There is a systematic approach of how a business needs to be structured or which business stricture would suit the business you are willing to start. Here is the list of business entities you need to know about before starting a business in Greece.
What is a Business Entity?
A business entity is an organization made by at least one natural person to carry out an exchange or business. Some business substances are considered for government assessment purposes to be not separate from its proprietor. Such is the situation with single-part constrained risk organizations and sole owners.
Types of Business Entity in Greece
To start a business in Greece, you have to choose from one of the below mentioned corporate structures.
1.Limited Liability Company (EPE)
- Limited Liability can be shaped by at least one regular or lawful people.
- The minimum base capital prerequisite is € 4,500.00.
- It can continue practically any sort of business, with a few special cases saved for the AE (banks, insurance agencies, and so forth).
- Liability of all the partners is limited to the extent of their investment in the company
- Incorporation in 4-5 working days through the "one-stop-shop", for example a Greek legal official can open your business.
- One or more chief. The chief is just at risk towards the organization, however can likewise be obligated towards outsiders, on the off chance that he/she has acted in blame; the executive is additionally actually subject for organization charges and protection commitments towards the Greek state and the Greek private workers fund.
- Subject to Greek corporate salary expense of 20%. Profits conveyed to accomplices are liable to retaining expense of 25%. There is a special case to that for outside parent organizations arranged in another EU nation, according to the "parent-backup order" and furthermore certain twofold duty bargains with a few nations.
2.Societe Anonyme (AE)
- It can be shaped by at least one natural or lawful person.
- The base capital requirement is € 60,000.00.
- It can continue practically any kind of business, with no exemption.
- Can offer namelessness of investors in the event of accomplices holding mysterious offers.
- Incorporation in 5-6 working days through the "one-stop-shop", for example a Greek notary public.
- The general get-together of shareholders is the most astounding organ in the organization, qualified for choosing any issue.
- Its managerial organ is the directorate, which must be contained at least 3 people, regular or legitimate. As a rule, the governing body names an overseeing executive, to whom it can exchange a few or the majority of its forces.
- It is very effective organization type particularly when the investors may have restricting premiums.
- Subject to Greek corporate pay expense of 20%. Profits appropriated to investors are liable to retaining assessment of 25%; there is an exemption to that for remote parent organizations arranged in another EU nation, according to the "parent-backup order", and furthermore certain twofold duty settlements with a few nations.
3.Branch Office in Greece
- Though not an organization type, branch office in Greece is likewise a type of beginning a business movement in Greece.
- It is established after filling for approval with the skilled reconnaissance specialist in Greece.
- The remote organization must record an endorsement about the measure of its offer capital abroad, which must not be exactly the base offer capital accommodated the identical Greek organization type.
- Subject to Greek corporate pay duty of 20%. Profits transmitted to the branch’s head office abroad are liable to retaining assessment of 25%; the "parent-subsidiary directive” does not have any significant bearing for branches.
- General associations comprises of somewhere around two accomplices whose obligation is unlimited. The best favourable position of the O.E in Greece is that there is no base capital required.
- On the off chance that is stipulated in the understanding, the accomplices can choose will's identity in charge of the administration of the organization and concur how the misfortunes will be secured and the benefits will be shared.
5.Limited Partnership (E.E)
- The Limited Partnership is framed by a few accomplices, with no base capital required. Somewhere around one of them is the constrained accomplice and its risk relies upon the measure of the commitment. He has no administration obligation.
- Least one is the general accomplice, and it's in charge of the organization's administration.
These are the types of business entities in Greece, if you are planning to setup a business in Greece consider all the aforementioned factors and choose the one which is right for your company. Selecting the correct business entity for your business in Greece ensures operations in the best possible way.
Still Confused? We are here to Help You Out.
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. We help entrepreneurs and investors establish their company in Greece through incorporation, registration and legal consulting services. Our advisors take care of the entire Banking, Visa, Legal, and Licensing formalities, in accordance with the Greek laws. We guide you through your company formation, with your business objectives at the centre of our operations.Contact us-we’d help to help!
1. What is the minimum paid-up capital for private company formation in Greece?
2. How long does it take to incorporate a company in Greece?
5-6 working days.
3. Which law governs the private company law in Greece?
Law 4072/2012 (Government Gazette, Series I, Issue 86); a General and Limited Partnership (ordinary or by shares) under Law 4072/2012 (Government Gazette, Series I, Issue 86).
4. Can one obtain a business license in Greece online?
Yes, through e-portal.