notarial deed for incorporation, and carries heavier governance formalities. We rarely recommend an EPE for new formations — the IKE delivers the same liability protection at a fraction of the setup cost. EPE remains useful where an existing group structure already runs on EPEs and the cost of conversion outweighs the operating savings.

AE (Ανώνυμη Εταιρεία — Société Anonyme)

The Greek equivalent of a public limited company or German AG. Minimum issued share capital is €25,000, of which one quarter must be paid in at incorporation. Requires a notarial deed, a board of directors with at least three members, and an annual general meeting with statutory minutes. Used for large privately held businesses, regulated industries, and pre-listing structures. If you are not raising capital from the public or operating in a licensed sector, the IKE is the right starting point.

OE (Ομόρρυθμη Εταιρεία — General Partnership)

All partners share unlimited joint liability. Used in family businesses, professional partnerships, and small commercial operations where partners want a tax-transparent structure. No minimum capital. Limited modern relevance for international clients given the unlimited-liability exposure.

EE (Ετερόρρυθμη Εταιρεία — Limited Partnership)

A general partner with unlimited liability plus limited partners with capped exposure. Used selectively for structures that need a managing partner taking full risk and silent investors with capped downside. Niche.

Form	Min capital	Liability	Notary required	Common use
IKE	€1	Limited	No	SMEs, holdings, e-commerce, default choice
EPE	€4,800	Limited	Yes	Legacy SMEs (rarely chosen new)
AE	€25,000	Limited	Yes	Large companies, regulated sectors, pre-IPO
OE	None	Unlimited (joint)	No	Family businesses, professional partnerships
EE	None	Mixed	No	Specialised investor structures

If your timeline is urgent and you cannot wait the standard 7 to 14 days, consider a ready-made Greek IKE from our sister brand — pre-incorporated, dormant, and transferable in days.

Step-by-Step Formation Process

The end-to-end timeline assumes a Private Capital Company (IKE) with a non-resident shareholder formed through the e-YMS one-stop-shop.

1. Name check and reservation. We run the proposed company name through GEMI to confirm it is not already registered and does not infringe restricted terms. Distinct alternatives are usually requested in advance to avoid back-and-forth at the filing stage.

1. AFM (tax number) for each shareholder and director. Every individual party to the company needs a Greek tax identification number. Non-residents apply through a Greek tax representative, who files a power of attorney with the local AADE office. We act as the tax representative for the AFM application; turnaround is typically 3 to 5 business days.

1. Articles of association. For an IKE we file the model statute through e-YMS — no notary involvement required, and the form is fully electronic. For an EPE or AE the articles are drafted by counsel and signed before a notary. Share allocation, registered office address in Greece, share class structure, and directors' powers are all defined at this stage.

1. GEMI submission. The full incorporation file goes to the General Commercial Registry through the e-YMS portal. Standard processing for a clean IKE filing is 1 to 3 business days. Filings flagged for review (unusual share structures, non-EU shareholders without a Greek tax representative on file, name conflicts) take longer.

1. GEMI registration number and corporate AFM. GEMI issues a registry number and the AADE issues the corporate AFM. From this moment your company has legal personality.

1. AADE registration, myDATA enrolment, and bank account opening. We register the company with AADE for VAT (mandatory for cross-border activity, optional below the €10,000 small-business turnover threshold), enrol you on the myDATA e-invoicing platform (mandatory from March 2026 onwards), and introduce a Greek business bank or EMI account in parallel.

The realistic lead time from first contact to operating company with bank account is 10 to 20 business days, depending on bank KYC speed and whether AFMs need to be issued from scratch for each shareholder.

Required Documents

For each director, shareholder, and beneficial owner we need:

• Government-issued photo ID (passport for non-EEA residents; biometric national ID accepted from EU/EEA citizens)
• Proof of address dated within the last three months — utility bill, bank statement, or government letter
• Date of birth, nationality, occupation, and current residential address
• Signed power of attorney authorising us to act as tax representative for AFM procurement
• For corporate shareholders: certificate of incorporation, register of directors, articles, and confirmation of UBO

You also confirm the registered office address (we can provide one in central Athens or Thessaloniki if you do not have your own Greek address), the share structure, and the activity codes (KAD codes) describing the business.

Documents in languages other than Greek must be translated into Greek by a sworn translator. Documents issued outside the EU generally need an apostille under the Hague Convention or, where the issuing country is not a Hague signatory, full consular legalisation. We coordinate translation and apostille handling as part of the package.

Costs and Timeline

Greek IKE formation is procedurally light by EU standards but document-heavy because of the AFM-per-shareholder requirement. The cost depends on what you bundle: AFM procurement, registered office, sworn Greek translation, apostille handling, bank introduction, accounting setup, and myDATA e-invoicing onboarding.

Our packages cover full incorporation, GEMI filing, AFM procurement for up to two shareholders, registered office for year one, all government fees, certificate pack, and an introduction to a Greek business bank or EMI. Contact us for a fixed-price quote — no hourly fees, no government surcharges added later.

Typical timeline from KYC clearance:

Day	Milestone
0	Engagement, KYC submitted
1–3	KYC cleared, documents drafted, AFM applications filed
4–6	AFM issued for non-resident shareholders
7–9	Articles signed, GEMI filing submitted via e-YMS
10–12	GEMI registration number and corporate AFM issued
12–20	Bank account opened, myDATA enrolment complete

Tax Overview for Greek Companies

The Greek corporate tax system has been stable since the 2021 reform that cut the headline rate.

Corporate income tax: 22% flat rate on profits, applied uniformly to IKE, EPE, AE, OE, and EE entities. The rate has been confirmed for 2026 with no scheduled change. Greece does not operate a small-profits or progressive corporate rate — every legal entity pays 22% on net profits regardless of size.

VAT: 24% standard, with reduced rates of 13% on food, hotels, catering, and medicines, and a super-reduced 6% rate on books, newspapers, theatre tickets, and electricity. There is no minimum domestic registration threshold — every business carrying out a taxable supply registers for VAT. A small-business exemption applies to taxpayers with turnover below €10,000 in the prior calendar year, allowing them to skip VAT charging and filing (with no input deduction).

Withholding tax on outbound payments is moderate. The headline domestic rates are 5% on dividends, 15% on interest, and 20% on royalties. EU-resident corporate recipients meeting the Parent-Subsidiary Directive thresholds (10% holding for 24 months) receive dividends free of WHT. Interest and royalties between qualifying EU associated companies are exempt under the Interest and Royalties Directive. Treaty rates apply to non-EU recipients — Greece has a network of around 60 double-tax treaties.

Capital gains on sale of shares by a Greek company are generally taxed as ordinary corporate income at 22%, with EU participation-exemption rules available where the qualifying conditions are met. Greece has no separate capital gains tax regime for corporates.

Tax incentives. R&D expenses qualify for a 200% super-deduction (introduced 2020, extended through 2026). The IP regime offers preferential treatment on income from internally developed patents. Strategic investments under Law 4864/2021 unlock accelerated depreciation and tax stability for qualifying projects.

Mandatory e-invoicing through myDATA. Phase 1 began 2 March 2026 (delayed one month from 2 February) for businesses with turnover above €1 million — domestic B2B and B2B exports outside the EU. Soft launch runs to 2 May 2026 with parallel paper-invoice tolerance. Phase 2 from 1 October 2026 covers all remaining resident taxpayers. Non-compliance carries a penalty of 50% of the VAT amount on the relevant transaction. Early adopters benefit from 100% bonus depreciation on e-invoicing equipment and software in the year of purchase.

Banking for Greek Companies

The Greek banking market consolidated heavily after the sovereign-debt crisis. Four systemic banks now hold the bulk of business deposits. EMIs cover the residual gap for non-resident-controlled entities.

Eurobank opens business accounts for both resident and non-resident-controlled Greek companies and offers online account opening through its corporate channel. Eurobank was named "Best Bank in Greece" by Global Finance in 2022 and remains the most non-resident-friendly of the four systemic banks.

Piraeus Bank is the largest Greek bank by assets and runs a full SME and corporate product set. Onboarding is paper-heavy — expect to provide AFM, GEMI excerpt, articles, UBO declaration, and a business plan. Strong branch network for clients with operations in Athens, Thessaloniki, or the islands.

Alpha Bank provides corporate banking, SME loans, investment products, and merchant services. Onboarding is conservative for non-resident principals; we screen applications before introducing.

National Bank of Greece (NBG) is the oldest commercial bank in the country (1841). Online business account opening is available, but the bank is selective on non-EU directors.

Optima Bank is a smaller, faster-onboarding alternative — useful when the systemic banks decline a non-resident-controlled file or when speed of opening matters more than branch coverage.

For non-resident-controlled IKEs that struggle with Greek-bank KYC, Wise Business, Revolut Business, and Airwallex provide multi-currency EUR accounts with SEPA in/out, accept Greek company formations as account holders, and onboard remotely. Most cf24 clients without a Greek-resident director start with an EMI for operating cash flow and add a Greek systemic-bank relationship once the company has trading history.

Frequently Asked Questions

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

A Private Capital Company (IKE) clears GEMI in 1 to 3 business days through the e-YMS one-stop-shop. End to end, including AFM procurement for non-resident shareholders, document translation, apostille where needed, and bank account opening, the realistic timeline is 10 to 20 business days. EPE and AE formations take longer because they require notarial deeds.

What is the minimum share capital for a Greek company?

The IKE requires only €1 in share capital — a 2012 reform designed to remove the cost barrier for SMEs. The EPE requires €4,800. The Société Anonyme (AE) requires €25,000, of which one quarter must be paid in at the time of incorporation. There is no paid-up requirement on the IKE €1 nominal capital.

Can a non-resident set up a Greek company?

Yes. A non-resident individual or foreign company can hold 100% of the shares in a Greek IKE, EPE, or AE and can sit as the sole director. The only practical requirement is a Greek tax number (AFM) for each shareholder and director, obtained through a Greek tax representative. We act as tax representative for non-resident clients as part of standard formation packages.

Do I need to visit Greece to form a company?

No. The full formation process can be completed remotely through powers of attorney. Documents signed outside Greece must be apostilled and translated into Greek by a sworn translator. AFM procurement, GEMI filing, AADE registration, and myDATA enrolment are handled by us as authorised representatives. Bank account opening is the one step that may require a video call with the bank's KYC officer.

What is the corporate tax rate in Greece?

The Greek corporate income tax rate is 22% for 2026, applied as a single flat rate to all legal entities — IKE, EPE, AE, partnerships. The rate was reduced from 24% to 22% in 2021 and has held since. There is no small-profits rate or progressive scale at the corporate level. Capital gains realised by a company are taxed as ordinary corporate income.

Is e-invoicing mandatory in Greece?

From 2 March 2026 B2B e-invoicing through the AADE myDATA platform became mandatory for businesses with turnover above €1 million (Phase 1, soft launch through 2 May 2026). From 1 October 2026 the obligation extends to all remaining resident taxpayers. B2G has already been mandatory. Non-compliance penalties are 50% of the VAT amount per transaction. We enrol new formations on myDATA from day one.

Can I open a Greek business bank account from abroad?

Yes, with constraints. Eurobank and National Bank of Greece offer online business account opening; Optima Bank is an agile alternative for non-resident files. Piraeus and Alpha Bank are paper-heavier and may require an in-person KYC meeting. EMIs (Wise Business, Revolut Business, Airwallex) accept Greek IKEs remotely and are commonly used for operating cash flow alongside a Greek systemic-bank relationship.

Get Started — Form Your Greek Company

A fixed-price quote in 60 seconds. GEMI registration in 1 to 3 days from a clean filing. AFM procurement, sworn Greek translation, apostille handling, myDATA e-invoicing setup, and bank account introduction all included. No surprise government surcharges.

Call +48 2222 5 2222 or email [email protected] to start. Most Greek IKE formations are complete and operating with a bank account within 20 business days.

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Content prepared by Aleksandra Kowalska, Corporate Client Service. Approved by Tomasz Bielski, Managing Director.