Company Formation · Greece

Set up a company in Greece.

A flat 22% corporate tax rate, the IKE vehicle with no minimum capital requirement, and a Mediterranean gateway between Europe, the Balkans, and the Middle East — in a country that has just returned to investment grade.

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22% Corporate Tax

€0 Min. Capital (IKE)

5% Dividend WHT

EU Single Market

17 Years Founded 2009 · UK Reg. 11575770

100+ Jurisdictions Covered

40+ Senior Consultants Globally

20+ Sectors Served

48 Hours Quote Turnaround

At a Glance

Greece — the essentials.

Capital

AthensLargest economic centre

Population

~10.4 millionEU member since 1981

Currency

Euro (€)Eurozone since 2001

Official Language

GreekEnglish standard in international business

Time Zone

EET (UTC+2)EEST in summer (UTC+3)

Sovereign Rating

Investment GradeRecently upgraded (BBB− range)

Legal System

Civil lawContinental European tradition

Corporate Register

GEMIGeneral Commercial Registry · businessportal.gr

Why Greece

Six reasons clients choose Greece.

A flat 22% corporate tax, a modern flexible vehicle (the IKE) with no minimum capital, and the lowest dividend withholding rate in the region — in a country that has just returned to investment grade after a decade of reform.

Flat 22% corporate tax

Reduced from 24% to 22% in the 2021 reform and held steady. One of the more competitive headline rates in the EU, applied flat across AE, IKE, EPE, and partnership vehicles keeping double-entry books.

IKE: no minimum capital

The Idiotiki Kefalaiouchiki Etaireia (IKE / Private Capital Company) is the modern, flexible vehicle of choice for SMEs and start-ups. Limited liability with no minimum capital requirement — you can incorporate with €1.

World's largest merchant fleet

Greek-owned shipping accounts for the largest share of global merchant fleet by deadweight tonnage. A deep maritime ecosystem, world-class shipping legal and finance services, and tax incentives for ship-owning structures.

Strategic Mediterranean gateway

Geographic and commercial bridge between Europe, the Balkans, the Middle East, and North Africa. Strong port infrastructure (Piraeus among Europe's busiest), expanding logistics corridors, and enviable air connectivity.

Back to investment grade

Greece's sovereign rating returned to investment grade after the post-debt-crisis reform programme. Borrowing costs have normalised, FDI is rising, and the Strategic Investments framework offers concrete incentives for large-scale projects.

5% dividend withholding

One of the lowest dividend withholding tax rates in the EU. Greek tax-resident individuals pay 5% on profits and dividends from closely-held corporations — making Greece highly competitive as a holding location for owner-operators.

Business Structures

Choose the right vehicle — six options.

Most international clients use the IKE for SMEs and start-ups, or the AE for larger / IPO-track businesses. We will tell you straight which one fits your situation, and why.

Structure	Min. Capital	Liability	Best for	Formation
IKEIdiotiki Kefalaiouchiki Etaireia · Private Capital Company Most Used	€1 No statutory minimum	Limited to capital contribution	The default choice for SMEs, holdings, foreign-owned subsidiaries, start-ups, and professional services. Modern, flexible vehicle introduced 2012.	2–4 weeks
AEAnônymos Etaireia · Société Anonyme	€25,000 Fully paid since 1 Jan 2019	Limited to share capital	Larger businesses, IPO-track companies, regulated industries, banks/insurance subsidiaries needing formal governance and freely transferable shares.	4–6 weeks
EPEEtaireia Periorismenis Efthynis · Limited Liability Company	None	Limited to capital contribution	Largely superseded by the IKE for new incorporations. Still encountered in legacy structures and certain sectoral preferences.	3–5 weeks
OEOmórrythmi Etaireia · General Partnership	None	Unlimited, joint & several	Two or more partners running an active business together; small partnerships using single-entry books taxed only at company level.	1–3 weeks
EEEterórrythmi Etaireia · Limited Partnership	None	Mixed (general / limited)	Investor / operator structures where general partners manage and limited partners provide capital with capped liability.	1–3 weeks
BranchYpokatástima · Branch of foreign company	None	Parent company liable	Foreign-headquartered groups establishing local presence without separate legal entity. Faster to set up; parent carries direct liability.	3–5 weeks

Tax & Compliance

The numbers that matter.

Headline figures every founder, finance director or international operator should know before they incorporate.

22%

Corporate Tax

Flat rate on AE, IKE, EPE and partnerships keeping double-entry books. Reduced from 24% in the 2021 reform; held steady. Credit institutions taxed at 29% under the deferred tax credit regime.

Dividend WHT

Greek tax-resident individuals taxed at 5% on profits and dividends from closely-held corporations — one of the lowest rates in the EU and a major draw for owner-operators.

24%

VAT (Standard)

Reduced rates of 13% (food, water, hotels, passenger transport) and 6% super-reduced (medicines, books, electricity, gas). Mandatory registration above €10,000 turnover.

−30%

Aegean Islands VAT

VAT rates reduced 30% on Chios, Kos, Lesvos, Leros, Samos and other Aegean / Dodecanese islands under 20,000 inhabitants. Effective rates: 17% / 9% / 4%.

7 yrs

Non-Dom & Repatriation

Reduced or flat-rate taxation for up to seven years for individuals transferring tax residence to Greece — non-dom regime, pensioner regime, and repatriation regime each with specific eligibility criteria.

5 yrs

Loss Carry-Forward

Tax losses carried forward up to 5 years — provided no significant change in shareholder participation. Forfeited if direct or indirect participation changes by more than 33%.

L. 5162/2024

Unified M&A Framework

2024 reform unified tax-neutral corporate reorganisations into a single statutory framework — mergers, divisions, asset contributions, and share-for-share exchanges all under one rule set.

myDATA

Digital Reporting

Mandatory digital books and e-invoicing via myDATA. Phased mandatory B2B/B2G e-invoicing rolling out 2 March or 1 October 2026 by business size. Submitted via TAXISnet.

Pillar Two minimum tax: Greece has implemented the OECD/EU 15% global minimum effective tax for multinational groups with consolidated turnover above €750 million via the Income Inclusion Rule, Undertaxed Profits Rule, and a domestic top-up tax (QDMTT). Most SMEs and growth-stage businesses are not in scope.

Formation Process

From decision to trading entity.

A realistic seven-step path. Most international clients with an IKE are operational within 2–4 weeks; an AE typically runs to 4–6 weeks.

Discovery & structure design

Confirm the right vehicle (IKE, AE, EPE, partnership, branch), shareholding, directorships, registered office location, and tax position. Eligibility for Non-Dom or other incentive regimes assessed.

Week 1

Articles & statutes drafting

Articles of Association (Katastatikó) drafted — in Greek for Greek-resident vehicles, with English translation for foreign shareholders. Specifies share structure, governance, directorship, and management rules.

Week 1–2

Notarisation (where required)

For an AE, articles must be executed before a Greek notary. For an IKE, statutes can be drafted privately or notarised — private form acceptable. Hellenic Competition Commission duty payable for AE (0.1% of capital).

Week 2–3

GEMI registration

Registration with the General Commercial Registry (GEMI / Geniko Emporiko Mitròo) via businessportal.gr. Company receives its corporate registration number (Ar. GEMI). Notary or one-stop-shop handles for AE; direct submission for IKE.

Week 2–3

Tax & VAT registration (AADE)

Registration with AADE (Independent Authority for Public Revenue) for the Tax Identification Number (AFM) and VAT (FPA), including the EU VAT-ID for cross-border trade. myDATA digital reporting setup.

Week 3–4

Bank account & capital deposit

Greek bank account opened. For an AE, share capital paid in. For an IKE, no minimum deposit required. UBO declaration filed via the Ministry of Finance Central UBO Register.

Week 3–4

EFKA & sectoral licences

Registration with EFKA (Unified Social Security Fund) if hiring. Sector-specific licences where applicable via Enterprise Greece. Strategic Investments framework engaged for qualifying large-scale projects.

Week 3–5

What We Handle

A single partner. End to end.

You get one senior point of contact at Grant & Graham. Behind that, a vetted local network of notaries, banks, accountants, and lawyers we have worked with for years.

01 · ADVISORY

Structure & tax design

Choosing the right vehicle (IKE, AE, EPE, partnership, branch), shareholding structure, and cross-border tax position. Eligibility assessment for Non-Dom, Pensioner, or Repatriation regimes where relevant.

02 · LEGAL

Articles & notarisation

Drafting articles of association (Katastatikó) in Greek and English, coordinating Greek notary execution where required (mandatory for AE), and Hellenic Competition Commission filings.

03 · FILING

GEMI & AADE registration

General Commercial Registry (GEMI) filing via businessportal.gr, AADE tax/VAT registration, EU VAT-ID, UBO Register, myDATA digital reporting setup, and ongoing compliance filings.

04 · BANKING

Bank account introduction

Direct introductions to leading Greek and international banks operating in Greece. We compress account-opening timelines for foreign clients and coordinate KYC documentation upfront.

05 · FINANCE

Accounting & tax filings

Bookkeeping, payroll, annual financial statements, corporate tax returns, monthly/quarterly VAT, and prepayment compliance through our partner accountants in Athens and Thessaloniki.

06 · PEOPLE

HR, employment & relocation

Employment contracts, EFKA registration, work permit and residence permit support for non-EU hires, and relocation packages for senior staff transferring under incentive regimes.

Best Fit When…

Greece is the right answer for specific situations.

Not the lowest-tax jurisdiction in the EU, not the lightest-touch on social security. The right call when one of these scenarios applies.

You operate or invest in shipping

Greek-owned shipping holds the largest share of global merchant fleet by deadweight tonnage. Mature ship management ecosystem, world-class maritime legal and finance services, and a tonnage tax regime designed for ship-owning structures.

You run a tourism or hospitality business

Year-round demand, world-class destinations, mature licensing frameworks. Aegean island businesses benefit from the −30% reduced VAT rates. Climate Resilience Tax framework gives operators a stable basis to plan against.

You want a Mediterranean / Balkan gateway

Greece sits at the crossroads of Europe, the Balkans, the Middle East, and North Africa. Piraeus is among Europe's busiest ports. Strong air, sea, and road links, plus expanding logistics corridors via the Trans-European Networks.

You are an HNW relocator or pensioner

The Non-Dom regime (flat €100k tax on global income), the Pensioner regime (7% flat on foreign pensions), and the Repatriation regime (50% income exemption) make Greece one of the most generous lifestyle relocation jurisdictions in the EU.

You are building energy or agritech

Strong solar, wind, and battery investment pipeline. Significant EU recovery funding earmarked for the green transition. Expanding agritech and food-tech sector benefiting from skilled engineering talent and Mediterranean produce supply chains.

You want post-IG emerging-market exposure

Greece's recent return to investment grade has normalised borrowing costs and accelerated FDI. The Strategic Investments framework offers fast-track licensing and tax incentives for projects above set capex thresholds — ideal for institutional investors.

Cost & Timeline Planner

Get an estimate in 30 seconds.

Three quick questions. We will give you a realistic cost range and timeline for your situation, and route the answers straight into a fixed-price quote request.

Step 1 of 3

01 · Structure

Which company structure are you considering?

02 · Setup

How is the shareholding structured?

03 · Services

What do you need from us?

Estimated for your situation

All-in cost (one-off)

—

Timeline to operational

—

Recommended structure

—

Get this as a fixed-price quote →

Estimate only. Final quote depends on specific scope, sector requirements, and any sector-specific licences. Includes Greek notary (where required), GEMI registration, AADE tax/VAT registration, EFKA setup, and Grant & Graham senior advisory at €250/hour.

Frequently Asked

The questions we get asked most.

How long does it take to set up an IKE in Greece?

Typically 2–4 weeks from instruction to a fully operational entity with bank account, GEMI registration, and tax/VAT registration. The IKE is genuinely fast: GEMI filing usually completes within days. The longest single step for international clients is normally bank account opening, which can extend the timeline to 4–6 weeks for non-EU shareholders.

What's the difference between an IKE, an EPE, and an AE?

The IKE (Private Capital Company) is the modern, flexible vehicle — introduced 2012, with no minimum capital and simpler governance. It is now the default choice for SMEs, foreign-owned subsidiaries, and start-ups. The EPE (Limited Liability Company) is a legacy LLC vehicle, largely superseded by the IKE for new incorporations. The AE (Société Anonyme) requires €25,000 minimum capital, formal board governance, and is the right choice for larger businesses, IPO-track companies, banks/insurance subsidiaries, and regulated industries.

Do shareholders or directors need to be Greek or EU residents?

No. Foreign nationals and non-EU residents can be both shareholders and directors of a Greek IKE, AE, or EPE. There is no nationality or residency requirement. For a smooth bank account opening and a credible local presence, however, having at least one director with EU presence is helpful. Non-EU directors and senior staff can apply for residence permits including the Greek Golden Visa or Strategic Investments residence pathway.

How does the Non-Dom regime work for relocators?

The Greek Non-Dom regime allows individuals transferring tax residence to Greece to pay a flat €100,000 per year on global non-Greek income, for up to 15 years. Greek-source income is taxed normally. Eligibility requires not having been a Greek tax resident in 7 of the previous 8 years, and an investment commitment of at least €500,000 in Greece (real estate, securities, business, or infrastructure). Combined with the 5% dividend WHT and the EU passport, it is one of the most generous lifestyle relocation regimes in Europe.

What is myDATA and how will e-invoicing work in 2026?

myDATA (My Digital Accounting and Tax Application) is Greece's mandatory digital books and reporting platform. Every invoice must be transmitted to AADE in near real time. From 2026, B2B and B2G e-invoicing is being phased in — large businesses from 2 March 2026, smaller businesses from 1 October 2026. We set up myDATA integration as part of the formation package so the company is compliant from day one.

What ongoing compliance does a Greek company face?

Annual financial statements filed with GEMI, an annual corporate income tax return, monthly VAT returns (double-entry books) or quarterly (single-entry), monthly myDATA digital reporting, payroll filings via EFKA, UBO Register filings, and annual prepayment of corporate income tax (80% of current-year liability paid forward). We package this as an ongoing service for international clients.

How They Compare

Greece vs Cyprus vs Italy.

Three Mediterranean economies, three very different profiles. A side-by-side comparison on the numbers that actually matter.

	Greece	Cyprus	Italy
Primary Vehicle	IKEAE for larger setups	LtdPLC for larger setups	SRLSRLS / SPA for larger
Min. Share Capital	€1No statutory minimum on IKE	NoneLimited Co. has no minimum	€10,000€1 for SRLS small-cap variant
Corporate Tax	22%Flat; 29% credit institutions	15%From 2026 reform (was 12.5%)	24% + 3.9%IRES 24% + IRAP regional ~3.9%
Formation Time	2–4 weeksIKE faster; AE up to 6 weeks	2–3 weeksAmong the fastest in EU	3–5 weeksNotary required; SDI digital invoicing setup
Standout Feature	5% dividend WHTLowest in region for owner-operators; Non-Dom regime	IP Box ~3%80% deduction on qualifying IP income	EU's largest manufacturing basePatent Box, Industria 4.0 incentives
Best Fit	Shipping, tourism, Mediterranean gateway, lifestyle relocation	Holding companies, IP-led, fund vehicles	EU manufacturing, design, food/wine, fashion
Watch Out For	myDATA & e-invoicingMandatory phased Mar/Oct 2026	Substance requirementsReal economic presence increasingly enforced	IRAP regional surtaxPlus complex regulated-sector regimes

Comparison data verified April 2026. Tax rates are headline figures — effective burdens vary by deductions, allowances, and structure. We can model the right answer for your situation in 48 hours.

Other Jurisdictions

Greece is one of 100+ markets we cover.

If Greece is not the right answer for your situation, here are the markets clients most often consider alongside it.

View all 100+ jurisdictions →

Start the Conversation

Ready to set up in Greece?

Tell us what you are trying to do and we will come back inside 48 hours with a fixed-price quote and timeline. No pressure to commit — just a clear answer from a senior adviser.

Start a formation → uk@grant-graham.co.uk