Business Activity in Greece
Your Trusted Partner for Company Formation and Business Expansion in Greece
Can Third-Country Citizens Establish a Company in Greece?
Yes, third-country citizens (i.e. non-EU nationals) may establish a company in Greece. However, they are limited to forming:
• Limited Liability Companies (EPE)
• Private Companies (IKE)
• Sociétés Anonymes (AE)
Important:
The director of the company must have access to the Greek working market.
A director may either be:
(a) A shareholder of the company (holding any percentage of shares), or
(b) Another individual employed by the company. In this case, the company is required to:
- Pay a monthly salary (subject to income tax)
- Cover mandatory social security contributions
- Ensure the salary meets or exceeds the legal minimum as set by Greek law
Alternative Option: Establishing a branch of a foreign parent company is also possible and is subject to fewer restrictions
Operating a Business in Greece – Key Figures
Below is a sample of expected standard taxes and costs based on the type of business entity:
| Aspect | Subsidiary of a Foreign Parent Company | New Legal Entity Registered in Greece |
| Income Tax | 22% flat tax on net profits (Article 58, Law 4172/2013). An advance tax payment for the following year is also required, which is offset against the next year’s tax liability. | Same as left. |
| Tax on Dividends | Dividends are taxed in the country where the parent company is based. | 5% withholding tax on dividend distributions (Article 40, Law 4172/2013). |
| Social Security Fees | Not applicable. | Only the director must pay monthly social security contributions. |
| Annual Fees to Chambers of Commerce | €20 | €80–€300 (depending on company type, e.g. SA, EPE, IKE) |
Starting and Operating a Business in Greece
Greece presents numerous rewarding business opportunities, each offering unique potential for growth and success. However, long-term success depends on:
- A well-constructed business plan, and
- Ongoing legal and administrative support
Our Expertise
We have extensive experience, particularly in the construction and property development sectors, enhanced by strong administrative and project management capabilities.
How We Can Help
We offer a business-oriented and client-focused approach, with an emphasis on cost-effective and timely resolution of your affairs. Our experienced team of lawyers works closely with each client, combining legal expertise with practical business insight.
Our skilled legal team, in cooperation with tax experts and financial consultants, can assist with:
- Drafting a comprehensive business plan, including analysis of all potential options for optimal estate development, tax planning, and investment management
- Advising on the most suitable legal structure for your business (e.g. limited liability company, private company, or branch office)
- Handling company formation and registration with the Greek General Commercial Registry (GEMI)
- Drafting Articles of Association, Shareholder Agreements, and corporate governance documents
- Providing ongoing legal support and consultation for your business operations
Additional Services
Together with our associated financial experts, we also offer monthly treasury management services for any legal entity, including:
- Tracking cash and cash equivalents at the beginning and end of each month
- Segmenting and analyzing expenditures and revenues incurred
- Payment planning and scheduling
- Financial data reporting
- Payment management and execution