8 Steps to Starting Your Company in Greece 2019

Ancient Greece society placed considerable prominence and literature, where the whole literary tradition began with the arduous poems of Homer. Greece was also essentially responsible for inventing the drama and produced both masterpieces of tragedy and comedy. The classic “golden age” of Athens in the 5th century was marked by achievements in government, philosophy, drama, and architecture. Greece is a modern, industrialized Christian country.

It is the most welcoming place for entrepreneurs who want to set up a business in Greece this is the right place for you, as there is an abundance of opportunities available with a long term business existence.

Why Invest in Greece?

The new economy of Greece is really taking shape. Also, Greece has the high ground on human capital, propelled framework and is right now a nation with extraordinary potential for reviving its economy. This is the reason the grand nation has been drawing in speculators from around the globe to make new organization and business bargains. In 2019, venture openings have turned out to be appealing and generally accessible in segments like Travel and Tourism, Defense and Aerospace, Maritime, Agricultural items and sustainable power source. It is anticipated that by the unwinding of the following decade, the country is to see a monstrous lift in Tourism and Logistics.

Also, these are the few other factors that show why you need to invest in Greece. They are:

·European Gateway

Greece stands at the crossroads of Europe, Asia, and Africa and offers excellent opportunities for internal-continental connection. Greece’s highly developed shipping infrastructure offers a platform from which to venture into nearby markets around the Balkans, the black sea, and the rest of Eastern Europe.

·Tourism Prospect

Greece tourism remained strong through the crisis and continues to be vital to the country’s economy. Tourism ventures are creating opportunities for infrastructure investment in location across the countries

Business Opportunities

The service sector is also an important part of Greece financial profile, but other sectors including IT sector, Biotechnology, health care, and property management, hold numerous attractive investment opportunities for business setup in Greece.

Investment Opportunities in Greece

  • Pharmaceutical company
  • Tourism
  • Information and Communication Technology
  • Food and Agriculture
  • Logistics

There are also a few small business investment opportunities in Greece like-

  • Tourists guide
  • Cold room business
  • Cruise boat/ship Company
  • Marble factory
  • Football agency

Benefits of Starting a Company in Greece

  • The economy has been strongly boosted by the Olympic Games in 2004
  • There has been a massive investment in infrastructure projects, largely financed by EU
  • The spending pattern of Greece customer is higher per capita than any other EU member.

Four main types of Greek company registration business

  1. General Partnership
  2. Limited Partnership

8 Steps to start your company in Greece in 2019

Step 1- Legal Registration

Commercial legislation, company legislation, and limited liability company legislation define the procedures relating to the formation of the new company.

Step 2- Select the Legal Form of the business

  • Sole Trader
  • Corporate Company

There are 4 different types of corporate companies

  1. Public limited company
  2. General partnership
  3. Limited partnership
  4. Limited Liability Company

Step 3- Business Plan and Evaluation

The business plan is the key tool towards the success you need to plan everything without forgetting any details with a sound commercial strategy and securing financial plan.

Step 4- Registering a Company

Once you have chosen where the company will be based on the natural (sole trader) or the legal persons (corporate company) must register it with the Chamber of Commerce.

To register at the chamber of commerce you need

  • Notarized copy of articles stamped by eforia, the lawyers' pension fund, the lawyer’s welfare    fund
  • Certificate of approval

Step 5- Obtaining a Tax Identification Number

You must then apply for the tax identification number at the relevant tax office.

Step 6- Special Procedures

For certain professional categories issuance of the license to practice is essential for the commencement of any business activity. The majority of licenses to practice a profession, as well as the special operation license, is issued by the competent directories responsible for business activities in the various prefectures.

Step 7- Make a Company Seal

The company’s seal must also contain the tax registration number and the tax office. It is still used in the practice by the banks. Furthermore, the companies are still required to make a company seal in their daily practice.

Step 8- Books and Accounting

An accounting log and receipt books need to be ready and to use the company stamp to imprint the accounting log of every single page of receipts books.

Conclusion

Some steps in the right way can make you closer to your destination. If you are interested in setting up a business in Greece, consider the factors mentioned above and select the one which suits your business idea and jump towards the execution of the idea.

Don’t know how to kick start?

Don’t worry, we can help you!

Business Setup Worldwide is a platform to help you set up a business in Greece. We can assist you with company incorporation, registration, corporate secretarial services, intellectual property protection, and Greece tax advisory, for your company formation in the country. Business Setup Worldwide's proprietary business design techniques, combined with its regional know-how and global reach, enable companies to anticipate changes in customer priorities and the economic market, and then mold their businesses and improve operations to make use of opportunities created by those changes, contact us-we’d happy to help.

About the Author

shruti@bsworldwide.com's picture

Shruti has an abstract chain of thoughts which she can articulate creatively in writing. Channeling her imagination through her micro tales, she developed a knack for writing and voracious reading. She possesses a can-do attitude, unfathomable curiosity and is blessed with the ability to make terrible puns.