The corporate income tax in Greece is 29%. Foreign companies in Greece are taxed only on the income that is generated in the country.
Greece, known officially as the Hellenic Republic, is located in southern Europe, at the crossroads of Africa and Asia. The cradle of western civilization and the birthplace of democracy, the country is highly developed and boasts a perpetually high Human Development Index over the past many years. It is a part of the European Union and one of the founding members of the United Nations.
The most prominent industries in Greece are tourism, shipping and retail. Besides these, the country also derives substantial GDP from food processing, textile manufacturing, chemicals, healthcare, construction, energy and metallurgy. Greece is well connected to the major countries of the world via air transport, its major airport being the Athens International Airport. Apart from that, the islands of Greece are adequately interconnected through motorways.
For setting up a company in Greece, one can choose from among the following business structures:
A limited liability company, referred to as Eteria Periorismenis Efthynis (EPE), is a popular form of business incorporation for small and medium-sized enterprises in Greece. As the name suggests, this type of company implies limited liability for its shareholders, a minimum of 2 of whom are required to set it up. The minimum share capital required for an EPE company is €4,500, and it is mandatory for it to maintain statutory financial reporting.
A stock corporation, also known as Anonymos Eteria (AE), is the legal entity generally chosen by large businesses. A minimum of 2 individuals or corporate entities can set up this form of company with a minimum share capital of €60,000. This capital is divided into shares, that can be traded at the stock market. The liability of the members of an AE is limited to their respective contributions to the capital.
A general partnership, referred to as Omorythmos Eteria (OE), can be formed by 2 or more partners in Greece, who are jointly and severally liable for the debts of the partnership without limitation in liability. The partners also reap the entirety of the profits from the company. For an OE, there is no requirement of a minimum share capital to start the company.
A limited partnership, also known as Eterorythmos Eteria (EE), is similar in all respects to a general partnership, except that it has 1 or more partners with limited liability. Such a partner is referred to as a silent partner, and the others are called general partners. Only the general partners can engage in the management of the partnership and claim profits.
A branch in Greece can be set up by a foreign company looking to open a permanent establishment in the country. For forming a branch, at least 1 director and 1 legal representative (who must be a Greek resident) are required. Since a branch is not considered a legal entity separate from its parent company, the latter is liable for its activities and obligations.
A representative office can be started to purely for market research or promotion purposes. It is not allowed to carry out commercial or business-related activities.
A company in Greece enjoys the following advantages:
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