How to Start a Business in Greece as a Foreigner 2019

The nation's one of its kind. The interminable blue shade of Greece and the islands have made Greece synonymous with summer occasions. The nation has practically 16,000 km of coastline offering innumerable little shorelines and enchanting inlets. Half of its coastline is on the territory, while the rest can be found on a large number of Greek islands.

But then, Greece is in excess of a mid-year goal. You can appreciate occasions amid all seasons in Greece: spring, harvest time and winter guarantee encounters that will remain permanently carved in your memory.

Greece is utilized by numerous speculators as a section to Southeast Europe and the Middle East, in actuality is the main nation in the area that is both an EU and EMU member (this gives money related and swapping scale dependability). Financial specialists hoping to begin a business in Greece are supported by the low organization, for example, it takes 10 days to open another business if the fundamental prerequisites are met.

Why Greece?

Greece has a sensibly appealing atmosphere for foreign investment. Its economy isn't actually the beauty of the EU ball, yet we can't all be Germany. The EU is the nation's biggest exchanging accomplice, yet it is additionally creating connections with East European and Black Sea nations. Greece still has a relatively expansive open area; however, the legislature is following privatization approaches, with major basic changes likely not long from now. There are openings and openings in many segments and UK items, specifically, have extraordinary notoriety.

Things you need to ensure before Starting a Business in Greece

Speculators: For looking to start a company in Greece

1. Verification of 3000,000 least capital is required as proof.

2. Formation with no less than 10 new employees, of which 30% must be given to Greek residents; and

3. An application and business proposition submitted in Greek demonstrating that the business will “add to the development of the economy", which must be explored and affirmed by the Greek service of inside.

Keep in mind, cooperating with a Greek or other EU native does not pardon you from these principles.

The Registration Process in Greece for Foreigners

  • Register your company name (ensure if the name is not being used by another company in Greece)
  • Choose a business activity which suits the type of business you are willing to execute
  • Choose a corporate structure for your business
  • Draft Memorandum of Association mentioning the details of shareholder, shares, and everything about the company
  • Endorsement of Incorporation with MOA after drafting it
  • Participation of Chamber of business here gets to start crisp association in Greece foreign company registration.

Features of Company Registration in Greece

  • Single or numerous individuals can begin the business in Greece
  • Most minimal offer estimation of €4500 should make a point to arrangement fresh foundation
  • Half of the absolute capital sum affirm as paid-up
  • Government rouse and wish to the abroad speculator here
  • One motivation to pull in of non-Greek patrons contributing here is ease of labor and effectively access to EU showcase

Things you need to do after you set up your Business in Greece

  • Pay government taxes regularly and submit yearly records costs and benefit data;
  • Tax collection is applicable 20 (20%) on the profit level

The other things you need to know before Starting a Business in Greece

Important facts

  • When meeting somebody out of the blue, shake hands firmly, grin and look. There is no formal custom with regards to trading business cards in Greece, in spite of the fact that it is a smart thought to have one side converted into Greek and present the business card with this side looking up.
  • Business hours in Greece are regularly from Monday to Friday, either from 8 am to 4 pm or 9 am to 5 pm. A few organizations likewise remain open on Saturdays. Nonetheless, banks are commonly open from 8.30am until 2 pm (1.30pm on Fridays), and expats can anticipate that shops should be open from 9 am until 6 pm, as a general principle.
  • In spite of the fact that following these tips should give you an edge in your business dealings, there is one final thing which will truly have the effect. Despite the fact that most Greeks talk brilliant English, learning the nuts and bolts of the Greek language will indicate both responsibility and admiration for the way of life of your new associates

Thus, if you are planning to set up your business in Greece, consider the above things and also be prepared with the necessary documents required. To know more- Contact us as you focus on your business plan you need not to worry about the registration process because 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.

About the Author

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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.